Curt Epperson, 

Attorney at Law

P.O. Box 627   Manson, WA.  
509 687 6236

Articles 

Legal Links     

Back to home page.

Information herein is  for general purposes only and cannot be used or applied to any specific legal situation or relationship.

The information contained in these Web pages is designed to provide information in regard to the subject matter covered. This Web presentation is not a legal, financial or accounting service, nor legal, financial or accounting advice. If legal advice or other expert assistance is required, the services of a specific professional advisor should be obained.

Things to Do Before You Offer Your Home For Sale

Make sure you follow these simple tips before you place your home on the market.

  Make sure your home is in top showing condition. To sell your home for top dollar you need to sell it as quickly as possible. It must be priced right and it needs to be in top showing condition.

 Don’t put your home on the market before it is ready to be sold. Take a look at new home subdivisions. The homes are open, spacious, clean, uncluttered, and neutral in color.  Try to think like anyone marketing a product to consumers.

 Get a good, reliable phone answering machine. If you do not have an answering machine, use the telephone company's voice mail/answering service.

After Your Home is Put on the Market.

When you use a real estate agent, you may have very little to do except keep your home in good showing condition. But when you sell your home on your own, it’s a different situation.  You must be available to show the home and deal directly with potential buyers.

 Make sure you show the home at a time that is convenient for the Buyer.

 Follow up with a phone within 24 hours after each showing.  Ask questions and try to get some feedback from the person you showed your home to.  Use this feedback to make adjustments in how you market and show your home.

 Place classified ads in the local papers and make sure you are available to answer inquiries.

 Place a “For Sale by Owner” sign in a prominent place in front of your home.  Place directional signs along nearby main thoroughfares.

 Have flyers available outside your home with the pertinent details and price information.  Make sure you distribute flyers to your neighbors and friends. 

 Be prepared to receive inquiries from agents. Sometimes a buyer's agent is out driving in your neighborhood with a buyer and they see your home for sale sign so they decide to stop and show it.  If you are willing to pay a selling agent commission, and if you are satisfied that the person is a licensed real estate agent, try to accommodate them.

 If someone comes to your door without a real estate agent and wants to see your home you should politely decline to show your home at that time. Ask for the person’s name and telephone number, write it down and schedule an appointment for a showing.

 When you are selling your home you should remove valuable objects and store them in a safe location. Most people are honest but it is not always possible to monitor buyers every move while they tour your home. Be safe and take precautions rather than be sorry!

What Happens When You Get An Interested Buyer

Offers need to be in writing and signed by the buyer (and spouse) and the seller (and spouse).  A verbal offer to purchase real estate is not an enforceable contract.  The offer and all counter offers must be in writing and signed and dated by all parties to the contract. Any changes must also be initialed and dated.  Before you accept an offer that requires a loan to buy your property, try to determine certain information about the buyer.

 Is the buyer pre-qualified for a mortgage? Is the pre-qualification amount sufficient to finance the purchase of your home?

 Is the buyer pre-qualified or pre-approved? There is a big difference.  The first one means he can probably get a loan, the second means he already has a loan. The problem for you as the seller is that if the buyer's financing falls through you have lost valuable marketing time for your home.

 If the buyer submits the offer, you must carefully review the contract in an attempt to fully understand the offer and determine if there may be a negotiating opportunity for you. This is a good time to get competent legal advice. Get legal advice BEFORE you sign the offer.

 Before you start to negotiate, have a strategy and incorporate it into the very beginning of a response to the buyer.  A good negotiating strategy will go a long way toward selling your home for the price you want.

 The process of negotiating the sale of the home can be very quick, or it can takes days, or maybe even weeks. Try not to take an offer personally or get offended by a low offer. It is almost "tradition" that buyer's initial offers are well below the asking price

 When you are considering countering an offer from a buyer remember that if you accept the offer before it withdrawn it will be a legal and binding offer (providing all the appropriate documentation has been completed). Also, as soon as you present a counter offer, the buyer's last offer is no longer binding upon them. Keep in mind that one last counter offer may chase a buyer away to look at another house.

What Are Contingencies?

Once a purchase agreement is in place has been accepted and signed by all parties the sale still may not be final. There are often contingencies in the contract that must be satisfied before the sale can be closed. Two frequent contingencies or conditions are the buyer's ability to obtain financing to purchase your home (unless it is an all cash offer) and a home inspection.  Most home purchase offers are contingent upon a satisfactory home inspection. This usually occurs within a week or two weeks after acceptance of the sales contract by all parties. The buyer will hire a home inspector (at the buyer's expense), who will conduct an inspection of your home on the buyer's behalf.

The requirements in many states for someone to be a home inspector are minimal. Make sure the sales contract reflects that the home inspector must be qualified or certified, and competent to act in the capacity of a buyer's home inspector.

 As the seller you should have the option to agree to make the repairs, counter a repair offer to the buyer, or refuse to make any repairs. There is usually a negotiating period in the sales contract during which time the buyer and seller must come to an agreement or the contact can be terminated.

 Carefully monitor other conditions or to protect your best interests. If you are not working with a real estate agent, seek advice from an attorney who is well-versed in real estate law and the real sales processes.

What Happens at the Closing?

After all the purchase agreement contingencies have been removed, the closing should occur. The closing usually takes place at a real estate attorney's office, or at the office of a licensed escrow agent, or at a title companies office.

 You will be notified of the closing date, time and location by the office doing the closing.  At that time you will sign the necessary documents to transfer ownership.

 With pre-owned homes, the closing date and your possession date are often different days. This allows the house to close and gives the seller a few days to move out. (With new homes, the closing date and the possession date are usually the same day.)  The closing date and possession date must be stated in the Purchase and Sale Agreement.

 Buyers must bring a certified check for the amount of the down payment, closing and escrow costs less any payments already made.  You will also need to bring valid proof of identification to the closing.

 At the closing you will sign a mountain of papers. You have no choice but to sign them all. If you do not sign them all exactly as written a buyer will not get the loan and will not be able to buy the home.

To review all the documents thoroughly, ask to have copies sent to you prior to the date of closing.   (This also gives time for you to review the documents with your attorney if you desire.)

 Closings usually go smoothly but do not be surprised or alarmed if yours does not. Lenders often insert last minute buyer conditions or do not get the documentation to the closing office in a timely manner. Hope for the best, but prepare for the worst. A closing will normally take only about an hour to complete.