The selling process

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While there’s no standard process that a person must go through to sell their home, there are steps that are commonly taken. Typically, a seller will begin by researching agents with which to list the home. After they’ve found one they’re comfortable with, they’ll usually sign a listing agreement, which is a binding contract confirming a fee will be paid to the agent if the home is sold under the outlined conditions. Next, prospective buyers will be shown the home. Any prospective buyer who’s interested may tender an offer. If the terms of the offer are agreeable to the seller then they will sign a ‘buy/sell agreement’ which is a binding contract with specific clauses and obligations. Because it’s binding, it’s important to understand all of the clauses in full before entering into this contract. Typical clauses found in a real estate contract are financial contingency clauses and property inspection clauses. If the buyer is able to obtain the necessary financing and the property is deemed to be in good condition, the sale is then finalized. For more information about the selling process, contact a real estate agent or lawyer in your area.

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