Tennessee FSBO Legal Forms & Disclosures
Everything you need to handle the paperwork when selling your Tennessee home by owner. Download guides, understand requirements, and stay compliant with Tennessee real estate law.
Required Tennessee Disclosures
Tennessee law requires sellers to provide these disclosures to buyers. Failure to comply can result in legal liability.
Residential Property Condition Disclosure
Tennessee Code Ann. § 66-5-201 requires sellers to disclose all known material defects about the property's condition, including structural issues, water damage, pest problems, roof condition, HVAC, plumbing, and electrical systems.
What You Must Disclose:
- Structural defects (foundation, walls, roof)
- Water intrusion or drainage problems
- Pest or termite damage history
- HVAC, plumbing, and electrical condition
- Environmental hazards (asbestos, radon, mold)
- Property boundary disputes or easements
- HOA obligations and fees
- Any pending legal actions affecting the property
Lead-Based Paint Disclosure
Federal law (42 U.S.C. § 4852d) requires sellers of homes built before 1978 to disclose any known lead-based paint or lead-based paint hazards. Buyers must receive an EPA-approved pamphlet and be given 10 days to conduct an inspection.
Requirements:
- Disclose known lead-based paint and hazards
- Provide EPA pamphlet "Protect Your Family From Lead in Your Home"
- Include lead disclosure language in the contract
- Allow buyer 10 days for lead inspection
- Retain signed acknowledgment for 3 years
Transaction Documents
These documents form the backbone of your FSBO transaction. We strongly recommend having a Tennessee real estate attorney review all contracts before signing.
Purchase & Sale Agreement
The primary contract between buyer and seller that outlines all terms of the sale including purchase price, earnest money, contingencies, closing date, and what's included in the sale. This is the most important document in your transaction.
Must Include:
- Full legal names of buyer and seller
- Complete property description and address
- Purchase price and financing terms
- Earnest money amount and escrow details
- Inspection and financing contingencies
- Closing date and possession date
- Personal property included/excluded
- Signatures of all parties
Warranty Deed
The legal document that transfers ownership of the property from seller to buyer. In Tennessee, a General Warranty Deed provides the strongest protection for the buyer, guaranteeing clear title free of encumbrances.
Closing Statement (ALTA/HUD-1)
A detailed financial summary of all costs, credits, and adjustments for both buyer and seller at closing. This includes the sale price, loan payoffs, prorated taxes, title insurance, recording fees, and any other closing costs.
Home Inspection Contingency
An addendum to the purchase agreement that gives the buyer the right to have the property professionally inspected within a specified timeframe. If significant issues are found, the buyer can negotiate repairs, request a price reduction, or withdraw from the contract.
HOA Disclosure (If Applicable)
If your property is part of a Homeowners Association, you must disclose HOA fees, rules, regulations, financial statements, and any pending special assessments. Tennessee law requires this information be provided to the buyer.
Bill of Sale
Documents the transfer of any personal property included in the sale, such as appliances, window treatments, or other items not permanently attached to the home. This protects both parties by clearly defining what's included.
Your FSBO Paperwork Timeline
Here's when each document comes into play during your Tennessee FSBO sale.
Before Listing
Prepare your Property Condition Disclosure form. Gather HOA documents if applicable. Order a pre-listing home inspection (optional but recommended).
When Showing the Home
Have your Property Condition Disclosure available for potential buyers. Prepare Lead-Based Paint Disclosure if your home was built before 1978.
Receiving an Offer
Review the Purchase & Sale Agreement carefully. Negotiate terms and sign counteroffers. Ensure all contingencies are clearly defined.
Under Contract
Provide all disclosures within 10 days. Cooperate with buyer's home inspection. Address any repair requests or negotiate credits.
At Closing
Review the Closing Statement (ALTA/HUD-1). Sign the Warranty Deed. Complete the Bill of Sale for included personal property. Hand over keys!
Need Help With Your FSBO Sale?
While we provide these resources to help you understand the process, we always recommend working with a licensed Tennessee real estate attorney for your specific transaction.
Disclaimer: The information on this page is provided for general informational purposes only and does not constitute legal advice. FSBOTN.com is not a law firm and is not a substitute for an attorney or law firm. Use of this site and the forms referenced herein does not create an attorney-client relationship. Laws and regulations may change, and the applicability of the information on this page may vary based on individual circumstances. We recommend that you consult with a qualified Tennessee real estate attorney regarding your specific situation. View our complete Legal Disclaimer.