FSBO Purchase Agreement Sample Checklist: Everything You Need in 2026

Hook: You could save $15,000–$20,000 on commission by using a solid FSBO purchase agreement instead of hiring an agent. The right checklist turns a daunting contract into a clear, enforceable roadmap.

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Quick‑Start Answer (Before You Sign Anything)

A complete FSBO purchase agreement in 2026 contains 15 mandatory clauses, three optional add‑ons, and up‑to‑date disclosures for state tax, lead‑paint, and COVID‑19 safety. Fill each section, attach the required exhibits, and have both parties sign in the presence of a notary. Do this before you list the home, and you’ll protect your equity and avoid costly disputes.

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Phase 1 – Before You Draft the Agreement

1. Verify Ownership and Encumbrances

• Pull the latest deed from the county clerk.
• Request a title commitment; it lists liens, easements, and HOA restrictions.

2. Gather Financial Documents

• Obtain a payoff statement from your mortgage servicer (request via secure portal).
• Compile property tax bills for the past two years; buyer may prorate at closing.

3. Decide on Contingencies

• Inspection contingency – give the buyer 10 business days to schedule an inspection after signing.
• Appraisal contingency – essential if the buyer is financing; set a $5,000 appraisal gap allowance limit.

4. Choose Disclosure Forms

• State‑required lead‑paint, radon, and flood‑zone disclosures (download from the state real‑estate commission).
• Add a COVID‑19 safety addendum if the buyer wants proof of recent cleaning or ventilation upgrades.

5. Set Up a Notary Schedule

• In 2026 most states accept electronic notarization, but confirm the buyer’s lender accepts e‑notary signatures.

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Phase 2 – During Drafting

Quick‑Start Answer: Fill each clause exactly as shown in the sample, replace bracketed placeholders with your data, and attach the exhibits listed in the “Required Attachments” table. Use plain language; avoid legalese that could be challenged later.

Mandatory Clauses (15)

1. Parties & Property Description – Full legal names, mailing addresses, and the parcel’s APN.
2. Purchase Price & Earnest Money – State the exact amount ($[price]), deposit ($[earnest]), and escrow holder.
3. Financing Terms – If buyer uses a loan, note lender, loan type, and deadline for loan approval.
4. Earnest Money Release – Define conditions for refund (inspection failure, appraisal shortfall).
5. Closing Date & Possession – Set a firm date (e.g., “Closing on June 30, 2026”) and possession timing.
6. Title & Closing Costs – Specify who pays title insurance, recording fees, and transfer taxes.
7. Prorations – Property taxes, HOA dues, and utilities are prorated to the closing date.
8. Seller’s Disclosures – Incorporate all state-mandated PDFs and a signed acknowledgment.
9. Inspection Contingency – Buyer may terminate within 10 days; seller must permit access.
10. Appraisal Contingency – If appraisal < price, buyer may renegotiate or walk away.
11. Repair Agreement – List items the seller will fix or credit the buyer (attach “Repair Estimate”).
12. Home Warranty Option – Optional 1‑year warranty cost ($350–$500) and who pays.
13. Risk of Loss – If fire or flood occurs before closing, determine who bears loss.
14. Default Remedies – Define liquidated damages (typically 2% of purchase price).
15. Entire Agreement & Amendments – State that only a written, signed amendment is valid.

Optional Add‑Ons (3)

Required Attachments Table

Drafting Tips

• Use Sellable pricing as a reference for cost‑effective e‑sign and e‑notary services.
• Keep the document under 12 pages; lenders reject contracts longer than 15 pages.
• Insert a digital signature line for each party and the notary to avoid printing.

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Phase 3 – After Signing

Quick‑Start Answer: Once both parties sign, route the contract to escrow, verify funding, and schedule the final walk‑through. Close within 30–45 days to stay within most loan lock periods.

1. Open Escrow

• Choose an escrow company that supports electronic document upload (most do in 2026).
• Upload the signed agreement, title commitment, and all disclosures.

2. Confirm Funding

• Ask the buyer’s lender for a loan commitment letter; verify the amount matches the purchase price.
• Ensure the earnest money ($[earnest]) clears and is deposited into the escrow account.

3. Schedule Inspections & Appraisal

• Book a home inspection within the 10‑day window.
• Order an appraisal concurrently; most lenders require it within 15 days of loan commitment.

4. Review Inspection Report

• If the report reveals $5,000–$12,000 in repairs, decide whether to:
  a) Offer a credit at closing,
  b) Perform repairs before closing, or
  c) Walk away (contingency protects you).

5. Final Walk‑Through

• Conduct it 24 hours before closing. Verify that agreed repairs are complete and that the property is in the same condition as at signing.

6. Closing Day Checklist

7. Post‑Closing Follow‑Up

• Keep copies of the fully executed agreement and all attachments for at least 7 years (IRS recommendation).
• Notify the HOA of the ownership change; provide them a copy of the recorded deed.

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Sources and Assumptions

• County Recorder Offices – for deed and survey data.
• Federal Housing Finance Agency (FHFA) – for typical appraisal gap ranges.
• Environmental Protection Agency (EPA) – for lead‑paint disclosure standards.
• National Association of Realtors (NAR) 2025‑2026 survey – for average commission savings.
• Local real‑estate commissions – for state‑specific disclosure forms.

All figures reflect 2026 national averages; verify local costs and legal requirements before finalizing your agreement.

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Frequently Asked Questions

1. What is the minimum information a FSBO purchase agreement must contain in 2026?
It must include parties’ names, legal property description, purchase price, earnest money details, closing date, financing terms (if any), all required disclosures, and signatures notarized or electronically notarized.

2. Can I use a generic template without a lawyer?
Yes, if you follow the checklist, attach the required exhibits, and have the contract reviewed by a licensed real‑estate attorney for your state. Many sellers succeed using a solid template plus a brief attorney glance.

3. How much earnest money should I request from the buyer?
Typical amounts range from 1% to 3% of the purchase price. For a $350,000 home, $3,500–$10,500 is common and provides enough security without deterring buyers.

4. What happens if the inspection reveals $8,000 in needed repairs?
You can (a) provide a credit at closing, (b) complete the repairs before closing, or (c) let the buyer terminate under the inspection contingency. The agreement should specify the chosen path.

5. Do I need a notary for electronic signatures?
Most states accept remote online notarization in 2026, but confirm the buyer’s lender accepts e‑notary. If not, schedule an in‑person notary before escrow opens.