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FSBO.com launches PACT beta to digitize purchase offers and negotiations
PACT is designed to replace the paper-heavy step of drafting and revising purchase terms by generating a single memorandum of understanding and retaining the digital offer history.
HousingWire reports that FSBO.com has introduced a beta version of its Purchase Agreement Creator Technology, PACT, a digital platform that lets buyers make offers directly from home listings.
The tool supports negotiations in one interface, including counteroffers, term changes, and best-and-final rounds, while generating a single memorandum of understanding that reflects the final agreed-upon terms.
FSBO.com says PACT keeps a digital record of offer history and is built for both represented and unrepresented buyers and sellers, including when an agent manages negotiations on behalf of a client.
In a statement, FSBO.com CEO Brad Rice said the current process is unnecessarily complicated and often involves emailed and re-signed documents that can obscure what was ultimately agreed, adding that the underlying technology was originally developed at Homepie and expanded for FSBO.com.