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Negotiate to sell.
Most
offers to purchase your home will require some negotiating to come to a win-win
agreement. Your real estate agent is well versed on the intricacies of the
contracts used in your area and will protect your best interest throughout the
bargaining. Your agent also knows what each contract clause means, what you will
net from the sale and what areas are easiest to negotiate. Some negotiable
items, price, financing, closing costs, repairs, appliances and fixtures,
landscaping, painting, move in date. Once both parties have agreed on the terms
of the sale, your agent will prepare a contract.
Prepare to close.
Once
you accept an offer to sell your house, you will need to make a list of all the
things you and your buyer must do before closing. The property may need to be
formally appraised, surveyed, inspected or repaired. Your real estate agent can
spearhead the effort and serve as your advocate when dealing with the buyer's
agent and service providers. Depending on the written contract, you may pay for
all, some or none of these items. If each procedure returns acceptable results
as defined by the contract, then the sale may continue. If there are problems
with the home, the terms set forth in the contract will dictate your next step.
You or the buyer may decide to walk away, open a new round of negotiations or
proceed to closing. Important reminder: A few days before the closing, you will
want to contact the entity that is closing the transaction and make sure the
necessary documents will be ready to sign on the appropriate date. Also, begin
to make arrangements for your upcoming move if you have not done so.
Close the
deal.
"Closing" refers to the meeting where ownership of the property is
legally transferred to the buyer. Your agent will be present during the closing
to guide you through the process and make sure everything goes as planned. By
being present during the closing, he or she can mediate any last-minute issues
that may arise. In some states, an attorney is required and you may wish to have
one present. After the closing, you should make a "to do" list for turning the
property over to the new owners. Here is a checklist to get you started. *
Cancel electricity, gas, lawn care, cable and other routine services. If the new
owner is retaining any of the services, change the name on the account., gather
owner's manuals and warranties for all conveying appliances.