Selling your home can be an intricate and confusing transaction. Putting together the necessary paperwork, organizing open houses and showings, and dealing with all the legal ramifications can be overwhelming if you don't have help. Prior to putting your home on the market, consider working with a real estate agent.
Seller's Agent's Responsibility
A real estate agent can help you navigate the sale. It's possible to sell your home as a "for sale by owner" transaction, or FSBO, but this exposes you to problems that can be avoided if you have professional help. Finding a good agent is important, so ask friends for recommendations or visit the New Hampshire Association of REALTORS ® or the ™National Association of Realtors ®.
The Real Estate Listing:
New Hampshire recognizes three types of listing arrangements. An open right to sell is an open listing where anyone can look for buyers. An exclusive right to sell provides that only the agent finds the buyer. An exclusive agency right to sell allows you to find the buyer, but you agree to work with the one agency for selling. Look at the real estate agent's track record with comparable home sales in the area when deciding upon a realistic listing price. Photos, amenities, specific details, and a positive, motivating description should be included in your home's listing.
The Seller's Disclosure:
The New Hampshire property disclosure form is standardized. Sellers are obliged to complete it and and share it with buyers. The seller is liable for any failure to provide known information about the property's defects to the buyer.
Getting an Offer:
As the seller, you have the right to accept, refuse or counter an offer to buy your property. If you receive multiple offers, you can decide how to manage them, but seek advice from your real estate agent.
The Purchase Agreement:
After a purchase price is agreed on, a contract known as a purchase agreement is drawn up. Residential purchase agreements are usually standard forms, but you can have an attorney amend yours if necessary. In New Hampshire, it's common for an attorney to assist with legally binding contracts.
If any structural or other problems come to light after a home inspection, post-contract negotiations will be necessary to address them. You can make the repairs yourself, negotiate a new home price, or offer cash back at closing.
Closings are either informal, where the buyer and seller are present, or formal. At a formal closing, the agents and attorneys handle the details without the buyer or seller being present. Paperwork and checks are exchanged, and house keys, alarm codes and anything else necessary for entry to the home are turned over to the buyer.
A New Hampshire Lawyer Can Help
Consult with a New Hampshire real estate lawyer regarding the specifics of your particular home sale because every state's laws are different.