Factors To Keep In Mind When Selling Real Estate
There are many issues regarding the sale of real estate. The first question of selling is whether to hire a licensed real estate agent or sell the property yourself. If hiring a real estate agent, then a contract must be made between you and the agent.
The contract should include a variety of terms that state: how long the contract will last, the agent’s authority while working on your behalf, whether the agent is the only one to sell the house on your behalf, type of compensation (almost always a commission based on the sale price).
If buying the property, issues are:
- Should I get an agent to look for me?
- Should I get the property inspected?
- What happens if something’s wrong with the house and nobody tells me until after I buy it?
An attorney should be consulted before entering into real estate agreements to: 1) ensure the contract protects your interests, and/or 2) address your concerns and to give you a straightforward analysis of the potential benefits and risks.