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Fine-tuning your real estate purchase contract

When selling your home in Virginia, you will want a reliable contract leading the way. Developing an agreement that will protect your best interests will take time and require your diligence.

Carefully articulating each part of your contract can protect you from costly consequences. An attorney can help you organize an agreement and fine-tune the content to work in your favor.

Prepare to negotiate

While selling your home, you may encounter a number of interested buyers each with their own objectives. You will inevitably find yourself negotiating an agreement that meets the buyer’s expectations without sacrificing your own best interests. In preparation for selling, prepare to negotiate.

You can use your contract to clarify what you will give up and what you will not budge on. Some factors you may choose to address in your real estate contract include the following:

  • Repairs
  • Home warranty
  • Closing costs
  • Possession date
  • Contingencies
  • Items left on your property

Confirm understanding

One of the trickiest parts of selling your home is the process of waiting for the buyer’s financing to go through. Sometimes, when you least expect it, a buyer’s financing may fall through putting you back at square one. According to HGTV, prior to pricing your home, consider the market value of the homes in your area. Look at the purchase price of recently sold homes in your community. Gauging this information can help you determine an appropriate price for your home. You may also consider setting certain financial requirements to hopefully increase the chances of attracting buyers that can reasonably afford your property.

An attorney can help you assess what you need to include in your contract. You can rely on the experience of a legal professional to verify the legitimacy of buyer offers and negotiations so you can come away with an outcome that provides an optimal benefit for you.

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