For Sale By Owner Real Estate Contracts
Get
contracts in advance
One
of the most important steps you can make
in selling your home is to familiarize yourself
with the required real estate legal forms.
Get the required contracts now because someone
may want to make an offer on your home at
the first showing. A real estate agent will
never show a house to a potential buyer
without having his/her briefcase full of
real estate contracts.
If
you show your home to a buyer and he says,
"Yes, I love it. I want to make an
offer" and you don't have any contracts,
you look unprepared to the buyer. He may
have concerns if this will be a successful
purchase or not.
A buyer will not have any contracts on them
and even if he/she does, you would feel
better if you provided the forms. It is
your home, after all.
Should
you use Free Real Estate Forms?
No,
you should not use Free FSBO forms in the
sale of your home or any other legal transaction.
Free legal forms are not state-specific.
They are written to be very broad and non-specific.
In most cases, they do not satisfy the laws
of your state and are not valid in a real
estate transaction.
lf
you use these non-state-specific real estate
contracts, you are taking a big risk by
using contracts that will not satisfy your
state's requirements. In addition to the
Sales Contract, your state may require additional
documents such as a Disclosure Form, Disclosure
Statement, Lead-Based Paint Disclosure,
etc...
It is a wiser decision to use only the forms
that have been drafted to comply with your
state's laws. We highly recommend US Legal
Forms, Inc. as your source of documents
for a real estate transaction.
is the leading provider of state-specific
legal forms over the Internet. Their forms
are written by attorneys to satisfy the
laws of each state.
Examples
of Non State-specific real estate forms:
- Free
Online Real Estate Forms found on various
real estate websites
- Contracts
from an office supply store
State-Specific
Real Estate Legal Forms
Make sure you have the right contracts for
a real estate sale in your state.
Every
state has different requirements and you
don't want to take any chances that your
Sales Contract is not the required real
estate contract in your state. Also, there
are additional contracts that may be required
for your home such as Lead-Based Paint Disclosure
Form or Residential Disclosure Form.
Examples
of state-specific real estate contracts
- Forms
used by your local Title Agency
- Forms
used by your local Real Estate Agency
- Forms
sold at
USLegalForms.com
Who
is US Legal Forms ™
US
Legal Forms, Inc. is the leading publisher
of State Specific legal forms over the Internet.
Whether you are an attorney, small business
or consumer, USLF provides online legal
forms prepared by attorneys for a reasonable
price, in an easy to understand format.
Real estate forms are drafted to comply
with the laws of each State. USLegalForms
is also endorsed by Dave
Ramsey, Author of Financial Peace University.
USLegalForms.com
is a very user-friendly web site... just
click on the category of contracts you want
to view (in this case, Real Estate). Then
click on your state and it will return a
listing and description of all forms required
to close a real estate deal in your state.
Forms are available online or you can order
"printed forms" to be mailed to
you. It really can't get any easier than
this.
Real
Estate Forms available at US Legal Forms
™
- Closing
Forms
-
Contract for Deed
- Construction
Liens
- Counterproposal
- Deed
of Trust
- Easement
Forms
- Environmental
Assessment Addendum
-
Extension of Closing Deadline
- Farms
- First
Refusal Agreement
-
FNMA Mortgage
- Home
Sales
- Homestead
Exemptions and Forms
- Landlord
Tenant
- Lead
Base Paint Disclosure
- Lot
or Land Purchase Contracts
- Mortgage
Forms
- Mortgage
Satisfaction
- Mortgage
Assignment
- Notice
of Recording
- Offer
to Purchase Forms
- Promissory
Notes
- Purchase
Contracts
- Power
of Attorney
- Real
Estate Partnership
- Release
of Liability
- Seller's
Disclosure Statement
Other
popular forms available at U.S. Legal Forms
™ are:
- Residential
Leases
- Power
of Attorney
- Will
- Legal
Guardian
- Bankruptcy
- Divorce
- Name
Change
- Credit
Repair
- Copyright
How to choose a Title Company...
Now
that you have all the correct forms and
contracts for selling your home, you need
to select a Title Company to perform the
closing.
Important
factors in choosing a Title Company:
- What
is the reputation of the title company?
Ask your friends, co-workers and neighbors
who have had recent real estate transactions
if they can recommend a company.
- Look
at the professionalism of the title company
or escrow agent you are considering. They
should be knowledgeable, efficient, friendly,
and confidential. Ask a lot of questions
when interviewing your potential escrow
closing agent. Ask about their previous
experience. Have they handled many FSBO
transactions? Are they experienced in
handling loan documents? Do they have
experience in handling possible title
problems that may be found in the title
report?
- Find
a title agent in a convenient location
since you will need to visit the escrow
agent's office one or more times to prove
your identity, sign papers, and deliver
or pick up a check. Select an agent with
an office conveniently located near your
home or work so you can reach it during
normal business hours in just a few minutes.
- Finally,
what are the fees of the Title Agent?
You will want to select the most reputable
and professional escrow or closing agent
you can find, combined with the one who
also charges the most reasonable fees.
Before you sign the contract...
When
you and the buyer come to an agreement on
price, closing date, inspections, etc...,
have
your real estate attorney look at the terms
between you and the seller before you sign
the contract. If you don't have a real estate
attorney, contact the Title Agency which
will be closing on the home. They should
have a staff of real estate attorneys who
can look over your contract for a very reasonable
fee.
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