Elements of a FBSO Contract: 1. Name the parties in the contract.An FSBO attorney can oversee and manage the entire sales process from drafting the initial Residential Purchase Agreement and Joint Escrow Instructions. You will also still have to pay the buying agent out of the transaction and most realtors and agents wont touch a FSBO transaction. California requires those selling FSBO to fill out and file many documents and forms. Several of these documents are legally binding agreements. Attorneys Real Estate Group. The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity.