Free FSBO Purchase Contract Template
Sell or buy property without a real estate agent using a professional For Sale By Owner purchase contract. Our comprehensive template covers purchase price, earnest money, contingencies, disclosures, and closing terms for any US residential transaction.
Property Address: 2845 Oakwood Drive, Austin, TX 78745
County: Travis County
State: Texas
Legal Description:
Lot 14, Block 3, Oakwood Estates Subdivision, as recorded in Volume 123, Page 456 of the Map Records of Travis County, Texas
Parcel/Tax ID: 01-2345-6789
Property Type: Single-Family Residence
Lot Size: 0.25 acres | Year Built: 1998 | Approx. 2200 sq ft | 3 bedroom(s) | 2.5 bathroom(s)
Together with all improvements, fixtures, and appurtenances thereto, and all rights, privileges, and easements belonging to or in any way pertaining to the Property, unless expressly excluded herein.
Earnest Money Deposit: 5,000.00 USD, to be deposited within 3 business days after mutual acceptance of this Agreement, held in escrow by First American Title Company.
Financing: Conventional Mortgage. Loan amount: 280,000.00 USD.
Down Payment: 70,000.00 USD.
The balance of the Purchase Price, after application of the earnest money deposit and loan proceeds, shall be paid in certified funds, cashier's check, or wire transfer at closing.
The earnest money deposit shall be applied toward the Purchase Price at closing. If this Agreement is terminated pursuant to any contingency provision herein, the earnest money shall be returned to Buyer in full, less any cancellation fees if applicable.
At Closing, Seller shall deliver to Buyer a general warranty deed (or equivalent deed customary in the State of Texas) conveying good, marketable, and insurable fee simple title to the Property, free and clear of all liens, encumbrances, easements, and restrictions, except for standard exceptions and those accepted by Buyer in writing. Seller shall satisfy any mechanic's, materialman's, or tax liens of record at or before Closing from sale proceeds.
FIRPTA Withholding. If Seller is a "foreign person" within the meaning of the Foreign Investment in Real Property Tax Act, Buyer or the closing agent shall withhold and remit tax under IRC §1445 (generally fifteen percent (15%) of the amount realized), unless a statutory exemption or reduced-withholding certificate applies. Seller shall execute a non-foreign affidavit under IRC §1445(b)(2) at or before closing if applicable.
Inspection Contingency: Buyer shall have 10 calendar days from the effective date of this Agreement to conduct, at Buyer's expense, any and all inspections of the Property, including but not limited to: general home inspection, structural inspection, pest/termite inspection, radon testing, mold testing, septic/sewer inspection, well water testing, and environmental assessment. If Buyer is not satisfied with the results of any inspection, Buyer may: (a) request that Seller make repairs; (b) accept the Property in its current condition; or (c) terminate this Agreement and receive a full refund of the earnest money deposit.
Financing Contingency: Buyer shall have 30 calendar days from the effective date to obtain a firm written loan commitment for the financing described herein. Buyer agrees to promptly apply for financing and to diligently pursue loan approval. If Buyer is unable to obtain the required financing commitment within the specified period, Buyer may terminate this Agreement by written notice.
Appraisal Contingency: The Property must appraise at or above the Purchase Price. If the appraised value is less than the Purchase Price, Buyer may: (a) proceed with the purchase at the agreed price; (b) negotiate a reduction in the Purchase Price to the appraised value; or (c) terminate this Agreement and receive a full refund of the earnest money deposit.
Title Contingency: Seller shall, within a reasonable time after acceptance, provide Buyer with a preliminary title report or title commitment. Buyer shall have a period of 10 business days from receipt to review and object to any title exceptions. Seller shall have a reasonable time to cure any objections. If Seller is unable or unwilling to cure title defects, Buyer may terminate this Agreement and receive a full refund of earnest money.
Seller Disclosure: Seller shall provide Buyer with a written property disclosure statement as required by applicable state law (e.g., Cal. Civ. Code §§1102-1102.17 Transfer Disclosure Statement; N.Y. Real Prop. Law §462 Property Condition Disclosure Statement; and equivalent statutes in other states), detailing all known material defects affecting the Property. Regardless of any waiver, Seller remains obligated to disclose latent material facts known to Seller that would affect the value or desirability of the Property (see Reed v. King, 145 Cal. App. 3d 261 (1983)).
Included Fixtures and Appliances: Refrigerator, dishwasher, washer/dryer, window blinds, ceiling fans, light fixtures, built-in shelving, garage door opener
Excluded Items: Master bedroom chandelier, garden sculptures
Home Warranty: Seller shall provide a home warranty policy not to exceed $500.00 covering repair or replacement of major systems and appliances for a period of one year from closing.
Seller's Closing Costs: Owner's title insurance, deed preparation, transfer taxes, outstanding liens/payoffs
Seller Contribution: Seller agrees to credit Buyer up to $5,000.00 toward Buyer's closing costs.
Prorations: Property taxes, HOA dues, utilities, and similar expenses shall be prorated between Buyer and Seller as of the closing date.
Possession: Buyer shall take possession of the Property at the time of closing.
Title Insurance: Seller shall pay for owner's title insurance policy.
Survey: A new survey shall be obtained at Buyer's expense prior to closing.
What Is an FSBO Purchase Contract?
