CHAPTER 12 How to Write A Contr e A Contract and Sell act 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 an FSBO (For Sale by Owner) contract. Preparing the contract isn’t too tricky a task once you have mastered the basic procedures and done your research. To simplify things, I’ve described the procedure in a step-by-step manner here.
STAGE 1: PROVIDING BASIC INFORMATION
Write down the parties' names — Name the parties involved in the contract. This will include all the legal names of the seller and the buyer. 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 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 to clarify its purpose. There’s no hard and fast rule regarding how a contract should be titled. For example, you could 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 refer to the contract as “the 100
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