Getting ready to list your home? According to the California Association of Realtors® here are the 10 biggest legal mistakes home sellers can make when selling. Educate yourself and be aware of these potential mistakes before they occur. An experienced real estate agent can assist you to ensure that you have a smooth transaction.
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.
4. Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
5. Entering into a an agreement before verifying the buyer’s financial ability to close escrow.
6. Not disclosing known material facts affecting the value or desirability of the property.
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.
Information provided by the California Association of Realtors®
About this column: Carol Wolfe is a real estate broker with Rodeo Realty in Encino. She also writes Encino Patch's weekly real estate column about the housing market, home sales, trends, news and advice. You may reach her at (818) 285-3688 or Carol@CarolWolfe.com