FSBO Homes in Maryland

Introduction


The state of Maryland is mostly concentrated around the Baltimore and Washington, D.C. areas. Upscale neighborhoods dot the area, but these areas are not immune to housing woes – as evidenced by the numbers of FSBO homes in Maryland. 


Annapolis, Salisbury (Maryland) and Ocean City offer ocean views with smaller populations and proximity to the nation’s capital.


Maryland FSBO Statistics


As of February, 2012, Maryland listed 1,881 homes for sale by owner, states RealtyStore.com.


The highest number of homes for sale by owner are located in Baltimore. The second-highest number of FSBO homes is held by Ocean City and Annapolis holds the third-highest spot. The top three ZIP codes for FSBO homes in Maryland are: 21550, 21401 and 21811.


Maryland Homes For Sale By Owner


FSBO or “for sale by owner” homes aren’t represented by a selling Realtor. Instead, the owners of these homes have chosen to sell the home by themselves without representation, meaning they can save on a Realtor’s commission. Not only does the seller save on the commission – the buyer saves on the commission as well and may be able to negotiate a lower buying price. 


Should a buyer be searching for a FSBO home, he will have to dig a little more deeply because these homes are not usually listed on the Multiple Listing Service, or MLS. Because the home’s availability is not as well-known, those buyers who find out about the home compete with fewer buyers. They may place a successful bid on a FSBO home. This does not mean that the buyers who are looking at a specific FSBO home can relax and take more time to consider their options. Just as with traditionally listed homes, a FSBO home will quickly move off the market.


FSBO sellers and buyers may also benefit from much less paperwork, but proof of ability to buy a home and make the monthly payments are still necessary. The requirements in buying FSBO homes in Maryland can include a down payment, proof of income and confirmation of past and present employment.