A For Sale by Owner (FBO) Purchase and Sale Agreement (Help Packet) is a legally binding contract between a seller and buyer that outlines the terms of the sale of a property. It serves as a record of the transaction and helps protect both parties in the event of a dispute. Generally, the help packet will include the following documents: 1. The Purchase and Sale Agreement: This document outlines the legal terms of the sale. It will include the agreed-upon purchase price, closing date, and any conditions of the sale. 2. Addendums: Depending on the circumstances of the sale, addendums may be added to the agreement to cover special arrangements, such as financial arrangements and contingencies. 3. Disclosure Statement: This document outlines any known defects or issues with the property that must be disclosed to the buyer. 4. Lead-Based Paint Disclosure: If the property was built before 1978, a lead-based paint disclosure must be included to alert the buyer of potential lead-based paint hazards. 5. Title Insurance Commitment: This document provides a buyer with assurance that the title to the property is free and clear of any liens. 6. Property Inspection Report: This report outlines any issues that were discovered during the inspection of the property and any repairs that may need to be made. 7. Closing Statement: This document outlines the costs associated with the sale, including closing costs and taxes. 8. Warranty Deed: The warranty deed is the document that legally transfers ownership of the property from the seller to the buyer. 9. Closing Instructions: This document outlines the steps that must be taken to close the sale.
A For Sale by Owner (FBO) Purchase and Sale Agreement (Help Packet) is a legally binding contract between a seller and buyer that outlines the terms of the sale of a property. It serves as a record of the transaction and helps protect both parties in the event of a dispute. Generally, the help packet will include the following documents: 1. The Purchase and Sale Agreement: This document outlines the legal terms of the sale. It will include the agreed-upon purchase price, closing date, and any conditions of the sale. 2. Addendums: Depending on the circumstances of the sale, addendums may be added to the agreement to cover special arrangements, such as financial arrangements and contingencies. 3. Disclosure Statement: This document outlines any known defects or issues with the property that must be disclosed to the buyer. 4. Lead-Based Paint Disclosure: If the property was built before 1978, a lead-based paint disclosure must be included to alert the buyer of potential lead-based paint hazards. 5. Title Insurance Commitment: This document provides a buyer with assurance that the title to the property is free and clear of any liens. 6. Property Inspection Report: This report outlines any issues that were discovered during the inspection of the property and any repairs that may need to be made. 7. Closing Statement: This document outlines the costs associated with the sale, including closing costs and taxes. 8. Warranty Deed: The warranty deed is the document that legally transfers ownership of the property from the seller to the buyer. 9. Closing Instructions: This document outlines the steps that must be taken to close the sale.
