Does anyone know how/where I can get a standard contract, since we are not using a realtor? I was told an office supply store or online. Has anyone done this before? Please tell me what you recommend. Thanks!
FYI - we already have buyers (our neighbors)! Thank you, a lawyer it is. Better to be safe than sorry. Thanks!
FSBOs are easy - good for you!
All real estate contracts are fairly boilerplate. You'll have spaces to write in any specifics (the shades stay, the mantle goes).
Have you tried looking for any before you came here?
Here you go:
http://www.nevadalegalforms.com/forms/category/59
State and local laws change though, so you may still want at least a consultation with a real estate attorney so that you cover your bases.
i dont take real estate law til next semester but i talked to mom a realtor and she suggested a lawyer...it will be cheaper then a lawsuit for missing something in the very detailed contracts these days...all u need is the legal contract and settlement company date....the settlement company does NOT represent u or ur neighbors....they represent themselves. a lawyer drawing up a simple contract shouldnt cost too much or u can find a reputable paralegal and they can work up the papers for settlement...store bought ones and online ones are very generally worded, it is up to u to put in the fine details....its the fine details that will cost u later...
HIre an attorney. An attorney should be only about $300-$500 and can draw up all of the paperwork and make sure everything is done correctly. We used an attorney through two purchases and a sale even with realtors involved. For a transaction that's worth hundreds of thousands of dollars, a few hundred for the paperwork is money well spent.
You can look online for your state requirements - they vary by state. Selling without a realtor is fine. It's *buying* without one that worries me more - could be problems with the title. But since you're selling, just google 'real estate contract' and 'Nevada' or go to Staples or Office Max.
Glad you are getting a lawyer. We did this and paid $400 for the lawyer. And he paid for himself because at the closing, the buyer's lawyer tried to put some of the closing costs on our side that were not our responsibility. He caught it and said no way. We never would have known.
You can find the forms at Staples or Office Depot like Cheryl O said. You should at least have a title lawyer go over all the paper work to protect yourselves and the buyer. Not all states require a lawyer but they can help with the paperwork.
Real estate attorney . . . I'm all for DIY but the buying/selling of real property is big with lots of room for problems. Save yourself the heart ache.
You're smart to sell it w/o a realtor. We sold our last house to the person who owned the house next to it the same way, saved money and time. As others have pointed out it's much more risky to buy that way then sell as you're the one walking away.
We did hire a lawyer but honestly the only benefit was peace of mind, he didn't do much. It really depends on how cofortable you are, if you are worried at all spend the $$$ and hire someone to look over everything. It'll be a lot less expensive than realtor commissions and you will know it's done right.
Good luck and congratulations on not having to go through the process of putting it on the market and showing it, you've saved yourselves a lot of work and stress!
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you can go to Office Depot or Staples - they have a full section of contracts - simple and complex.
Legalzoom.com
I personally wouldn't do a FSBO - I would much rather negotiate the commission with the realtor in advance.
Yes, we bought a FSBO and it was smooth sailing. You're SMART for saving the commission, as long as you can sell it quickly, which means pricing it right. Also be clear about your price...people will assume you will knock off 6-10% of the asking price due to no commissions.
Office supply store or google it. Basic forms abound.
A closing company will provide an attorney, etc.
What sold our first house FAST?:
*I made a flyer listing the dates and improvements/updates/replacements made during my ownership.
*I made another flyer with pictures of each room and the dimensions of each room clearly marked, as well as an external shot of the house. (When people look at 10 houses in a day, they blur together--so make yours easy to remember about the specifics.)
*Make plenty of each of the above and staple packets together and have them readily available. (You can even put an "info" box in your yard with flyer packets, to be taken by anyone that stops by.
•Keep the house in "show" condition 24/7
•Pack away most personal belongings (family pics, excess toys, etc.) There should be room in every closet and cupboard.
•Clean, clean, CLEAN. No O. will be interested in a house that doesn't gleam.
•Be willing to show the house at the drop of a hat, even if someone stops by unannounced.
•Hold Open Houses yourself (post signs) at least O. weekend per month.
•Ignore the 20,000,000 calls you're going to get from realtors telling you that they can sell your house faster than you can.
•Consider getting a home inspection done (at your expense) and provide copies to buyers.
*Tell everyone that you know (friends, co-workers, church members, relatives) that you are selling your house.
•Remember, you only need O. qualified buyer.
GOOD LUCK!!!
