association fees, and utilities • Any other fees sometimes paid by the seller (appraisals, inspections, buyer’s closing costs, etc.) SPENDING EARNEST MONEY GIVEN TO YOU Don’t believe for a second that earnest money given at the time an o ff er 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 fin ancing contingency or failure of inspection or repair issues, the buyers had t o fig ht or sue for a refund. Another advantage to using a real estate agent is that the agent is a neutral party who can keep the deposit safe until closing day, and make sure your contract dictates what should happen to the funds if the transaction falls through. FORGETTING TO CANCEL/SWITCH UTILITIES AND INSURANCE Many sellers overlook notifying utilities that they’re moving or applying for utility service at their new home. Call your utility and insurance companies as soon as a contract is signed. Find out how many days of not ifi cation they need to switch or cancel service, then let them know when you hav e a fir m closing date. LETTING EMOTIONS TAKE OVER Keep calm during the entire home-selling process, especially during the inspection. Be realistic and understand that there will be issues. It’s not unusual to have to take care of some repairs. Don’t let the buyer’s demand to complete a small repair kill the deal. On the other hand, don’t commit to fixin g anything in advance 31
Powered by FlippingBook