How Long is the List of Things You Don’t Know About Selling Your Home?

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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.

Categories: Sellers
Tags: selling, mistakes, disclosure, negotiation, contracts


Comments

Kate McQueen on 01/07/2014

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.


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