Of course I would always suggest using a REALTORŪ to help
you buy or sell. But if you would like to have a go at it on your own here are some things that might help.
6 Forms You’ll Need to Sell Your Home
1.
Property Disclosure Form: This form requires you to reveal all known defects to your property. Check with your state government
to see if there is a special form required in your state.
2. Purchasers Access to Premises Agreement: This agreement
sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.
3. Sales Contract: The agreement between you and the seller on terms and conditions of sale. Again, check with your
state real estate department to see if there is a required form.
4. Sales Contract Contingency Clauses: In addition
to the contract, you may need to add one or more attachments to the contract to address special contingencies—such as
the buyer’s need to sell a home before purchasing yours.
5. Pre- and Post-Occupancy Agreements: Unless you’re
planning on moving out and the buyer moving in on the day of closing, you’ll need an agreement on the terms and costs
of occupancy once the sale closes.
6. Lead-Based Paint Disclosure Pamphlet: If your home was built before 1978, you
must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet
Is Your Buyer Qualified?
Unless
the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If
possible, try to determine a buyer’s financial status before signing the contract. Ask:
1. If the buyer has been
prequalified or preapproved (better) for a mortgage. Such buyers will be in a much better position to obtain a mortgage promptly.
2. Does the buyer have enough money to make a downpayment and cover closing costs? Ideally, a buyer should have 20
percent of the home’s price as a downpayment and between 2 and 7 percent of the price to cover closing costs.
3.
Is the buyer’s income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total
income to cover PITI (principal, interest, taxes, and insurance).
4. Does your buyer have good credit? Ask if he or
she has reviewed and corrected a credit report.
5. Does the buyer have too much debt? If a buyer owes a great deal
on car payments, credit cards, etc., he or she may not qualify for a mortgage.
I will be glad to answer questions, no strings attached!
Give me a call.
