Home Selling FAQs

Should I sell my home myself or get an agent?

Although you can be successful in selling your home by yourself, you will be accountable for all aspects of selling a home. This will include advertising for your home, following up on potential buyers, obeying laws and disclosures necessary when selling a home. You must also properly complete all the required paperwork. Thus, using an agent will not only manage these issues for you, but an agent will ensure your home sells for its full market potential.

If an offer is made do I have to accept it?

No, but if it covers the framework of the listing agreement you have offered your home for sale, you may have to pay your agent a commission if you hired one. The buyer and seller must both sign the agreement before it becomes binding.

In the disclosure statement, how much information must I reveal?

Each state has its own rules about what information must be disclosed. It covers material or major defects that the owner is aware of such as appliances, structural defects and modifications, neighborhood problems, and other factors that would influence the potential buyer’s choice.

Can I stay in the house longer than the date stated on the purchase agreement?

You cannot stay in the home longer than what was stated unless you reach an agreement in writing. You also cannot take any items that were to be originally left behind without reaching a written agreement either. The buyer holds no obligation to you.

If I think I can get a higher price for my home than I accepted, can I take it?

No, you have a binding contract you are obligated to uphold. If you choose to break the contract you could be subject to be sued by either the buyer, your agent for loss of commission or pay a hefty amount in damages. Breaking a contract will most likely cost you much more money than keeping it.