A For Sale By Owner (FSBO) transaction skips the tradition real estate agent or broker. It is not required in Georgia to use an agent to sell a home.
If a Buyer and Seller have negotiated a purchase price for the home — it’s time to put it in writing. A Real Estate Contract, also called a Purchase and Sale Agreement, is a written agreement, legally binding and enforceable by law.
When to hire a lawyer or title company for Closing?
An attorney is required in the home (for sale by owner) closing process in Georgia. Attorneys handle title, money and deed transfer. If the parties have signed a Real Estate Contract or Purchase and Sale Agreement, then the next step is to open a title order with a real estate attorney. The attorney will then review the title, conduct the closing and disburse funds.
Need help with a Real Estate Contract or Purchase and Sale Agreement.
If the parties are negotiating or agreed on a purchase price, then a real estate attorney can prepare a Purchase Agreement. An attorney will help with the terms and special stipulations in a Contract. Be prepared to discuss the purchase price, earnest money deposit, seller contribution to closing costs, financing, inspection period (due diligence) and any special stipulations.