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How to Create a Agreement to Sell a House
Friday, December 30, 2011
When trying to sell a home, the first step is to draw up an agreement, also called a contract, that includes the details of the sale. Included should be the legal description of the property, the selling price and the date when ownership will transfer from seller to buyer. This is a legally binding contract that commits both parties to the sale.
Purchase pre-printed agreement forms at a stationary store or on the internet. Make sure all the personal and contact information is filled out. All the pertinent details on the sale should be included as well, with lines drawn through any blank spaces.
The legal description of the property on the sale agreement should be filled in exactly as it is on property records of the county. It should immediately follow the property address on the sales agreement.
Write out the price of the home numerically and spell it out. Make sure both amounts match exactly. Give a description of what is included in the sale price and what is excluded. Things to consider would be appliances, storage sheds and above ground pools.
The amount of the deposit should be specified and the reasons that the deposit will be refunded or retained in the event the sale of the house does not go through. Sometimes only a portion will be retained due to extenuating circumstances. Be specific as to the reasons and amounts, as this may become important down the road. Nothing says sell my house
like an iron-clad agreement.
Ensure there is no confusion by detailing whether an existing survey or a new survey will be used. An inspection may be necessary so detail when this will be done as well. Specify who will pay for the inspection and a new survey, if necessary. Detail who will pay for any repairs discovered in an inspection.
Enter a closing date on the agreement. This date is when possession of the home, the title and the money changes hands to close the sale. Make sure both parties can meet this date and that all possessions that are excluded are out by that date.
Closing costs are involved in the sale of a home and the agreement should specify who will pay for which costs. Specify that each will be responsible for their own, if this is the case.
Detail any items not included. Be sure all parties sign and date the contract. Each party gets a copy. Nothing says sell my house
more than a properly written and specific contract.