Back many many years ago, it was common place to sell a home with a single piece of paper, or it could even be done on the back of a napkin! I guess in theory, it still could, but if someone were to do that, they will be open to lawsuits galore. Selling a home is not that simple any more. There are many forms and contract addendums that are needed to fully protect a buyer or seller, and it is our job as agents to fully protect our client as best as we can. There are many forms I use to do this, and I can not possible lis them all here, but I can provide a summary of the more common ones.
1. Property Disclosure Form: This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state.
2. Purchasers Access to Premises Agreement: This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.
3. Sales Contract: The agreement between you and the seller on terms and conditions of sale. Again, check with your state real estate department to see if there is a required form.
4. Sales Contract Contingency Clauses: In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies—such as the buyer’s need to sell a home before purchasing yours.
5. Pre- and Post-Occupancy Agreements: Unless you’re planning on moving out and the buyer moving in on the day of closing, you’ll need an agreement on the terms and costs of occupancy once the sale closes.
6. Lead-Based Paint Disclosure Pamphlet: If your home was built before 1978, you must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet.
If you are getting ready to sell your home, please contact me. I am happy to put my experise to work for you!