For Sale by Owner

[Jeff Weissman]

I'm considering purchasing a FSBO condo. Have never done a FSBO deal & wondering what I should be on the lookout for in the Purchase & Sale Agreement? Should I have the agreement checked over by someone? If so, should that person be a R.E. agent, a R.E. lawyer, a CPA? If an agent, what would the typical fee be, since the agent would be acting as a consultant rather than buyer's agent? Also, in this case, seller is offering significant subsidies for a period of 2 years which would cover all HOA fees, property mgmt fees, plus a rent subsidy. How can I tactfully check out the seller to address the risk I take of him not (or not being able to) hold up his end of the bargain for 2 years? What if he gets run over by a train or goes bankrupt?
Any help here would be much appreciated!