2007-03-11 08:06:47 · 6 answers · asked by monir s 1 in Business & Finance ➔ Renting & Real Estate
Does your buyer have the financing?
2007-03-11 08:15:09 · answer #1 · answered by spiritwalker 6 · 0⤊ 0⤋
The pressure of selling your home yourself? Well do you know the buyer? Where did you or do you plan to get your contract from? My suggestion ( I am a real estate agent) would be to contact a local title company, tell them you want to sell your house to so and so, ask them if they have a standard contract you can use, let them know you intend on using them as the closing agent (you must close this transaction through a title company or else potential huge problems in the near and distant future) complete the contract and carry it down to the title company they will start working on your closing. I would do some reading on real estate sale procedures, or maybe think about employing a realtor to take care of all the steps of closing your house for a reduced fee like 2% because you already have a buyer. let me know how it all turns out for you
2007-03-11 17:25:46 · answer #2 · answered by Wendy B 2 · 1⤊ 0⤋
who is giving you pressure? if real estate agents, then just let them know you have a satisfactory buyer. but if your buyer did not even make you an offer, with earnest money to be held by your real estate lawyer, then you don't have a buyer. a buyer makes you a written offer. you take it or you counter offer it. if you counter it, it nullifies and voids his original offer. if he accepts all of your changes by initialing where you initialed them and you have both signed it and dated it, you have a CONTRACT.
but here: do you honestly know the market value of your house? if you do, and your buyer is qualified by a lender to go forward with the deal, and the price and terms satisfy you, by all means, sell to him.
you should know that today is the biggest, probably longest, buyer's market that has happened in the past 50 years! so, if you can sell to him and he can buy from you, you have what we call "an arm's length transaction," so do it.
else, please hire an experienced Realtor (r), one that does not sell ten million a year (because she will never have time to listen to you and to truly represent YOU, the client !!! above her own needs--the real estate commish), that will fully explain what AGENCY means to you, and to her.
agency is probably the least known term of buyers and sellers today. but it is the most important one. first, look it up in the dictionary if you are selling to this person. then, if not, having read what that word means will put you into a better position to question your Realtor (r) about how it benefits you, as a seller, or if she represents both you and the buyer and what fiduciary responsibility she has to YOU.
2007-03-11 15:22:10 · answer #3 · answered by Louiegirl_Chicago 5 · 0⤊ 0⤋
You should hire an agent to walk you thorough the process. It is very difficult without some help. You do not have to pay the percentage fee, just agree to a lump sum, maybe a couple of hundred. They can draw up the paper work and tell you the steps.
2007-03-11 15:15:46 · answer #4 · answered by lestermount 7 · 0⤊ 0⤋
say what?
as a seller you are required to provide the state mandated disclosures. It might be in your best interest to hire a title company to complete the transaction or hire a realtor on an ala carte basis, only contracting them for helping you with the paperwork and paying them a flat fee.
2007-03-11 16:09:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
your banker can help with paper work--real estate lawyer--also most realtors will do your paper work for a reasonable fee--but u need to ask them <<<<<<<<<<<(not for public knowledge)
2007-03-11 15:15:38 · answer #6 · answered by imneiflim 3 · 0⤊ 0⤋