Seller Responsibilities
KNOW YOUR RESPONSIBILITIES AS A SELLER
-
Be
prompt and courteous to all Realtors.
-
Order Title Insurance on your home; we can do this for you
if you wish, Just call.
-
Order your mortgage payoff. We can assist with this too!
-
Understand contingencies and how they work. When you get an
offer, they need to be addressed.
-
Be
capable to fax offers to Realtors.
-
Understand Agency Law (refer to the agency disclosures). The
buyer's Realtor should not do your work.
A word of advice: You are treading in
new territory with the Flat Fee Listing Service program.
Unfortunately, many Realtors will be offended by the fact you
got "into the system" by paying a reduced fee. The fact is
that if they have a buyer for your home they will show your
home; treat them with courtesy, respect and professionalism.
Realtors will not want to do your work so make sure you do
your homework and understand the process and your
responsibilities as a seller. If you are unsure as to your
responsibilities, stay in touch with us and we'll guide you
through.
There are many pitfalls to avoid during the
sales process. Call us anytime for advice or if you wish to
have us process your transaction; we will do so for an
additional fee. Click
here for details!
The
PREMIUM PACKAGE, which gives you Full Representation
for a $499 Flat Fee Listing plus 1% at closing. (The 1% is
paid only when the home closes.) This program was designed for
those who are not comfortable with all the paperwork and
negotiations.
Keep in mind: by law we need to know when you get an
offer. Unless you want to be called after your home sells, you
must let us know when you have an offer so we can update your
file and show your home as sold when it does. This is very
important!
FLAT FEE
MLS
List Smart Texas, Inc.
Listing Contract Details
Understanding your Legal Rights and Obligations:
-
You
have the right to sell your home without the use of an agent
or other third party.
-
You
can price your home at any level.
-
You
can change your mind about selling it. You can also change the
price at any time.
-
You
can show your house to anyone you choose.
-
You
can likewise refuse to show your house to anyone who doesn’t
meet your guideline; e.g. someone who doesn’t have the
financial capacity to afford your home.
Please note: you cannot
however refuse to show your house based on race, color,
religion, sex national origin, or disability. In other words,
you cannot discriminate. This also applies to those who are
elderly and to those who have children.
-
You
can sell your home to whomever you please.
-
You
can likewise refuse to sell your home to someone who for
example, may disturb the peaceful setting of the neighborhood
with a bunch of dogs.
-
But
note that you cannot discriminate based on race, color,
religion, sex, national origin, or disability.
For more information about fair housing
laws:
http://www.hud.gov
Understanding Your Obligations:
Once you enter into a sales contract, you are obligated to
fulfill the terms of the contract.
Your home must be in working condition on
settlement date. You must inform the buyer about the condition
of your house. Personal items that
belong to the Seller must be removed from the house and
property prior to possession. The house should be thoroughly
cleaned.
Items that are "attached" to the home and
other agreed upon items stated in the contract must be turned
over upon closing.
You will pay any related commission fees if other
third-parties were involved in the sale of your home.
Legal Disclosure Forms
In most states, you will be required to complete and deliver
three highly important disclosure forms:
1. Seller Disclosure of Property Condition:
This form mandates the seller to state the condition of the
house; and in agreement with the buyer, acknowledge that the
conditions prevent the buyer from suing the seller later on
for repair or replacement. You must
state the overall condition of the house such as:
1. Basement / foundation
2. Plumbing / septic tanks / sewer systems / etc.
3. Electrical systems
4. Roof
5. Heating and cooling
6. Groundwater contamination
7. and any dangerous substances in the home such as asbestos
and radon gases.
You must also state the overall condition
of appliances and components that will remain in the house
such as:
1. Kitchen ranges/ovens/microwaves
2. Dishwashers
3. Refrigerators
4. Alarm systems
5. Pool heaters
6. Sump pumps
7. Fireplaces/chimneys
You will note the overall condition as being
good, fair, or poor. If you don't know the overall condition
of a certain item, mark it "unknown".
This alerts the buyer to have the "unknown condition"
inspected.
2. Lead-Based Paint Disclosure Form
If your home was built prior to 1978, you must furnish the
buyer any information or reports related to lead-based paint
in the home.
The buyer can then make an inspection or assessment on how
related paint can be removed.
For more information about lead based paint:
http://www.nsc.org
FAILURE OF DISCLOSURE
If you fail to notify correctly or to falsify any of the
reporting above, the buyer may return after the sale and
recover damages.
Be honest in all reporting. If you don't know the overall
condition of the particular item, simply state "unknown". This
will obligate the buyer to make a thorough inspection. |
