Know what your home contract means
The process of accepting a buyer’s offer can entail a lot of back-and-forth and many documents that require your signature. It can be overwhelming and exhausting for some sellers, but be sure to look for key items in these documents – and ask your real estate agent as many questions as you need to along the way.
Key items to look for in the buyer’s purchase contract:
- Closing date. Is it the date you expected? Does it allow you a reasonable timeframe for making your move?
- Possession date. When will the buyer expect to take possession of the property, and how does that affect your plans to pack, clean and move?
- Personal property. Home contracts allow for buyers and sellers to include personal property with the sale. These items may include appliances, window treatments, patio furniture and more. Review the contract to ensure that the items selected match your expectations.
- Repairs. Will the buyer expect you to make repairs, and does the contract specify when and how those repairs will occur? Be sure you know your responsibilities and options when it comes to repairs.
- Contingencies. Most home contracts are contingent on one or more factors before they become final, including home inspections. If the buyer must sell another home or secure a mortgage loan before the purchase can be final, ask your real estate agent about including time limits on those contingencies.
- Offer expiration. Most offers require a response within a certain timeframe. Know when you must submit an answer, or a counteroffer, to the potential buyer.
Working with a skilled real estate agent can help take some of the pressure off you during the sale of your home. If you are selling a home in Steamboat Springs, contact us using the form below. We would love to put our more than 30 years of experience to work for you.