If you`re selling your home in Texas, you may be considering going the “For Sale By Owner” (FSBO) route. This means that you will be selling your home without the help of a real estate agent. One important aspect of this process is the FSBO contract.

The FSBO contract is a legally binding agreement between the seller (you) and the buyer. It outlines the terms of the sale, including the price of the home, any contingencies, and the closing date. Having a solid contract in place is crucial to ensure a smooth and successful sale.

Here are some key elements to include in your FSBO contract in Texas:

1. Property description – This should include the address of the property, the size of the lot, the number of bedrooms and bathrooms, and any other important details about the property.

2. Purchase price – This is the price at which you`re selling your home. Make sure it`s clear and easy to understand.

3. Deposit – The buyer will typically put down a deposit when they sign the contract. This is usually a percentage of the purchase price. Make sure to specify the amount and what happens to the deposit if the sale falls through.

4. Contingencies – These are conditions that must be met for the sale to go through. For example, the buyer may require a certain number of days to conduct a home inspection. Make sure to specify any contingencies in your contract.

5. Closing date – This is the date on which the sale will be finalized. Make sure to agree on a specific date with the buyer.

6. Seller disclosures – In Texas, sellers are required to disclose certain information about the property, such as any known defects or hazards. Make sure to include this information in your contract.

7. Signatures – Both you and the buyer will need to sign the contract to make it legally binding.

It`s important to note that the FSBO contract can be complex and may require legal assistance. Consider consulting with a real estate attorney to ensure that your contract is legally sound.

In summary, if you`re selling your home by owner in Texas, having a strong FSBO contract is essential. Include all necessary elements, be clear and specific, and consult with a legal professional if necessary. With the right contract in place, you can sell your home smoothly and successfully.