Who Drafts The Purchase Agreement

There are many types of contingencies that can be included in real estate contracts on the buyer`s and seller`s side, and it`s important to understand all the contingencies included in your purchase agreement, usually the seller`s agent is the person held responsible for this task. However, in an FSBO situation, the seller can hire a real estate lawyer or a lawyer. Some States require that such agreements be concluded by State-approved lawyers in any case. You will have the most experience and will be able to explain the sometimes difficult to read additions that cause confusion or misunderstandings in a case. There are fees associated with preparing an FSBO purchase agreement. It`s considered closing costs, and when it comes to closing costs, everything is negotiable. Buyers usually pay a certain percentage and may require certain expenses to be covered by the seller.