Frequent Questions Asked by Sellers
What is a "listing?
When a house is available for sale it is
referred to as a listing since it "lists" the property for sale on the open
market and the property is "listed" on the Multiple Listing Service.
What is a "listing agreement?"
This is a signed contract between you and
a broker to market your property for sale. The agreement includes: the legal description
of the property as well as the post office address of the property, the asking price of
the property, any acceptable finance terms you designate, the brokerage fee, and the
length of time the agreement is to be in effect.
How do I determine the price?
A comparative market analysis gathered by
your Realtor will reveal the value of the home in the eyes of the current Buyers of homes
in your neighborhood. This is what determines the value of the home not the amount of
investment that you have in the property.
What is in the Sales Contract?
The terms of the contract between you and
the Buyer will be specified in this document. The sale price, the amount of earnest
deposit and who receives the money if the contract is in default, the amount of the
Buyers mortgage with contingency dates for approval specified, the date of
settlement or closing, inspection contingencies, required improvements, real property
included in the sale, and the signatures of all parties are all items that are included in
a sales contract. Additional terms such as personal property can be specified as well in
the contract. Read it carefully and ask questions if you do not understand a clause or
item in the contract.
When do I have to vacate the house?
In the state of Florida, the day of
settlement or closing is the day you are to vacate the home. Possession becomes the
Buyers at the time of the signing of the documents. Be prepared to give the keys to
the property, garage door openers, and manuals or instructions on the operation of
equipment to the Buyer at this time.
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