What Are 3 Ways to Write FSBO Real Estate Contracts?


Quick Answer

To write an FSBO real estate contract, a property owner can do it by herself, engage a friend or relative who's experienced in writing FSBO contracts, or enlist the services of a real estate agent. In all cases, the seller should ascertain that the real estate contract names the parties involved, describes the property, outlines the payment terms and contingencies, and provides all necessary disclosures, according to Roberts Legal Firm.

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Full Answer

FSBO contracts define the sales terms. Since an FSBO contract is legally binding for the seller and buyer, the property owner should ensure that its contents are precise and agreeable. The real estate contract should outline the details of the property, including its features, price, and consequences of breaching the agreement. Before writing the FSBO, the property owner should carry out background research to understand any state requirements on contracting to avoid getting into legal problems. The legal description of the property should include all pertinent information as detailed in the last affidavit of ownership, according to Real Estate ABC. Before signing the FSBO contract, the owner should consult an attorney to get professional advice on the implications. It is necessary to review the terms of the FSBO contract to ensure that it is free from legal shortfalls.

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