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vpotluri: "Do I need an attorney to draw up this offer? Or is there a legal text format somewhere I can copy?"

I am not unbiased, but I I believe that you should let an attorney review the offer. I suspect that in most states there is either a commonly used form or a promulgated form that can be used (whoever prepared the form, however, made certain inherent decisions that may or may not suit your deal).

In Texas, for example, there is a form jointly promulgated by the TREC (Texas Real Estate Commission, which licenses agents and brokers) and the State Bar of Texas (which licenses attorneys), and real estate licensees may use the promulgated form and complete the fill in the blanks without concern about claims of unauthorized practice of law, but the real estate licensees better not start fiddling with the form or adding unauthorized addenda. I am familiar with the form, but thee are a handful or provisons that I dislike and usually recommend that my clients change before submitting an offer.

Hope this helps.

Regards, JAFO
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