South Orange County Real Estate
Ten Legal Mistakes Home Sellers Make
Selling a home can be an exciting or terrifying process depending on the level of advice sellers receive. It is easy to forget in all the excitement of a real estate transaction that the transaction itself is a legal event full of contracts, obligations and possible hazards one must look out for to keep the transaction on time and reach a successful closing. I have been helping buyers and sellers in the 949 since 1999 so I have seen many occasions where experience and good advice make a major difference in whether a transaction goes smoothly or not. Here are a few pitfalls I have seen over the year that you are best to watch out for when selling your home.
1) Accepting the buyer with the highest offer without regard to the other contractual terms.
2) Not properly handling multiple offer situations with multiple buyers.
3) Not properly handling back-up offers. (Treat all backup offers respectfully as you never know if you have to go back to them when the one accepted bails on you.)
4) Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
5) Entering into an agreement before verifying the buyer’s financial ability to close escrow. (Make sure to see bank statements to verify funds before accepting their offer)
6) Not disclosing known material fact affecting the value or desirability of the property. (This one may land you in court on the wrong side of the lawsuit)
7) Not providing the buyer with legally required disclosures.
8) Not obtaining the buyer’s written acknowledgment of disclosures.
9) Not considering whether to require the buyer to remove contingencies.
10) Not excluding items from the sale that the seller wants to keep. (This one can make a transaction fall apart if it’s a family heirloom not excluded)
I know they all seem simple but make sure to keep these 10 things in mind next time you list your Orange County Home and you can save yourself some possible headaches and sleepless nights.
I’ve been a licensed Realtor since 1999 specializing in South Orange County Real Estate. If you have a question about your home value feel free to fill out this form and request a complimentary comparative market analysis for your home to be sent to you via email. If you have general questions about south orange county homes for sale please feel free to contact me I am glad to help.