FSBO Purchase Agreement: identify the transaction
A purchase agreement records a buyer’s and seller’s actual obligations, conditions and closing arrangements. It does not itself prove payment, complete an inspection, approve financing or transfer a title that requires a separate instrument.
Identify the exact parties and signers, capacities, ownership, required consents and notice contacts. Select the document matching the property or interest being acquired. Describe exceptions and unknown facts openly instead of converting unanswered questions into representations.
Property, price and transfer terms
Describe the property by its actual legal description and parcel records. Identify buildings, fixtures, personal property, exclusions, access, easements, liens, mineral and water rights. Specify the deed, title evidence, insurance and payoff/release arrangements that the parties actually agree to provide.
Enter the price and deposit separately. Name the actual deposit holder, due date, receipt status, credit against the price and lawful release procedure. A disputed default does not automatically entitle the seller to take the deposit. Record any negotiated remedy and required consent explicitly.
Agree on closing/delivery, possession, risk of loss, prorations, taxes, fees, commissions and any holdback or post-closing occupancy. A generic statewide tax figure or local custom cannot replace the actual calculation and allocation. A private allocation does not eliminate liability to a taxing authority.
Selling without a listing broker
A FSBO label does not prove that neither party has a broker or owes compensation. Record the actual representation agreements and approved compensation. There is no automatic standard commission percentage.
An owner sale remains subject to applicable disclosure and closing requirements. Do not wait until closing to deliver a document that must precede the buyer’s binding contract.
Contingencies, financing and actual disclosure
For each financing, inspection, appraisal, title, association or other condition, state the triggering event, exact deadline and time zone, notice method, cure opportunity and termination/refund result. Do not assume a repair request extends another deadline.
For covered pre-1978 housing, use the complete separate lead disclosure and certifications, provide actual known-hazard information, available records and the EPA pamphlet at the required time, and record the buyer’s actual inspection election. A generic purchase clause is not a receipt or substitute for the complete disclosure. Investigate unknown construction age before signing.
FHA and VA purchases have distinct appraisal-protection requirements. The wizard includes the current FHA amendatory or VA escape wording when selected and requires confirmation of the lender’s document review. It does not supply missing agent signatures, the FHA Real Estate Certification or an appraisal approval.
Applicable requirements
Confirm the rules for the actual transaction, property, parties, entity and closing location. A selected state does not establish an exemption, deliver a notice or approve a document.
Confirm the scope and any statutory exceptions before treating a disclosure as inapplicable. Identify local requirements and the actual transfer/closing instruments. The linked disclosure source addresses its stated subject; it is not a complete certification of every rule governing the transaction.
Review the complete package before signing
Record actual notice contacts, agreed dispute procedure, default/cure terms, attachments, required approvals and execution formalities. Arbitration, a jury waiver, prevailing-party fees and automatic deposit forfeiture are not preselected.
Select unsigned draft while facts, mandatory records or review are incomplete. Signature fields appear only after the required answers and completion checks. The user’s completion selection records their answer; it is not independent legal approval.
Read the generated document and its actual attachments together. A missing state form, title, lender certificate, signature or delivery is not supplied by checking a completion box. Use the required separate official or professionally prepared instruments where the transaction calls for them.
Common questions
Primary sources
Choose the transaction state
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