Maurice Gilmore - SECRETS FOR SELLING YOUR HOME ALONE

CHAPTER 12 How to Write A Contract and Sell Your House Without An Agent WRITING A CONTRACT Selling a property without the help of an agent requires you to write out a contract on your own. This type of contract is usually termed as an FSBO (For Sale by Owner) contract. Preparing the contract isn’t too difficult a task once you have mastered the basic procedures and done your research. To make things simpler for you, I’ve described the procedure in a step-by-step manner here.

STAGE 1: PROVIDING BASIC INFORMATION

Write down the names of the parties — Name the parties involved in the contract. This will include the full legal names of the seller and the buyer, as well. For clarity, using the full name of the seller and buyer in the first paragraph of the contract is good practice. However, once the name has been mentioned, the parties can simply be referred to as the “seller” and “buyer” throughout the rest of the contract. It is also customary to state the marital status of the parties involved. Naming the contract — It is important to title the contract so that its purpose is clear. There’s no hard and fast rule regarding how a contract should be titled. For example, you could simply name it “Real Estate Purchase Contract” or “Purchase Agreement.” The title is usually placed at the top of the contract. Once the contract has been titled, you can use a shortened form of the title throughout the body of the contract. For instance, if you use the title “Real Estate Purchase Agreement,” you can simply refer to the contract as “the Agreement.” 99

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