Selling a house without a real estate agent is a daunting prospect. That said, it might save you considerable cash.
However, it also means taking on all the responsibilities an agent would usually handle. If you go the independent route, take precautions to protect yourself from legal trouble.
Know the laws and regulations
Before putting up that “For Sale” sign, understand the laws regarding selling a home. Most times, sellers must inform buyers about worrying conditions, such as the existence of lead paint or a leaky roof. Failure to make disclosures sometimes leads to conflicts after a deal is complete.
Get a home inspection
Even though buyers will likely hire a home inspector, consider performing an inspection before listing. This way, you can identify potential issues and decide whether to fix or disclose them. Being upfront about the building’s condition will show the public that you are an honest dealer.
Use professional contracts
When making the transaction official, be sure the sales agreement you are working with is specifically for real estate. Simply editing legalese built for other purposes can lead to mistakes and misunderstandings. A well-constructed contract helps ensure all parties clearly understand their rights and obligations.
Consider home warranties
A home warranty covers the expense of repairing and replacing many household appliances and systems. Therefore, including one with the sale can be a good idea. Besides being an attractive feature for buyers, it helps avoid thorny litigation should something go wrong after the purchase.
Putting a house on the market without an agent can be a rewarding experience, but it requires legal safeguards. Being a conscientious seller makes the process go smoother and increases the odds of a satisfying payday.
