By: Jake Conte
Submitted: 2010-06-06 10:02:40 | Word Count: 566
You should really be willing to take on the task of selling your own home if you are thinking about the task. It may be a bit easier to use a real estate agent but you will experience a very valuable learning experience and save yourself a ton of money from fees that are charged by the professional agents. A few tips can also assist you in the process if you decide to take on the task.
Offers are put in with the owners of the home by potential buyers who have an interest in the home honestly. This may be exciting for you if its in your range but you also want to cover your bases so ask your attorney to help you out if you have hired one because you dont want to miss any important details. You should also look at any of the details that are included with the offer to ensure that you are protected from things like the offer not being accepted unless their home sells for example. Dont be afraid to negotiate with the price though because this time period is when the offer amounts can change in either direction.
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Be prepared for the inspection. Anyone who is buying a home has a legal right to get a professional to inspect the home. This person can let them know of any issues that your home may have with plumbing, foundation, roofing, or any electrical issues as well. An offer may be cancelled if the inspection comes up with a major issue that you arent willing to remedy. You might want to be prepared for this ahead of time by getting your own personal inspection ahead of time. If any repairs need to be made you should do them.
Know what to expect when it comes to getting your home appraised. Any lender is going to require that a professional come into the home to assess the value before they approve funding. This covers their end so they arent giving a loan of $100,000 to someone to buy a home that is only valued at $50,000 for example. The buyer is also going to need to see the title and possibly analyze the land to determine where surrounding properties start or stop. When this step is nearing completion you want to get your utilities turned off and inform your own lender that the home is going to be paid off shortly.
Prepare yourself for the closing day. It is a huge day for both you and the buyer as well. The buyer is going to want to conduct their own final inspection to make sure that the home is still like it should be as outlined in the contract which was decided upon. A closing occurs after a month but before two months after the contract to sell was signed. As long as the closing is successful, funds are given to you the seller within a few business days so the process can be completed.
