FSBO Contract to Sell
Greetings All.
Am helping a very good friend try and sell his Moms house. He is the Executor. Ea sternMonmouth County, NJ
We have sweated over the listing price and even with the downturn, at least in our little corner of the world the prices are strong and supply is low. Besides Zillow "guesstimate" I have full MLS access and we feel pretty confident in the starting price. The plan is if not under contract by the end of Jan. it will go on MLS. We know that this is not the most opportune time for sales,
We expect mostly the investor type. It is ok shape, but does need work [NOT a teardown]. It is close to a municipal parking lot and I consider it to be a B- to C+ location. Oh, it is 2 miles to the Altantic Ocean.
So, my question is: besides "STRICTLY ''AS IS''. "Do your Due Diligence. Seller will not make any repairs or issue any credits."Any and all offers must be presented in writing on a Contract For Sale. That contract will be presented to the Sellers Attorney for his review and approval. No exceptions."
Is here anything else I should add to the handout for the open house.
Lastly [for now] I had asked him to get his lawyer to write a contract for sale for this. The lawyer responded wqth "allow The Buyer[s] to present a contract and then we can accept/amend/or reject at that time.
I have sold 3 houses FSBO [a long time ago] and always controlled the process by having MY contract, received from an atty. and modified and re-used twice. Here, I feel that if we were to get say 3 or 4 contracts/offers the review costs could be significant.
I thank you for the opportunity to ask these question and appreciate any and all input.
Jackie Cramer
P.S New Jersey is a lot bigger than Jersey City or Newark but these were the only 2 areas available.
You asked for all input....
Do you really think you will be able to get a price within 94% of what it would sell if you listed with an agent? Given you have to pay your attorney to look over a contract and you are going to be spending a lot of time doing showings and answering dumb phone calls, this seems like a bad plan. I'd find an agent that sells properties like the kind you are selling and list with them.