There’s much more to selling a house than negotiating a sales price and close date. If selling a house were that simple, it wouldn’t require a 19-page legal document with over 100 paragraphs of legalese. The purchase contract is a binding legal agreement that specifies who will do what, who is going to pay for it, when will it be done, and what happens if it’s not done as agreed. Additionally, there are dozens of pages of other forms, advisories and mandatory legal disclosures that must be prepared, signed and shared in addition to the legal documents required by escrow and title.
While it’s vitally important for a seller to be professionally and even aggressively represented through the home selling process, we still hear three common reasons sellers choose to go through the process with full representation.
- I will have the escrow company represent me.
- I will let the buyer’s agent handle the paperwork.
- I have a friend or relative who is a real estate agent that will help me.
Escrow Isn’t the Answer
Escrow’s role in a transaction is to be completely neutral. They may provide required forms upon request, but they are forbidden to represent one side over the other. Escrow simply holds the buyer’s funds and coordinates the transaction to make sure all the parties involved perform as agreed. If there is a negotiation or dispute of any kind, escrow cannot help you. They only do what was agreed to in the contract between the buyer and the seller.
Don’t Trust the Buyer’s Agent
Just because you pay the buyer’s agent a commission, doesn’t mean he or she represents you. The buyer’s agent specifically represents the buyer’s interest. To say you will trust the buyer’s agent to represent you as the seller would be like going to court without a lawyer and letting the opposing counsel represent you. It is just a bad idea.
A Friend or Relative May Help
If you do have a friend or relative that is a licensed real estate agent, this may be a viable solution if they are experienced, their license is active and they have access to the Association of Realtors forms. It is critical to make sure they are familiar with the legal forms, disclosures and advisories that are required. You will also want to be confident they are prepared to handle multiple offer negotiations, issues with buyer non performance, and contract disputes. Their ability in these areas will be instrumental in getting top dollar for your home and mitigating the risks associated with mistakes, accidental exclusions and non compliance with the legal requirements of selling a home.
Everhome’s Sold With Owner Program
If you already have a buyer, but aren’t prepared to manage the complex steps that come next, our Sold With Owner program might be the right fit. It was designed to provide home sellers with a full service seller representation through the critical and more complex elements of the transactions like, negotiations, purchase contract, mandatory legal disclosures, contract disputes, request for repair negotiations, contingency removals and all the details associated with escrow and title. For a low set fee (regardless of the price of your home), we make sure you are properly (and aggressively) represented so you are not taken advantage of, and get the best price and terms when you sell your home.
Everhome’s commitment to you includes:
- A dedicated, full-service seller representation from a licensed agent (professional negotiator)
- A compliance manager for legal paperwork and disclosures
- Coordination of all inspections
- Request for repair consultations and negotiations
- Contingency removals
- Contract disputes
- Field all questions from the Buyer or buyer’s agent
- Buyer qualification
- Time saving e-signature for most documents
- Escrow and title coordination
- Errors and omissions insurance
- Secure document storage
- Free legal consultations
We have the experience and expertise needed to protect you and get your transaction closed. Our clients often tell us over and over again what a great value they get after seeing how much more money they net as a result of our representation. Take a look at some of the 100+ verified 5-star reviews and decide for yourself!
If you’d like to chat, call us at (805) 379-3300 for a free consultation. We’re here to help!
