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#457695 - 05/07/17 08:01 AM For Sale By Owner
rjlocal22 Offline
Member

Registered: 01/22/17
Posts: 17
Loc: Pennsylvania
On an agreement of sale, what should be included and does the buyer or seller prepare it? Does the seller have to prepare a
"Sellers Disclosure Document"?
I have had a difficult time and expense trying to purchase a Hud property and a REO property.
So I decided to stay away from foreclosure's and look at FSBO or properties listed by brokers who represent the public.

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#457696 - 05/07/17 09:20 AM Re: For Sale By Owner [Re: rjlocal22]
Vermont Offline
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Registered: 04/12/08
Posts: 7591
Loc: Vermont's North-East Kingdom
The first step in a Real Estate Transaction is for the Buyer to make an Offer, so I'd imagine that s/he has to be the one to prepare it (who else would know what the Offer amount will be ?).

In some jurisdictions, it's still a 2 step process with a Buyer making an Offer on what is called a "Binder"; but it's not actually binding unless the Seller also signs the Binder . . . . thereby agreeing not to sell to someone else before a comprehensive and detailed Purchase and Sales Agreement (Contract) can be drafted by the two of them.

Without a Broker being involved, you can hire a Conveyance Attorney to prepare these documents from scratch. Stationery stores used to offer blank forms that could be used for these purposes; and maybe Legal Zoom offers something similar.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#457699 - 05/07/17 12:16 PM Re: For Sale By Owner [Re: rjlocal22]
rjlocal22 Offline
Member

Registered: 01/22/17
Posts: 17
Loc: Pennsylvania
Thanks.
Hiring an attorney would be the safest move.

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#457702 - 05/07/17 12:29 PM Re: For Sale By Owner [Re: rjlocal22]
WolfHouse Offline
Member

Registered: 04/03/17
Posts: 32
Loc: Winter Park, Florida (United S...
I agree on the attorney. Better safe than sorry.
_________________________
Wolf Wants Houses in Florida

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