Legal Help When Buying and Selling Property

Ready to Sell Your Old Home to a Friend? Call a Real Estate Closing Lawyer to Save Money

1 September 2020 by Louise Boyd

If you are building a new home, your builder that manages all the paperwork, you want to sell your home, and you already know people that want to buy it, then skip using a realtor. This can save you and the buyer money and time.

You can instead have a quick and stressless sale when you use a real estate closing lawyer to manage the sale of your home, and you can just pay them the fee for their services instead of a portion of the sale. Here are a few things to do in advance.

1. Ask About Inspections

Ask the buyer if they want to get an inspection on the home. There are different inspection options, so let them choose what they prefer since this is something they are paying. During the inspection, the professional will look at things like:

• The structural integrity of the home
• The quality of the building materials
• Any major red flags or concerns
• The appliances' conditions
• Plumbing, electrical, and other utilities

After the inspection comes in there may be things that the buyers want you to fix or replace. Talk with the lawyer to determine if this is worth your time or money, or if you should just give them a price break for the changes needed.

2. Get an Appraisal

There are a few reasons you want to have an appraisal done on the property. You want to have an appraisal from someone that goes in and out of the home to determine:

• If you are selling the house at the right price
• What the comparable options are
• if there will be any concerns about the cost for the buyers

If the buyers are taking out a loan to buy the home, then they can't take out more than it's appraised for, especially if they can't pay the extra amount over the appraisal in cash. The buyer may be willing to split this cost with you.

If you are under construction on a new home and you want to sell the current home that you have to someone you know that already wants to buy it, you don't have to waste the money on a real estate agent. You don't need to pay for all the work that goes into selling a home because there is already an interested buyer. Instead, find a real estate closing lawyer and move on from there.

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