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    jojo55's Avatar
    jojo55 Posts: 29, Reputation: 1
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    #1

    Jul 3, 2009, 09:56 AM
    FSBO . Found buyer - how to proceed?
    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 ).
    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's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    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's Avatar
    jojo55 Posts: 29, Reputation: 1
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    #3

    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's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    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.
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