These are 10 legal mistakes home sellers make.
- Accepting the buyer with the highest offer without regard to the other contractual terms.
- Not properly handling multiple offer situations with multiple buyers.
- Not properly handling back-up offers.
- Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
- Entering into an agreement before verifying the buyer’s financial ability to close.
- Not providing the buyer with property disclosures.
- Not obtaining buyer’s acknowledgement of receiving property disclosures.
- Not disclosing known material fact affecting the value or desirability of the property.
- Not requiring the buyer to remove timely contingencies.
- Not excluding items from the sale that the seller wants to keep.
Your Realtor is a trained negotiator and, as a licensed real estate professional, knows the law, the proper forms and timeline for getting things done.
However, if you want to sell your house on your own, knowing about these 10 things can help.
Eileen Saunders, Realtor with Tommy Morgan Realtors, 2092 Old Taylor Road, Oxford, MS 38655. 662-404-0816 or 662-234-5344 Equal Housing (courtesy of CAR)