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 will 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’re selling their home for. They don’t appropriately calculate all the costs associated with the sale and overlook the following items:
• Real estate commission • Advertising costs
• Attorney or closing agent fees • Excise/gains tax (if applicable) • Prorated costs for things like property taxes, homeowner association fees, and utilities • Any other fees sometimes paid by the seller (appraisals, inspections, buyer’s closing costs, etc.)
SPENDING EARNES G EARNEST MONEY GIVEN T Y GIVEN TO YOU
Don’t believe for a second that earnest money given at the time an offer is accepted is yours until the deal has closed and been recorded. Too many stories tell about sellers who spent the deposit money prior to closing. When the transactions didn’t occur for reasons such as financing contingency or failure of inspection or repair issues, the buyers had to fight or sue for a refund. 31
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