How to Sell a Home After the Realtor's Contract Expires
When a listing contract expires with your Realtor and the house remains unsold, you have a few options. You might re-list your property with the same Realtor; you can seek the services of another real estate agent; or you can try selling the property yourself. Selling the property yourself will involve more of your time, and you'll pay some upfront expenses. You will have the responsibility of showing the property and distinguishing between qualified and unqualified buyers. Hosting your own open house poses some security risk, as does showing your home to strangers who call you after seeing your ad.
Instructions
- 1
Re-list the property with your Realtor or another real estate licensee if you want an agent to walk your through the process. Just because the listing expired does not mean your agent did a poor job, especially in a slow market. Nevertheless, if you are unhappy with your Realtor yet want the services of an agent, look for a new agent. Proceed to the next step if you don't intend to use an agent.
2Read the expired listing contract if you decide to sell the home yourself. Often there is a clause in the contract specifying that, for a certain number of days after the expiration date, you are responsible to pay the agent a commission if you sell the home to a buyer your Realtor showed the property to during the listing.
3Market your home by installing a "For Sale" sign and by advertising. Advertise the property on an Internet real estate website for FSBOs. FSBO is the acronym for for sale by owner.
4Contact a local title and escrow company or attorney to gain a better understanding of the real estate sales process in your state. Real estate laws vary by state. In some states, attorneys actively participate in the process. Obtain a list of sellers costs, such as escrow fees and title insurance policies. This will help you understand what you and the buyer need to pay.
5Obtain a blank purchase contract for a buyer who wants to make an offer. A local escrow and title company might be able to provide you a blank contract, or you can have your attorney prepare one.
6Read the purchase contract carefully to understand what it says. A buyer might make an offer using his own contract, or he can use the one you provide. Even if the buyer uses a generic purchase contract and simply fills in the blanks, it is possible to change specific terms of the contract provided both the buyer and seller agree.
7Request an earnest deposit from the buyer when you accept an offer. This shows good faith on the part of the buyer. The amount is negotiable and typically goes toward the purchase price.
8Expect the buyer to inspect the property after you accept a buyers offer. Depending on the purchase contract and state laws, the buyer may have specific rights regarding inspections. Depending on the purchase contact and state law, you may have certain responsibilities regarding the condition of the home.
9Deposit the buyers earnest deposit into escrow. If working with a title and escrow company, the title company will perform a title search on your property to verify the chain of title and your right to convey title. If you are offering a general warranty deed, you normally purchase a title insurance policy for the buyer, from the title company.
10Follow the instructions of the title and escrow company or your attorney. During the escrow process, the buyer inspects the property, finalizes a loan and places funds into escrow. After all parties meet the terms of the contract, title conveys to the new owners and you receive your funds from escrow, minus any property liens paid through escrow such as your home mortgage.
Paper Work Need to Sell your Home Real Estate Contract
www.legalhomeforms.com/paperwork-sell-housePaperwork needed to sell your home When you decide to sell your house, you will be bombarded with a lot of different kinds of legal paperwork. First, ...
Home Selling: How long is the average contract with a realtor,
www.trulia.com/voices/Home_Selling/How_long_is_the_average...How long is the average contract with a realtor, and how can you get out of a contract? Find answers to this and many other questions on Trulia Voices, a community ...
How long do I have to move out after closing the sale of my home ...
www.trulia.com/voices/Home_Selling/how_long_do_i_have_to_move_out...how long do i have to move out after closing the sale of my home? Find answers to this and many other questions on Trulia Voices, a community for you to find and ...
selling a home after realtor's contract expires (agent,
www.city-data.com General Forums Real EstateMar 09, 2010 Back in Oct. 09, we signed on with a realtor for 6 months to sell our house due to relocation. Plans changed and we aren't relocating--asked the
How to Write an Offer and Real Estate Negotiations
homebuying.about.com/od/offersnegotiationsHow to get your offer accepted in a seller's or buyer's market. Contingency secrets and how to use them. Counter offers that let you win. Protect your offer through ...
How to Sell a House eHow
www.ehow.com Personal Finance Real Estate Selling a HomeHow to Sell a House. Like buying a home, selling one is a significant project. Even if you plan to use an agent, it's in your best interest to understand all the ...
How to Back Out of a Contract on a Home for Sale eHow
www.ehow.com Personal Finance Real Estate Buying a HomeHow to Back Out of a Contract on a Home for Sale. Contracts are easier to get into than out of - but it can be done. Here are some strategies for getting out of your ...
Topic Galleries - chicagotribune.com - Chicago Tribune: Chicago ...
www.chicagotribune.com/topicI was an all-too impressionable child that Christmas season, long ago, when I opened the Sears Wish Book and saw page after page of jammies, sweaters and belt buckles ...
BLAW Exam 2 flashcards Quizlet - Simple free learning tools for ...
quizlet.com/11119284/blaw-exam-2-flash-cardsTerms Definitions; An agreement of a seller to supply a buyer with all of the buyer's requirements for certain goods is known as: a requirements contract
Sell a House ForSaleByOwner.com - FSBO - Official For Sale
www.forsalebyowner.com/listing/newGet the how, why and what involved in selling by owner, and find out why thousands of people trust ForSaleByOwner.com to help them sell a home
0 komentar
Posting Komentar