Harborside Blog

Archive for the 'Legal - Contracts and Disclosures' Category

5 Ways to Avoid Trouble When Selling Your Home

Here are a few suggestions to avoid trouble when preparing to put your home on the market:

1. Full Disclosure

Tell buyers what you know about your home.  Do it in writing by completing a seller’s statement of property condition.  While it is not required in Massachusetts, I think it’s a good idea.  For example, if you know your roof leaks in heavy rain storms disclose it up front to the buyer.  It will help you avoid trouble later and may reduce issues raised after the home inspection (or at least make it easier to negotiate a resolution).

2.  Hire An Attorney

Hire an attorney to represent you before you receive an offer on your home.  Most sellers and buyers call an attorney after an offer has been accepted on a home.  While this is better than not hiring an attorney at all, it makes more sense to involve the attorney during the negotiation of the contract to purchase.  Since the terms of the contract to purchase will be incorporated into the purchase and sale agreement, having an attorney review the terms of the offer is a good idea.

3. Hire A Real Estate Attorney

When you hire an attorney to represent you, hire a REAL ESTATE attorney.  Find an attorney that focuses a majority of his or her practice on residential real estate.  Don’t hire your cousin’s friend who is a divorce attorney whose only experience negotiating a P&S was when he purchased his own home 5 years ago.  Experience matters.

4. Make Sure You Want To Sell

When you accept an offer on your home, (generally) there is no turning back.  The buyer is in the driver’s seat.  The buyer can decide to back out of the transaction; you cannot.  If you get seller’s remorse after the contract is signed and decide not to sell (and the buyer still wants to buy your home), get ready for a battle.  Before you accept an offer, make sure you want to sell.  It sounds silly but you need to commit to sell before you sign on the dotted line.

5.   Pull Permits For Renovations

Make sure your contractor pulls a permit when you have work done on your home.  If you are having work done (from electrical work to a new roof), confirm with the contractor that he will visit the town/city building department and apply for the necessary permits.  Also, before you write the final check to pay the contractor, make sure that final inspections were conducted and the permit was signed by all appropriate inspectors.