Contracts & Closings

When selling FSBO, be sure to hire an experienced Real Estate Attorney or Title Company to assist you with the legal components of the transaction.  Contracts and closings vary by state and it is imperative that you are aware of your legal obligations.  Take the time to review your documents several days before the closing.  Be sure your forms are completed and that you have met your obligations.  If the contract is properly prepared, your closing will go smoothly and both the Buyer and Seller will feel good about the transaction.

Many states require the seller to present the buyer with a "Disclosure Statement" prior to the closing.  In this legal document, the seller must "disclose" the condition of the property that is being sold, along with any known defects.  This document should be signed by both the Buyer and the Seller.

Inspect the property one last time before the closing.  Verify that repairs have been made and that the property has been properly maintained. 

Local custom dictates how real estate closings are handled. In many states closings are handled by a title company, while other states may have the custom of using a real estate attorney to handle the closing.  Check with your real estate attorney or title company to find out the guidelines in your state.