PDA

View Full Version : FSBO . Found buyer - how to proceed?


jojo55
Jul 3, 2009, 09:56 AM
We are selling a property by owner. We have found a buyer and agreed (verbally) on the terms. Now how do we proceed?
Can we just download a form from one of these websites for a small fee (like Oklahoma Residential Real Estate Sale Contract - FindLegalForms.com (http://www.findlegalforms.com/product/oklahoma-residential-real-estate-sale-contract/) ).
Complete the contract and take this to escrow/title company and they will handle the rest?
We have bought and sold numerous properties in the past, so I think I know what we all need to put in the contract, however we have never done this without realtors involved so I want to make sure we are handling this the right way.

JudyKayTee
Jul 3, 2009, 10:01 AM
I don't think this is the answer you're looking for but I would neither buy nor sell without an Attorney. The legal real estate thread has a bunch of do-it-yourself contracts that went sour.

jojo55
Jul 3, 2009, 10:41 AM
Is it common for attorneys to handle contract and closing in a residential real estate sal for a fixed fee? I contacted one attorney so far and they asked for $150/hr and a $750 retainer. Are some attorneys working on a fixed rate more like closing companies?

JudyKayTee
Jul 3, 2009, 11:02 AM
In NY - which is where I am - Attorneys advertise all the time that they will do all the legal work from the contract to all the filings following the closing for a fixed fee.

I'd keep shopping around.