I've been thinking about purchasing a property that's FSBO. Anyone familiar with what documents I need to execute it?
Would it be a written purchase agreement kind of like a wholesale contract but with the terms changed accordingly to actually purchase the property?
Any information is appreciated, thanks (:
You MAY want to talk to an attorney or Realtor that has done seller financing before. They can get you the contracts.
You can find some information and contracts here somewhere but if this is your first and you're new, you may want someone to keep an eye out for you. Even if you pay them (you should), losing thousands can be a very expensive lesson.
And to answer your question, we would need way more information. You need at least a contract and a seller financing addendum. Then an attorney to write the note after you agree to terms. Probably a seller property disclosure, maybe lead-based paint or radon disclosures. I'm sure California has some more you'd want.
You need several documents along with the purchase agreement. Find a realtor and ask them for those documents. If you can't find anyone, ask me, although I'm in a completely different state and therefore I'm limited to how I can help you.