 Posted 2/3/2007 7:55:51 AM
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Generally buyers will give the seller 5 working days to accept, or reject an offer. It's really up to the buyer to suggest a time for either rejection or acceptance so it could be 24hrs for that matter.
You as the seller can call them and give them a verbal counter offer and simply rewrite the contract if you come to agreement on the new terms.
Real estate is your personal property, agents have to do things according to strict guidelines, you as the seller of your own property can write a contract on a napkin with a crayon and it would stand up in court!
The key to protecting yourself when selling by owner is to add at the very bottom of your FSBO contract just above where all parties sign is to add this line.
This entire agreement is contingent upon the review and approval of our real estate attorney!
In this way you ultimately protect yourself from any foolish mistakes of the novice and only pay a flat fee of around $750.00 to transact the entire thing safely.
Agents market the property, that is what they are best used for, Attorneys are your best protection when it comes to closing the transaction and contract review beforehand.
Helping people sell by FSBO at www.magicbullets.com (for free)
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