Top Ten Legal Mistakes Home Sellers Make

From the California Association of Realtors

1. Accepting the buyer with the highest offer without regard to the other contractual terms.

2. Not properly handling multiple offer situations with multiple buyers.

3. Not properly handling back-up offers.

4. Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.

5. Entering into an agreement before verifying the buyer’s financial ability to close esrow.

6. Not disclosing known material fact affecting the value or desirability of the property.

7. Not providing the buyer with legally required disclosures.

8. Not obtaining the buyer’s written acknowledgement of disclosures.

9. Not considering whether to require the buyer to remove contingencies.

10. Not excluding items from the sale that the seller wants to keep.

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