An FSBO (For Sale By Owner) purchase contract is a legally binding agreement used throughout the United States when a property owner sells their home or real estate directly to a buyer without the involvement of real estate agents or brokers. This contract establishes all the terms and conditions of the sale, including the purchase price, earnest money deposit, financing arrangements, contingencies, property disclosures, and closing procedures. It provides the same legal protections as an agent-prepared American purchase agreement while allowing both parties to save on commission fees.
FSBO transactions account for a significant portion of residential real estate sales in the United States. By handling the sale themselves, sellers can save thousands of dollars in agent commissions, which typically range from 5% to 6% of the purchase price. However, a well-drafted purchase contract is essential to protect both parties and ensure the transaction proceeds smoothly through to closing.
This template is designed specifically for U.S. FSBO transactions and includes all the standard provisions found in professionally prepared real estate purchase agreements. It covers the complete lifecycle of a property sale, from the initial offer and earnest money deposit through inspections, contingencies, and closing. Both American buyers and sellers can use this template with confidence, knowing it addresses the key legal and practical aspects of a direct real estate transaction.
What's Covered in This Template
Doxuno's FSBO purchase contract template includes all essential sections needed for a complete residential real estate transaction between buyer and seller. Each section can be customized to match your specific property and deal terms.
Buyer and Seller Details
Property Description
Purchase Price
Earnest Money Deposit
Contingencies
Property Disclosures
Home Warranty
Closing Costs
Prorations
Possession Terms
Title Insurance
Default and Remedies
How to Create an FSBO Purchase Contract
Creating a comprehensive FSBO purchase contract does not require a real estate agent or attorney. Our template guides you through each section step by step, ensuring nothing is overlooked. Follow these steps to build a professional purchase agreement for your property transaction.
- 1
Enter Buyer and Seller Information
Provide the full legal names, mailing addresses, phone numbers, and email addresses of both the buyer and seller. If either party is a trust, LLC, or other entity, include the entity name along with the authorized representative. Accurate identification of both parties is essential for the contract to be legally enforceable and for title transfer purposes.
- 2
Describe the Property
Enter the complete property address including street, city, county, state, and ZIP code. Include the legal description from the deed or tax assessor records if available. Specify the property type, such as single-family residence, condominium, townhouse, or vacant land. Note any fixtures, appliances, or personal property items that will be included in or excluded from the sale.
- 3
Set Purchase Price and Earnest Money
Enter the agreed-upon purchase price for the property. Determine the earnest money deposit amount, which typically ranges from 1% to 3% of the purchase price. Specify who will hold the earnest money, whether a title company, escrow agent, or the seller directly. Select the financing method: cash purchase, conventional mortgage, FHA loan, VA loan, or another financing arrangement.
- 4
Add Contingencies and Disclosures
Select applicable contingencies to protect both parties. Common contingencies include financing approval, home inspection, appraisal at or above purchase price, clear title, and sale of the buyer's existing home. Complete the property disclosure section covering known defects, lead-based paint status for pre-1978 homes, and any environmental concerns. Each contingency includes a deadline for resolution.
- 5
Finalize Closing and Possession Terms
Set the target closing date and specify how closing costs will be allocated between buyer and seller. Determine when the buyer takes possession of the property, whether at closing, through early occupancy, or via a post-closing seller leaseback arrangement. Review all terms carefully, then generate the PDF for both parties to sign. Consider having a real estate attorney review the completed contract before signing.
Legal Considerations for FSBO Real Estate Transactions
Selling or buying property without a real estate agent is perfectly legal in all 50 US states. However, both parties should understand the legal requirements and protections involved in a direct real estate transaction. A properly drafted purchase contract is the foundation of a successful FSBO sale.
This template is provided for informational purposes and does not constitute legal advice. Real estate laws vary by state and locality. For complex transactions or if you are unsure about your specific situation, consult a licensed real estate attorney in your state.
Reviewed by legal professionals. The content on this page and the template clauses have been reviewed by licensed attorneys in the United States to ensure accuracy and legal soundness for standard FSBO residential transactions.
State-Specific Requirements
Real estate transaction requirements vary significantly by state. Some states, including New York, Massachusetts, Georgia, South Carolina, and several others, require an attorney to be present at closing or to review the purchase contract. Even in states without this requirement, certain disclosures are mandatory. For example, federal law requires lead-based paint disclosure for homes built before 1978, and most states have their own property condition disclosure forms that sellers must complete. Research your state's specific requirements before finalizing your contract.
Earnest Money Protection
Earnest money deposits in U.S. FSBO transactions should ideally be held by a neutral third party such as a title company, escrow agent, or real estate attorney rather than directly by the seller. This protects the American buyer's deposit and ensures it is handled according to the contract terms. The contract should clearly specify the conditions under which the earnest money is refundable, such as when a contingency is not satisfied, and the conditions under which the seller may retain it as liquidated damages if the buyer defaults without cause.
Title Insurance and Clear Title
Title insurance is a critical component of any U.S. real estate transaction. A title search conducted by an American title company reveals any liens, encumbrances, easements, or other claims against the property. The seller should be prepared to deliver clear and marketable title at closing. If title defects are discovered, the contract should specify how they will be resolved and what happens if they cannot be cleared before the closing date.
Frequently Asked Questions
Sell Your Property Without Agent Fees
Create a professional FSBO purchase contract in minutes. Our template covers every essential term for a successful property sale, from earnest money to closing and possession.
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