Updated on November 29, 2017
1. Prepare Yourself Mentally that the Property May Take Longer to Sell Then You Anticipate
Savvy sellers know that getting a buyer to stick (close escrow) is not as easy as it would seem. Many real estate sales fail to close escrow because the buyer fails to complete the purchase for reasons beyond the control of the seller. This can be mentally exhausting – so prepare yourself for an unpredictable ride. The property will sell, it just may not sell within your desired time frame and that can complicate plans to move, a purchase of another residence or other personal obligations that may be motivating the seller’s decision to sell. We recommend preparing yourself for the slight uncertainty by not putting extra pressure on yourself to sell within a certain timeframe or to a certain seller – understand that the process will have its ups and downs but in the end, with time, the property will sell. Give yourself the time to beat the stress. Selling a home is stressful.
2. Disclose Everything
For example, if the seller remodeled the kitchen, was it permitted? If not they should disclose the lack of permit.
As another example, we had a case where our seller was selling real property located at the bottom of a cliff. If the seller had a report disclosing that the cliff was unstable – they should disclose it and even provide the report. The more you disclose the less chance you get sucked into a non-disclosure lawsuit with an angry buyer. Good disclosures are the key to a smooth real estate transactions and avoiding remorseful buyers.
There are a lot of things that can go both right and wrong with the sale of your home. California is one of the states, unlike many others, that does not require an attorney to be a part of a purchase and sale transaction. However, because the sale of a real estate in California typically involves high dollar amounts we always recommend consulting with an attorney to make sure your deal goes as smoothly as possible.
by Zachary D. Schorr, Schorr Law, APC.