Posted by David Barnett on July 06, 2008 at 16:33:29:
You can go to www.lawdepot.com or similar sites and buy a contract for about $12.
Dave
Self Prepared Real Estate Contract? - Posted by Andy
Posted by Andy on July 04, 2008 at 15:20:59:
I have a duplex I want to sell and I have a buyer. There is no real estate agent involved. In the past, I have always had my attorney prepare the contract when there is no real estate agent involved. In this situation, i am not willing to pay for the contract to be prepared and have asked the buyer to pay for it. He said he doesnt want either one of us to pay for the contract and his bank told him that we can just type up something and sign it.
Anyone have any opinions on selp preparing the contract? What are the pitfalls in doing this?
Anyone have a generic contract that they would be willing share?
Just not sure if its safe for me to go with a self prepared contract???
not much of a deal if … - Posted by steve
Posted by steve on July 07, 2008 at 16:16:17:
can’t pay a small attorney fee for a GOOD contract.
why not have the attorney do the closing and he may do contarct cheaper or for free.
Re: Self Prepared Real Estate Contract? - Posted by michaela-CA
Posted by michaela-CA on July 06, 2008 at 19:37:11:
just keep in mind - he who prepares the contract controls what’s in it - meaning: The contract is usually in favor of the side that prepares it.
Personally, I always make out my own contract and custom taylor some things to the deal. Other than my first deal, I’ve never used an attorney to write up the contract.
But if it’s not something you do a lot, then you’re better off paying the extra money to let your attorney create it. One wrong word, if their attorney did it, could cost you a whole lot more than the attorney’s fees. I would always be the one to control the contract.
Michaela
Re: Self Prepared Real Estate Contract? - Posted by IB (NJ)
Posted by IB (NJ) on July 04, 2008 at 16:30:12:
I usually take one of my old contracts I used on a recent deal and edit it myself. However, I don’t sign it just in case (as usual) I leave something important out. I then fax it over to my buyer’s attorney with a note for her to contact my attorney. I then fax a copy to my attorney. He usually reviews my contract, prepares an addendum reflecting some changes he’d like to make and faxes it to the buyer’s attorney. The ball is then rolling at that point which is all you want to do.
VERY Dangerous advice from the bank. Are they willing to represent you should you write something up that has you agreeing to something you can regret later?
Ib