First and foremost unless you’re in the real estate business and know what you’re doing, hire reputable professionals, i.e. a Realtor, attorney, title company, etc. The following tips are of importance to keep in mind before, during and after the selling process.
1. How title is held, and is it a Homestead, estate trust, FIRPTA and other issues.
2. Condition of Property
3. Disclosure requirements
4. Exclude items not included in sale
5. Calendar due dates for deposits, and request and review escrow letters.
6. Note that closing date may be extended by 7 days to comply with TILA, or may be extended due to “force majeure.”
7. Prepare for removal of all personal items and trash from the property, and deliver occupancy and possession with all keys and receivers.
8. If financing, calendar date of expiration of financing period and review loan commitment.
9. Deliver Owner’s Title Insurance Policy and Survey within five (5) days from Effective Date.
10. Review seller disclosures, (i.e. permitted work, open permits, etc.)
11. Provide utilities and access for buyer(s) to do a walk-through on day of or prior to the closing date.
12. If lease(s), must furnish copies of leases, estoppels, and 12 month’s income and expense statements within (5) days of inspection Period.
13. Condo Rider-Carefully review the new far-reaching representation relating to the possibility of assessments, and seller’s representation as to knowledge.
14. Short sale addenda-Consider continuing obligations, release of deficiency judgment and potential for cancellation of indebtedness (COD) income. Consult a qualified real estate agent with the designation of CDPE- (Certified Distressed Property Expert, or other designations with respect to short sale knowledge, Title company and or attorneys that specialize in the matter.
15. You can ask for whatever price you like but know; “The value of your real estate property is only worth what a buyer is willing to pay for it.” So if there are no bidders in the first couple of weeks of marketing your home (The type of marketing is very important), more likely than not, the home is overpriced.
I hope this helps! For professional advice on buying or selling real estate please feel free to contact me Richard Recuset, at 786-471-5228.
teamDoral is a RE/MAX Premier Associates Group. Richard Recuset is a REALTOR®, team leader, Short Sale Agent, Listing Marketing Specialist,Certified Distressed Property Expert (CDPE), Certified Internet Professional, and an Accredited Commercial Professional (ACP), serving the City of Doral, Fl., and surrounding areas.
When you hire team-DORAL for your real estate needs, you not only get highly qualified professionals on your side, but also access to information, markets, technology and a team of experts from around the world.
You tap into a global network with vast experience in residential and commercial real estate. That network comprises thousands of dedicated individuals, all with just one thing in mind: producing the best possible results for our clients.
*Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advise and is for information purposes only.
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