The opportunity to create a contract without the benefit of a lawyer's advice may seem tempting, and it may offer a way to avoid an expense in the short run. For sale by owner contracts are commonly used, and they are successful in many transactions. One may evaluate for himself the advisability of serving as one's own lawyer by considering the value of the transaction. Other considerations may
. involve investigating the ramifications that could occur if something goes wrong in the transaction.For sale by owner contracts are frequently found in the sale of real estate, representing a considerable exchange of money between a buyer and a seller. A site sponsored by a real estate company at http://www.10realty.com/realestatelegalforms.htm recommends against the use of a generic for sale by owner contract. The site mentions several points that one may consider in deciding whether to proceed with the use one of the generic forms that are widely available. The site provides alternatives to the use of those forms and recommends them instead.The For Sale by Owner Contracts site at http://www.sell-my-house-fsbo.com/for-sale-by-owner-contracts.html provides links to two other sites that the sponsor recommends. Both of the links appear to direct one to forms that are specific for individual states as opposed to a generic form that is not so specific. Forms that can include information regarding laws and practices required by individual states may be more helpful to a person doing his own legal work than are those that do not offer such information. The site references other kinds of information that may be helpful to one considering a sale of a home.The for sale by owner contracts may not offer as much risk when items of lesser value than a home are involved. Still, each person must evaluate the risks and balance them against the long run and the short run costs.More reference links: http://www.sell-my-house-fsbo.com/for-sale-by-owner-contracts.html http://www.10realty.com/realestatelegalforms.htm
