Sale By Owner Contract Form Template for United States

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Key Requirements PROMPT example:

Sale By Owner Contract Form

"I need a Sale By Owner Contract Form for selling my single-family home in Florida, with specific contingencies for the buyer to sell their current property by March 2025 and including my existing solar panel system in the sale."

Document background

The Sale By Owner Contract Form is essential for individuals conducting private property sales in the United States without professional real estate representation. This document serves as the primary legal agreement between buyer and seller, ensuring all aspects of the transaction are properly documented and legally binding. It includes critical elements such as property description, purchase price, payment terms, contingencies, and required disclosures. The form must comply with both federal regulations and state-specific real estate laws, making it a crucial tool for protecting both parties' interests in FSBO transactions.

Suggested Sections

1. Parties: Identification of seller and buyer with complete legal names and addresses

2. Background: Brief context of the sale and property identification

3. Definitions: Key terms used throughout the contract

4. Property Description: Detailed legal description of the property being sold, including address, lot number, and legal boundaries

5. Purchase Price: Specified amount and payment terms, including deposit and balance due at closing

6. Closing Details: Date, location, and requirements for closing, including document delivery and fund transfer

7. Representations and Warranties: Seller's statements about property condition, ownership, and absence of liens or encumbrances

8. Default Provisions: Consequences and remedies in case of contract breach by either party

Optional Sections

1. Financing Contingency: Terms and conditions related to buyer's mortgage financing requirements and deadlines

2. Inspection Contingency: Terms for property inspection rights, timelines, and procedures for addressing issues

3. Sale of Existing Home Contingency: Conditions and timelines related to buyer's need to sell their current home

4. Personal Property: Specific items of personal property included or excluded from the sale

Suggested Schedules

1. Schedule A - Property Disclosure Statement: Detailed disclosure of property condition, known defects, and material facts

2. Schedule B - Inventory of Included Items: Comprehensive list of fixtures and personal property included in the sale

3. Schedule C - Lead Paint Disclosure: Mandatory disclosure for properties built before 1978 regarding lead-based paint

4. Schedule D - Survey or Plot Plan: Property boundaries, improvements, and easements documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Construction
Banking
Insurance

Relevant Teams

Legal
Real Estate
Finance
Operations

Relevant Roles

Property Owner
Real Estate Attorney
Title Officer
Mortgage Loan Officer

Industries

Fair Housing Act: Federal law that prohibits discrimination in real estate transactions based on race, color, religion, sex, national origin, familial status, or disability

Truth in Lending Act (TILA): Federal regulation that requires disclosure of credit terms and financing information in real estate transactions where applicable

Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, requiring specific disclosures about real estate transactions

Lead-Based Paint Hazard Reduction Act: Federal law requiring disclosure of known lead-based paint hazards in properties built before 1978

State Real Property Laws: State-specific laws governing real estate ownership, transfer, and rights associated with real property

State Disclosure Requirements: State-mandated disclosures about property condition, defects, and other material facts that could affect the property's value

State Contract Laws: State-specific laws governing contract formation, enforcement, and remedies

State Real Estate Transfer Laws: State regulations governing the transfer of real property, including deed requirements and transfer taxes

Recording Requirements: Legal requirements for recording property transfers and related documents with local government offices

Homestead Laws: State laws protecting certain amounts of home equity from creditors and establishing special provisions for married couples

Zoning Regulations: Local laws governing property use, restrictions, and development requirements

Local Transfer Tax Requirements: Municipal or county-specific taxes and fees associated with property transfers

Municipal Code Compliance: Local building codes, safety requirements, and property maintenance standards

Title Transfer Requirements: Legal requirements for transferring clear title to the property, including title search and insurance considerations

Earnest Money Requirements: Laws and regulations governing the handling and documentation of earnest money deposits

Closing Procedures: Legal requirements and standard practices for conducting real estate closings and settlements

Find the exact document you need

Sales And Purchase Agreement Spa

A U.S.-law governed agreement detailing terms and conditions for the sale and purchase of assets, shares, or business, including price, warranties, and closing conditions.

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Let's create your Sale By Owner Contract Form

Authors

Alex Denne

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