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Home FSBO - contract review
Posted on 7/19/16 at 7:37 am
Posted on 7/19/16 at 7:37 am
How important is it to have a lawyer review an offer to purchase? I can read pretty well and understand the high level points of a home sale, having made two transactions already.
Any other FSBO tips you have are appreciated. Market is very hot right now so I'm thinking that I can handle this. I've already had two showings before the house is even listed.
Any other FSBO tips you have are appreciated. Market is very hot right now so I'm thinking that I can handle this. I've already had two showings before the house is even listed.
3
Posted on 7/19/16 at 7:51 am to seawolf06
I've done it without. Not sure it was the safest thing to do. If I were you, I'd just ask that I provide the "blank contract" from one of the many you can pull off of the internet. That way you really just need to understand the blanks they filled in regarding what goes, what stays, what the terms are in regards to timeframe, etc.. You don't have to worry that they pulled a form and threw in some language on their own that "screws" you. It's not like your real estate agent gets a lawyer to go through everything (in terms of purchase agreement). Granted they understand the contracts more, but they are just filling out a pre-written form same as anyone. Unless there was some very large deviation from a standard contract, I personally wouldn't be too worried. Worst case, you are out your deposit/good faith (which has been like $2k at most for me), and I doubt that happens. Otherwise, I'm sure a real estate lawyer will take a few hundred bucks to look at it for an hour.
Posted on 7/19/16 at 9:06 am to KG6
I would just bring it to whatever title company yall plan to close it at and they will sit down and help yall write out the contract so neither one of you get surprised. They shouldn't charge you anything extra.
Posted on 7/19/16 at 9:52 am to LSU1018
Hire a broker for a flat $500 - $1000 to do all of the paperwork and look over your shoulder during the process. I do it all the time for friends and referals.
Posted on 7/19/16 at 10:55 am to seawolf06
In Louisiana, there is a standard form that can be downloaded from the state real estate commission. You just check the boxes and fill in the forms.
Posted on 7/19/16 at 12:21 pm to LSUFanHouston
quote:
In Louisiana, there is a standard form that can be downloaded from the state real estate commission. You just check the boxes and fill in the forms.
This.
Posted on 7/20/16 at 11:21 am to seawolf06
I posted my home on FSBOBR and they did a good job of supplying the documents and walking you through the process. They have a lot of companies that contact you for services, but you can always shop around.
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