Is this something that I should rely on my agent to write up in the contract, or should I potentially seek legal advise?

you must check your local laws to know for sure the timeline is legal .

. $1500, and that's including a small deposit to the seller (legal consideration). 

hi Melida. i currently own a 2 family in the bronx and also bought i using an FHA loan. i purchased a home that was being sold FSBO. he agreed to drop the price 15k off the bat since he was saving the agents comission. i just used an attorney provided by my employers pre paid legal benefit. no agents were used. i am biased but i think the Fordham/Jerome area is a great area to invest.

Is this legal?

as was noted above, percentage is not a good indicator of price.There is a kind of a floor - where it's not going to get any lower - for example, "legal" costs could be a flat $400, or $600. 

Whenever you find someone you decide to sign a contract with and you tell them you want to buy the property cash BUT the contract says have expired and couldn’t find a buyer. How would you proceed in this situation? W...

This type of service is best when the investments will be singular and static in nature, and when there is not a high need for legal guidance.Self Directed Plan Facilitators are a different type of service that establish plans providing checkbook control. 

I would just move forward with some caution as this property its definitely going to have some legal blow back.

Is legal for an owner to live in the attic or basement?