and/or repair issues, the buyers had to fight or sue for a refund. Another advantage to using a real estate agent is that the real estate broker or attorney is a neutral party who will hold the earnest money deposit for you until closing day. Make sure your contract states what happens to the funds if the transaction does not close. This language is included on state forms used and paid for by Realtors.
Forgetting to Cancel/Switch Utilities and Insurance
Many sellers overlook notifying utilities that they are moving or applying for utility service at their new home. Call the utilities and your insurance company as soon as a contract is signed. Find out how many days’ lead time they need to switch or cancel, then get back with them when you have a firm closing date. Well respected Realtors typically can provide concierge services that will handle this for you so there are fewer things on your plate.
Letting Emotions Take Over
Keep calm throughout the selling process, especially during and after a house inspection. Be practical and presume that issues will arise. It’s not uncommon to have to pay for some repairs. Don’t let the buyer’s demand to complete a minor or cosmetic repair kill the deal. On the other hand, don’t commit to fixing anything in advance (e.g., “Sure, we can put on a new roof ”), unless you are sure you can manage it emotionally and financially. Determine the kind of repairs you can practically take care of, then commit to that decision. Some repairs can become unmanageable and could cost you big money. You may want to discuss these options with your Realtor but ultimately, the decision is yours.
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