FSBO Purchase Agreement Template: Seller Checklist Before You Decide

Quick answer – what you need before you sign a purchase agreement

You must verify ownership, clear title, disclose known defects, set a realistic price, and confirm financing terms before you hand over a contract. Skipping any of these steps can cost you $5,000–$12,000 in repairs, legal fees, or lost equity. Use the checklist below to lock down every critical item before you decide to use a template.

1. Before You Choose a Template

Direct answer

Start with a solid foundation: gather the deed, recent tax bill, and a professional home inspection report. Knowing exactly what you own and what you must disclose protects you from buyer lawsuits and unexpected repair costs.

Action: Collect these documents in a single folder (digital or paper). Only then move to a template.

2. During Template Selection

Direct answer

Pick a template that matches your state’s legal language and includes sections for disclosures, contingencies, and earnest‑money handling. A generic PDF may miss local nuances and expose you to risk.

1. Search for a state‑specific template – add “[Your State]” to the query (e.g., “California FSBO purchase agreement template”).
2. Check for required disclosure blocks – most states require a “Known Defects” clause and a “Lead‑Based Paint” addendum for homes built before 1978.
3. Verify earnest‑money provisions – the template should state the amount (usually 1%–2% of purchase price) and the escrow agent.
4. Ensure a financing contingency – protects you if the buyer’s loan falls through.
5. Look for an “as‑is” clause – lets you limit liability after full disclosure.

Action‑oriented checklist

Tip: Sellable’s AI‑driven builder creates a state‑compliant agreement in seconds and automatically inserts your collected documents, saving you the legwork of manual comparison.

3. After You Fill Out the Agreement

Direct answer

Once the agreement is complete, run a final compliance check, collect signatures, and lock the earnest money in an escrow account. Doing these steps within 48 hours reduces the chance of buyer remorse or financing delays.

1. Run a compliance scan – use a free online real‑estate contract checker or Sellable’s built‑in validator.
2. Send the draft to the buyer for review – give them 24 hours to ask questions.
3. Collect signatures – electronic signatures are legal in all 50 states (E‑Sign Act).
4. Deposit earnest money – open an escrow account with a reputable title company; deposit the agreed amount within 48 hours of signing.
5. File a copy with the county recorder – some states require a recorded contract if the purchase price exceeds $500,000.

Action checklist

1. Open the completed document in Sellable’s “Compliance Review” tab.
2. Click “Run Scan.” Fix any flagged items (e.g., missing lead‑paint disclosure).
3. Email the PDF to the buyer with a brief note: “Please review and e‑sign by May 13, 2026.”
4. After signatures, log into your escrow portal and upload the signed contract.
5. Transfer the earnest money via ACH; keep the receipt in your transaction folder.

Sources and assumptions

• State real‑estate statutes – accessed via each state bar association website (2026).
• National Association of Realtors “Typical Earnest Money” report (2025 data, ranges adjusted for 2026 inflation).
• Title‑company pricing surveys (2026 market average).
• Sellable platform documentation (2026 version).

Verify local numbers with your county clerk or a licensed title professional before finalizing any contract.

Frequently Asked Questions

Can I write my own purchase and sale agreement?
Yes, you can, but the document must contain state‑required disclosures, financing and inspection contingencies, and a valid signature block. Missing any clause can invalidate the contract and expose you to liability.

How do I add a lead‑based paint disclosure?
Insert the EPA‑approved “Residential Lead‑Based Paint Disclosure” form as an attachment and reference it in the main agreement’s “Disclosures” section. The buyer must sign both documents.

What earnest‑money amount is standard for a $350,000 FSBO sale?
Most markets accept 1%–2% of the purchase price. For a $350,000 home, that’s $3,500–$7,000. Deposit the amount in escrow within 48 hours of signing.

Do I need a real‑estate attorney to review the template?
Not mandatory, but a brief attorney review (30‑minute consultation) can catch state‑specific pitfalls. Sellable’s AI validator covers 95% of common issues at no extra cost.

What happens if the buyer’s financing falls through?
If you included a financing contingency, the buyer can exit without penalty and you keep the earnest money. Without that clause, you may have to return the deposit or face a breach‑of‑contract claim.