AFY Steven Thomas - Seller Book

lessen the seller’s investment of time and bother, while inciting serious buyers to immediately write an offer. Handling real estate transaction paperwork is also a big boon to the seller. One-page deposit receipts were prevalent 40 years ago. Today’s purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local customs. Most real estate files average thicknesses from one to three inches of paper. A mistake or omission could land you in court or cost you down the road. Speaking of down the road, even a smooth closing without complications can come back to haunt you. For example, taxing authorities that collect property tax assessments, document stamps, or transfer tax can fall months behind and mix up invoices, resulting in a snag. These may be hard to handle without knowledge of the systems. A good real estate agent will deal with these issues. Questions often arise that were overlooked in the excitement of closing. A proficient agent will be there to assist. SERIOUS CONSIDERATIONS The decision to sell your home requires seeing the total picture, from start to finish. You should now understand what is involved in selling your home quickly and profitably. However, let us summarize a bit about what you should consider to avoid trouble in the process. To eliminate any misunderstandings by you, your agent, or an interested buyer, discuss this list with your trusted agent. • Selling your home before you are qualified to buy another — financial situations change along with loan requirements. • Guessing your mortgage payoff — know if penalties exist. • Underestimation of closing costs — calculate fees, taxes, and commissions that need to be paid. • Spending of earnest money — if the sale falls through, what happens to the money? • Befriending potential buyers — discretion is imperative when buyers want to be your friend.

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