REAL ESTATE 101 - Selling Tips

When selling your home it’s a good idea to be represented by an attorney especially an attorney with expertise in real estate transactions. When a potential buyer puts an offer in writing and you accept it, the signed acceptance becomes the sales contract. Your attorney can help you protect your interests with the sales contract at the closing .

Elements of a sales contract:

• The Sale price
• Items included in the purchase.
• The amount of the down payment
• The date of settlement and possession date
• Contingencies to the sale--inspections (e.g. structural, lead-based paint, radon), required improvements, legal review of the contract by the buyer's or seller's attorney, etc.
• The amount and length of the mortgage loan, interest rate and time limits to secure the loan.
• Determining which closing costs are to be paid by the buyer and which by the seller

This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice. It is always best to take your questions to a licensed real estate professional in your local area. Find respected agents in your area at mostreferred.com. Most Referred Real Estate Agents® and REALTOR® are registered trademarks of their respective companies.