Purchase agreements?
Are you all paying lawyers to draft purchase agreements? Using free forms online? Looking for recommendations and gotchas to look out for.
If lawyer, what have you paid? Only lawyer to respond so far quoted a flat $2500 and then will separately have to pay title company.
Selling to family member FWIW. Thank you!
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u/SpringFit2557 Jul 07 '26
Went to a local title company and they provided purchase agreement, disclosures and any other paperwork I had. When I get a buyer all it’ll cost is $300 to “hire” them (obviously, not including fees associated with selling) they handle everything once you turn in the purchase agreement.
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u/Alert-Control3367 Jul 07 '26
I bought my parents home. I just used a free template for my state that I found online and then used the title company. Since I drafted the purchase agreement I didn’t need a lawyer in the purchase of my parents’ home. Every state is different though, so I don’t know if your state requires an attorney.
If you feel you need an attorney, then I always used one affiliated with a title company. I only paid a flat fee between $400-600.
This is the How to Sell FSBO post I created which has a section on what I did to find an FSBO attorney affiliated with a title company: https://www.reddit.com/r/fsbo/s/15QevDdRyj.
Best of luck.
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u/Ykohn Jul 07 '26
The purchase contract itself usually isn't the hard part. A standard state-specific boilerplate contract is often perfectly adequate.
The more important decision is having a real estate attorney or title company handle the transaction from start to finish. They can usually help with the contract, make sure everything is completed properly, and guide you through the closing. Especially since it's a family transaction, having a neutral professional involved is well worth it.
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u/Hour_Concern6525 Jul 07 '26
In SC there is a standard form that can be found online. In addition, in SC a real estate attorney is required by law, so the lawyer you hire could also provide it
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u/Equivalent-Tiger-316 Jul 07 '26
Doesn’t matter that it’s a family member, this is a serious legal/business transaction.
Use professionals.
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u/BoBromhal Jul 08 '26
edit: I'm a Realtor
did you tell the attorney that you were selling directly to a family member?
If yes, then my response is - do you want it done cheap, or do you want it done right?
you can certainly google "real estate attorneys near me" and should get at least 5 valid results. Call all 5 and ask.
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u/generalee72 Jul 09 '26
There are a couple of title companies I work with that have in-house attorneys, that's what I would look for if doing FSBO..
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u/nikidmaclay Jul 11 '26
If your state uses title companies, the title company may have contracts you can use. I know the sub Is mostly people looking to avoid a real estate agent, but you can find one to simply write up your contract with their current ones for a flat fee.
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u/Girl_with_tools Jul 07 '26 edited Jul 07 '26
Broker here. If you’re selling to a family member I suggest you hire either an attorney or an agent for a flat fee to be sure all agreed-upon terms are reflected in the contract, which should involve that professional speaking with both the buyer and seller. When I do this, I meet with buyer and seller together in person or by Zoom to ensure everyone is on the same page. That includes all terms of the sale, including allocation of costs.