Today’s purchase agreements run 10-15 pages or more . Th at does not include the federal- and state-mandated disclosures nor disclosures dictated by local customs. Most real estat e fi les 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 . Th ese may be hard to handle without knowledge of the systems. A good real estate agent will deal with these issues. Questions o ft en arise that were overlooked in the excitement of closing. A pro fi cient agent will be there to assist. POINTS TO REMEMBER: Th e decision to sell your home requires seeing the total picture, from start t o fin ish. You should now understand what is involved in selling your home quickly and pro fi tably. 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 qua lifi ed to buy another — fin ancial situations change along with loan requirements, be prepared. • Guessing your mortgage payo ff — k now if penalties exist. • Underestimation of closing costs — calculate fees, taxes, and commissions that need to be paid. • Earnest money deposits— 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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