It’s appropriate, even important, to be friendly, but don’t let the 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 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 are selling their home for. They don’t appropriately calculate all the costs associated with the sale. Below are some items to keep in mind: • Real estate commission. • Advertising costs, signs, other fees, if you plan to sell by owner. • Attorney, closing agent, and other professional fees. • Capital Gains tax for the sale, if applicable. • Prorated costs for your share of annual expenses, such as property taxes, homeowner 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
We keep the earnest money in a non-interest-bearing account. Hopefully, people who sell on their own will keep this in mind. 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 money prior to closing. When the transactions did not occur, for 60
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