Selling a Home

The Department of Housing and Urban Development (HUD) has reported more and more incidents of abusive practices by businesses involved in selling or financing homes. Inattentive homeowners can find themselves in a recently purchased home that is not worth the amount of their mortgage loan or that contains property defects that were not properly disclosed. Either of these problems can ultimately lead to foreclosure. To understand more about these practices and learn how to protect yourself from predatory lending, contact an experienced residential real estate attorney.

Jeffrey A. Klein, of the Law Office of Jeffrey A. Klein in Daytona Beach, is a Florida foreclosure defense attorney who represents clients by aggressively fighting to save their homes and negotiating with lenders on their behalf. For more details about foreclosure and how it works, please visit the foreclosure process page.

Below is some general information to educate you about how the law applies in home ownership cases. For answers about your specific situation, please contact the Law Office of Jeffery A. Klein to schedule a free initial consultation.

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The Law Office of Jeffrey A. Klein helps people facing foreclosure by aggressively defending the lawsuit and negotiating with the lender on the client's behalf. When you hire Jeffrey A. Klein to represent you, he will seek to re-work your mortgage or negotiate a short sale or deed in lieu of foreclosure.

Are you facing foreclosure or behind on your mortgage payments? If so, contact the Law Office of Jeffrey A. Klein immediately by calling the firm in Daytona Beach at 386-492-9952 or toll free at 866-819-6032. Or, contact the office online, and a knowledgeable lawyer will respond to you shortly.

Selling a home is exciting, but it takes some work. A seller will need to make many decisions, including whether to make delayed repairs and whether to use a professional real estate broker. The process can be complicated, with many potential pitfalls. An experienced residential real estate attorney at The Law Office of Jeffrey A. Klein in Daytona Beach, Florida can offer essential advice and guidance throughout the process.

Decisions

A seller must consider the following:

Whether to use a broker, and if so, the broker's commission
What personal property will be included in the sale
What repairs and cosmetic changes should be made
What is an appropriate asking price and what is the lowest acceptable price
What defects the seller must disclose by law
Whether the title to the property is marketable

An attorney at The Law Office of Jeffrey A. Klein can assist a seller in making these decisions and help place the seller in the best possible position to negotiate the sale.

Pricing the property can be tricky. The seller wants to get as much as possible for the home, but the seller does not want to scare off potential buyers. Also, setting an artificially high price may cause the property to languish on the market, and reducing the asking price may lead buyers to wonder if something is wrong with the property. The seller should consider the property's location, the general economic conditions, supply and demand, the community and schools, the average price in the neighborhood, and the condition and amenities of the home in setting an asking price.

Timing

A seller generally should place his or her home on the market before trying to purchase a new home. A seller who locates a new home first and then tries to sell the old house may end up paying two mortgages. Simultaneously buying and selling a home can create a domino effect. Closing and moving dates for several parties may have to be coordinated. The seller will want to document all dates carefully and should consider including in the purchase agreement financial penalties for failure to comply.

Choosing an Agent

Some homeowners decide to sell their homes without an agent to save the commission. The commission rates may vary, depending on the locale and the agency, but they are always negotiable. A seller that chooses to handle his or her own sale must be prepared to place ads, answer phones, and show the home. Also, buyers who know that no agent is involved often expect to benefit from the lack of a commission, so they may offer less for the home. If the seller chooses to use an agent, the agent will generally be responsible for helping to establish a fair asking price, showing the home, promoting the home to other agents, listing the property in multiple listing services, advertising the property, and scheduling appointments to show the home. A seller who engages an agent should carefully consider and negotiate the broker's commission and the term of the agency before signing a listing agreement.

Legal Representation

A person selling a home should be represented by an attorney who has experience in real estate transactions. If a potential buyer presents a written offer that the seller accepts, it becomes a binding sales contract. An attorney should review the offer before the seller signs it. Also, an attorney can help the seller at closing and determine what federal and state tax effects may result from the sale.

Conclusion

Many factors and decisions are involved in selling a home. The experienced residential real estate lawyers at The Law Office of Jeffrey A. Klein in Daytona Beach, Florida can offer advice to help a seller negotiate the best agreement for the sale of his or her home and ensure that the closing goes smoothly.

DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent legal counsel for advice on any legal matter.

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