How Long is the List of Things You Don’t Know About Selling Your Home?
11/25/2013 | Author: Marty Kramer
Selling a house on your own is like explaining the solar system to a child … you think you can handle it, but as soon as a difficult question comes your way, you realize how much you don’t know.
Here are examples of things that could arise when trying to sell your home. Do you know …
- Whether you have to disclose that your roof leaked if you’ve fixed it?
- How a termination option works?
- How to determine the highest price for your home without overpricing it?
- If there’s a time limit for responding to a buyer’s offer?
- Whether you must respond to buyers’ offers in a particular order?
- How to know if a prospective buyer can actually qualify for a loan to purchase your home?
- Who gets to choose the title company?
- How to handle the sale if the buyer is making it contingent on the sale of her existing home?
- Whether the refrigerator, drapes, wall-mounted TV, and chandelier are considered part of the sale?
- What to do if the buyer proposes an amendment to the contract you already agreed upon?
- Whether you can back out of the contract if a better offer comes along?
- When you have to get a new survey and who pays it?
- What to do if the survey shows that your neighbor’s fence is on your property?
- What happens if an inspection turns up termite damage?
The list goes on and on.
Not an exhaustive list but a very good start! There are many factors involved in selling a home, not the least of which is negotiating a sales price once a buyer has decided to make an offer.
The legal issues are many, so having a qualified Realtor to guide you through the process is worth the investment.