Home Seller Legal Services
Home Seller Legal Services is paramount when it comes to buying or selling. In fact, any home or commercial building purchase can be both exciting and stressful. Having an experienced real estate lawyer on your side can make a world of difference. Our firm has invaluable relationships with local realtors and lenders. We can handle every aspect of a transaction, from reviewing, negotiating, and drafting purchase and sales agreements and loan documents to advice concerning necessary inspections, engineering reports, and title insurance. Also, we work with home buyers and sellers in Seattle, Bellevue, Kirkland, Issaquah, Sammamish, Redmond, and throughout King County.
TIMELINE OF A HOME SALE
1. Inspect Your Home To Identify Any Issues.
In Washington State, Review the Seller Disclosure Statement (Form 17) to review any issues with the house that you must disclose to a purchaser.
2. Determine The Value (Price) of Your Home.
Interview several real estate brokers you have researched for their expertise and knowledge of your location. You may also want to have the home appraised by a licensed appraiser.
3. Prepare Your Home For Sale.
Complete repairs and cosmetic improvements to your home. This may include paint, carpet, and landscaping.
4. Order A Title Report.
It is best to order a Title Report (called a Preliminary Commitment) regarding your home from a licensed title company.
The Title Report would show any liens, surveys, and known encroachments related to your home. It would also show the legal title regarding ownership of the house. For example, a home may be titled as a partnership, trust, community or separate property, or an estate.
5. Listing Agreements:
If you hire a real estate broker, have an experienced real estate attorney review the listing contract before signing the agreement. There are a variety of ways to sell your home. Many of these options require you to sign a contract or other agreements. It is recommended that you have an experienced real estate attorney review any documents related to the sale of your home before signing.
6. List or Advertise Your Home For Sale.
Once your home is on the market, you will likely have a Keybox allowing real estate brokers to show your home. You will want to determine how much access and the times you want potential purchasers to tour your home.
You may also need to answer questions about the condition or management of your home.
7. Offers on Your Home.
Depending on the state of the housing market, you receive one or many offers to purchase your home. With one or multiple offers, many terms should be reviewed in addition to the offer price. Some examples are financing and possession issues. It is recommended that a home seller engage an experienced real estate attorney to review any offers prior to acceptance.
8. Pre-Closing Conditions.
After you have accepted a Purchase and Sale Contract, there will likely be one or more conditions that will need to be satisfied before the sale closes. These conditions may include inspection, appraisal, financing, title, and other conditions.
9. Work with the Escrow Firm To Close Your Home’s Sale.
Once all conditions have been satisfied, the closing process will occur. The Escrow Firm will draft closing documents such as the Deed, Settlement Statement, and Escrow Instructions. The Escrow Firm will also need any payoff information for your home loan. It is recommended that you have a qualified real estate attorney review the documents drafted by the Escrow Firm before you sign the paperwork.
10. CELEBRATE THE SALE OF YOUR HOME!
Seattle Legal Services for Home Buyers and Sellers
We work directly with clients purchasing a Seattle or Eastside area home, clients selling their homes, and real estate agents requiring assistance on non-standard contracts.
In addition to guiding our clients through buying or selling their homes, we also offer a unique experience in areas of real estate law, including:
- For Sale By Owner (FSBO) transactions;
- Disclosure requirements when selling a home;
- New construction contracts;
- Navigating the escrow and title process;
- Complex financing or ownership issues; and
- Disputes regarding earnest money, contract terms, and commissions.
At Sternberg Thomson Okrent & Scher, we have assisted individuals and families in buying and selling their homes for more than 25 years. Our firm has considerable experience in all aspects of residential real estate transactions and is responsive to your individual real estate needs. We have helped countless home buyers and sellers protect their legal rights in one of the most important financial decisions most people make.
Ideally, our clients engage us at the beginning of a real estate transaction so that we can initially negotiate and structure the sale to minimize the risks and maximize the benefits to our clients. Contact our office today to schedule a consultation.
