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Drawing up a contract with FSBO

Here is my situation:

I found a house that I really like in a decent part of town. The current price the owner wants is $95k. I know that he bought the house for $65k in 6/13. The owner has taken out a butlers pantry, all of the kitchen, and some carpeting in a breakfast room. Nothing has been updated since maybe the 60's. The house was built in 1920 and has a ton of character. The house is located on a triple lot that isn't platted as 3 but equals 3 lots for the area. 

I want to put in an offer but it is going to be no where near the $95k. I am thinking around $75k for starting offer. The house needs major repairs - between $45k and $50k to make it updated and nicer. How do I draw up a contract for buying the house from a FSBO with not agent. I know that the bank will want to appraise the property. The money will be coming from equity off our main house to buy it for our son, to fix it up and then resell it to him in 6 month once he has more money saved up for a conventional loan rather than him getting an FHA loan. Where can I find some sort of template to go by so that I can buy the house "as-is" without any more improvements being done. 

What I have found so far on the internet is examples of people buying homes that negotiates the seller doing certain fixes before the house is sold. We want the house exactly as is and plan to perform the fixes ourselves before selling it to our son for what we bought it for plus cost of materials. Any advice on the situation would be helpful. I know that I am missing quite a bit of info but anything would be helpful in drawing up a contract with a FSBO in as-is condition. Thanks everyone!
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December 04 2013 - US
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Answers (4)

Find a buyer agent who can advise you how to proceed with your offer and conduct a comparative market analysis for you.  Good luck!
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December 06 2013
I would most definitely reach out to a real estate attorney to assist you with this.   
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December 04 2013
Contact a realtor or a real estate attorney
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December 04 2013
Go find a lawyer to do it or you just might do it wrong which would leave you unprotected.
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December 04 2013
 
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