Resource for For Sale By Owners in DC, Maryland, and Virginia

How you handle negotiations with your clients is critical because you may give away too much if you don't know your buyer's real motivation. These negotiations include legal paperwork that you may or may not know.

One of the most critical steps in getting your home sold is navigating all the legal paperwork in a home sale. I know there are many “kits” and free legal forms you can get online, but this is one area of the transaction you must be very careful when representing yourself.

Now I am unable to provide most of the legal contracts that we use because they belong to our local Realtor Association and are written by their attorneys for the use of professional Realtors, I can tell you a few that you will need.

The documents that I am unable to share include:

• Buyer Pre-Qualification Letters

• Sales Contract

• Sales Addendum

• Useful information about real estate transactions (NVAR K1297)

• Lead Based Paint Disclosure (NVAR K1034)

• Appraisal Contingency documents (NVAR K1349)

• Financing Addendums (VA, FHA, Conventional)

• Escalation Addendum

• Home Inspection and Radon Testing Addendum (NVAR K1342)

• Home Inspection Contingency Removal Addendum (NVAR K1343)

• Notice Removing Financing Contingency (NVAR K1331)

• Purchasers Acknowledgement of Receipt of Condominium Disclosures (If applicable)

• Purchaser’s Acknowledgement of Receipt of Property Owners’ Association Disclosures (if applicable)

• Purchaser’s Notice of Potential Adverse Consequences

• Sale Contract Addendum Lead-Based Paint testing

• Sale Contract Private Well/Septic Addendum (NVAR K1360) (if applicable)

• Understanding your rights and responsibilities (NVAR K136)

• Useful information about real estate transactions (NVAR K1297

• VA – Disclosure Statement for Residential Property (NVAR K1366)

• Walk-through Inspection (NVAR K1210_

• … and a whole lot more.

When it comes to getting these filled out, the title company will guide you through the most important parts of the legal process, but they cannot guide you when working with the buyer to make sure you get the best price and terms.

As a real estate agent, I represent you in the transaction acting in your best interest to close the deal.

Much of the negotiation comes during the home inspection process when the buyer may want unreasonable improvements to your home. How you handle these conversations are critical because you may give away too much if you don’t know the true motivation of your buyer. That’s my job to find out on the phone when working directly with the buyer or through their real estate agent.

It also helps to sign up for an online contract signing service like www.DocuSign.com so you can send the contracts to your buyer online for a signature rather than dealing with hard copies.

I carry special insurance in the worst case scenario something was not completed correctly that will protect you in the transaction. If you’re not sure how to fill these out, give me a call and I’m happy to guide you.