In order
to ensure a smooth and successful transaction, please consider the following advice:
Choose a competent, reputable real estate agent. A real
estate agent can use his or her experience to advise you on market conditions, prices, and repairs or improvements that attract
buyers. Understanding the agent’s role is important in protecting your
interests. Determine if the agent is a member of the Multiple Listing Service
(MLS),
how he or she advertises listings, and what fees you can expect to incur.
Select an experienced, knowledgeable real estate attorney.
Select an attorney even before you sign a listing agreement. An attorney can
explain the terms and legal consequences, and make suggestions that will protect you and your investment.
Have your attorney review the listing agreement before you sign it.
By having your attorney review the listing agreement, you can further safeguard your investment. An attorney should make the changes and recommendations that best suit your circumstances.
Once an offer has been made, evaluate the offer, and discuss the contract
terms with your attorney. Once a contract is signed by all parties, it is legally binding and the time frames
start to run. Whenever possible, have your attorney review your contract before
signing it. If you are unable to have your attorney review your contract before signing it, make certain it contains an attorney
modification and review provision that will allow your attorney to protect your interests after execution. Your attorney can evaluate the offer and terms of the contract while keeping your best interests in mind.
Schedule, plan, and attend the closing. There are many
documents and fees associated with the transfer of real estate, Your attorney
can provide you with a clear understanding of all the necessary documents and anticipate any charges so that you do not experience
any surprises at the closing.
Much
of the sage advice above comes from Peter Birnbaum, President and CEO of Attorneys' Title Guaranty Fund, Inc. (ATG),
a bar-related title insurance company providing real estate and title insurance services to consumers through lawyers for
over 40 years. Educating yourself about the home selling process is important
to ensuring your peace of mind.
Don't go into your transaction without representation.