personal nature of someone being in your home allow you to get into too many long discussions with the buyers, because personality conflicts often cloud judgments. Watch what is said in discussing items related to the house and neighborhood. Remember, this could be their new home. You’re no doubt excited about moving, but buyers may start second guessing. A casual statement about the house “really being too small for a growing family,” or “the schools are going through some changes” might be enough innocent chatter to squash their interest.
Underestimating Closing Costs
Many sellers only consider the money they are selling their home for. They don’t appropriately calculate all the costs associated with the sale. Here is a list of common expenses: • Real estate commissions, if you use a Realtor to sell. • Title Insurance costs and other professional fees. • Advertising costs, signs, other fees, if you plan to sell by owner. (A Realtor will pay for these expenses when your home is listed.) • HOA document and transfer fees. • Prorated costs for your share of annual expenses, such as property taxes, homeowner association fees, and water escrow. • Capital gains tax for the sale, if applicable. • Any other fees sometimes paid by the seller (survey fees, inspection repairs, buyer’s closing costs, etc.).
Spending Earnest Money Given to You
Do not believe that earnest money given at the time an offer is accepted is yours until the deal has closed and been recorded. There are too many stories about sellers who spent the deposit
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