Selling a Home

Helpful Information for Homeowners Looking to Sell Their Homes

Selling a home is a complex process that can present various difficulties if it is not properly handled. Professional help can make all the difference, as can obtaining a thorough understanding of the process, your legal rights and what to expect in completing a residential real estate transaction of this kind. Because every case is different, we have included a brief overview of what may occur during the sale of a home. This may vary depending on a number of factors.

The process begins when you decide to sell your home. You may have built equity and wish to take advantage of this, may be struggling with your mortgage payments and want to get rid of the property or may wish to move to another area for personal, job-related or financial reasons. Whatever the reason for the sale, you will then need to decide whether you want to hire a real estate broker. You may also wish to consider whether to involve an attorney.

After you decide whether to seek professional help, you will need to market your home. A broker may play a key role in listing the property, running an open house and managing offers and negotiations with prospective buyers. Once you find a buyer and have negotiated a reasonable price, you will then need to sign what is called a "purchase agreement" or "sales contract." This will include the price, will name the buyer and seller and other terms. It may also require a down payment from the buyer.

At this point, the buyer will probably want to schedule a professional inspection of the property. You may or may not need to make repairs to the property based on the inspection or may modify the purchase agreement. The buyer will also need to get financing.

The final step in the process is the closing. The buyer will probably want to perform a final walk-through of the property before closing, just to make sure everything is in order and nothing was missed. At closing, you and the buyer will sign numerous legal documents that will have the final result of transferring the property to the buyer. Broker and attorney fees may be addressed at this time, with payment transferred directly to these professionals for their services.

Selling your home? A real estate lawyer can help you.

Are you considering your options in selling your home? Have you already begun the process of selling your property? In either scenario, professional help can make all the difference. While you may have already hired or are planning on hiring a real estate broker, you may also find it helpful to involve an attorney. Selling a home is a legal matter and having a legal professional to protect your rights and address your concerns can help you avoid unnecessary delays and financial losses. There are a number of issues a real estate lawyer may be able to address for you, including:

  • The best ways to protect equity in your home.
  • What to do in the face of foreclosure, including alternatives such as a short sale.
  • How to mitigate taxes associated with the sale, particularly if you have a good deal of equity in the property.
  • Addressing defects and repairs to the property based on the buyer's inspection.

There are numerous contracts and agreements involved in the sale of a home, as well as the transfer of the title to another person. Having an attorney to review and modify these documents can help you feel confident that your best interests are protected.

Find a real estate attorney in your area who can help in selling your home.