For Sale By Owners

For Sale by Owners, aka FSBOs (pronounced fizzbows), aka private sales, are always more popular when the market is doing well. In particular, when it's a sellers market - the very conditions being experienced in Winnipeg for the past number of years. While real estate sales in other centers in Canada have slowed, Winnipeg's has cruised right along with 2012 being one of the three best years this century (following 2007, 2011).
What FSBOs may not understand is that a professionally marketed property, in a strong sellers market, will often result in significantly higher selling prices and more $$$ in their pocket, even after paying that dreaded real estate commission. This is especially true in Winnipeg, which is one of the only Canadian cities that has seen bidding wars continue for the past year and even through the winter of 2012/2013.
Regardless, people still have their own reasons for selling privately so here are a few tips regarding contracts: