Fsbo Contract Template

If you`re planning to sell your property without the help of a real estate agent, you`ll need an FSBO contract template to ensure that you and the buyer are on the same page. FSBO (For Sale By Owner) contracts are legally binding documents that outline the terms and conditions of the sale, including the sale price, closing date, contingencies, and more.

Here are some important things to consider when using an FSBO contract template:

1. Outline the Sale Price

The first and most crucial element of the contract is the sale price. This is what the buyer will pay for the property, so make sure to include it at the beginning of the contract. If you`re open to negotiation, you can leave some room for the buyer to make an offer.

2. Include Contingencies

Contingencies are conditions that must be met before the sale can be finalized. They are often included in the contract to protect both the buyer and seller. For example, you can stipulate that the sale is dependent on a satisfactory home inspection or the buyer securing financing.

3. Set the Closing Date

The closing date is the day when the sale becomes official. It`s important to agree on a specific date, so both parties can plan accordingly. The closing date can be negotiable, but it`s best to set a realistic timeline and stick to it.

4. Disclose Property Information

As the seller, you`re required to disclose any known defects or issues with the property. This includes structural problems, environmental hazards, or any other issues that may affect the value of the property. Make sure to include this information in the contract, so the buyer is aware of any potential risks.

5. Specify Payment Terms

The contract should outline the payment terms, including the deposit amount and the payment schedule. The buyer typically provides a deposit when the contract is signed, and the remaining balance is paid at closing. You can also specify the preferred payment method, such as wire transfer or certified check.

Overall, using an FSBO contract template can help you sell your property successfully and avoid any legal issues. Just make sure to include all the necessary information and consult with a lawyer if you have any questions or concerns.

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