Here is a list of the top 10 legal mistakes we commonly see other sellers make:
- Not disclosing known material facts affecting the value or desirability of the property.
- Accepting the buyer with the highest offer without regard to the other contractual terms.
- Not properly handling multiple offer situations with multiple buyers.
- Not properly handling back-up offers.
- Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
- Entering into an agreement before verifying the buyer’s financial ability to close escrow.
- Not providing the buyer with legally required disclosures.
- Not obtaining the buyer’s written acknowledgement of disclosures.
- Not considering whether to require the buyer to remove contingencies.
- Not excluding items from the sale that the seller wants to keep.
While this is not an exhaustive list, we certainly go to great lengths to keep our seller clients out of harms way thus minimizing any potential for litigation from a buyer.