Though a seller usually recruits a real estate agent to create a purchase agreement, a homeowner may sometimes choose to represent themselves in the transaction without the help of a real estate agent. This is known as a FSBO (For Sale By Owner) situation. If you choose to move forward with the sale, you will be tasked with outlining a purchase agreement with terms and conditions on the sale.
If you are inexperienced with a situation like this, obtaining the help of an experienced attorney like Robin Mathis is a smart decision. She will provide assistance in creating and reviewing the purchase agreement between you (the buyer) and the seller. Included components are the: sales price, date of closing and details of sale such as: home inspections, lender appraisals (to ensure the home’s value is high enough to require a mortgage)
Fees are included in the creation of a purchase agreement, however they may be included in the commission fee of the seller.