Simple Real Estate for Sale by Owner Contract Template

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Are you a homeowner looking to sell your property without the assistance of a real estate agent? If so, you`ll need a contract to outline the terms of the sale. Luckily, there are many simple real estate for sale by owner contract templates available online.

A for sale by owner contract, also known as an FSBO contract, is a legally binding agreement between the seller and buyer. It sets out the terms and conditions of the sale, including the purchase price, payment terms, and any contingencies.

When creating an FSBO contract, it`s important to include the following key elements:

1. Identification of parties: This section identifies the seller and buyer, as well as any agents involved in the transaction.

2. Description of property: Include a full description of the property, including the address, legal description, and any other relevant information.

3. Purchase price: This section outlines the purchase price of the property and any terms related to payments or financing.

4. Contingencies: Any contingencies that must be met before the sale can proceed, such as a satisfactory home inspection or mortgage approval, should be included.

5. Closing date: The contract should specify the date of the closing, when the ownership of the property will transfer from the seller to the buyer.

6. Signatures: Both the seller and buyer should sign the contract, as well as any agents or witnesses.

Using a real estate for sale by owner contract template can make the process of creating a contract much simpler. Many templates are available online for free or for a nominal fee, and can be customized to meet the specific needs of your sale.

As with any legal document, it`s important to thoroughly review the contract before signing it. Consider having a lawyer review the document to ensure it complies with state and local laws and protects your interests.

In conclusion, if you`re selling your property without an agent, a real estate for sale by owner contract template is a valuable tool to ensure a smooth and legal transaction. Be sure to include all necessary elements, review the document carefully, and seek professional advice if needed.