Recent advancements in radar technology have led to increased interest in radar networks, which promise enhanced angular resolution and robust measurements. However, designing radar transceivers for such networks requires careful consideration of hardware nonidealities. This paper considers distortion terms due to circuit nonlinearities and the impact of uncorrelated phase noise (PN). We present a comprehensive analysis of the link budget for Frequency Modulated Continuous Wave (FMCW) transceivers in radar networks, taking nonlinearities into account. We also show the impact of uncorrelated PN on the multistatic responses.