| There's more to selling a home than
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| | contract you have with your potential
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| putting up a "For Sale" sign and waiting
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| | buyer valid? Are there any hidden clauses
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| for people to make offers. If want to
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| | that may come back to haunt you later?
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| sell your home, you need to be aware of
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| | Know what your sale contract says and
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| the many local and state laws and various
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| | means before it is signed.
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| regulations attached to selling property.
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| | Zoning and Local Ordinance Laws - The
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| You have be knowledgeable about real
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| | sale of your home may be subject to
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| estate contracts and know every step
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| | various zoning laws and ordinances in
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| involved with regards to inspection,
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| | your area. For example, a buyer may want
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| financial considerations, and legal
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| | your house for a home-based business or
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| paperwork.
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| | for charity purposes, but the laws in
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| For a real estate contract between two
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| | your town may not permit that. Research
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| parties to be legal, for example, it must
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| | what regulations are applicable to your
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| have the following elements:
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| | property before you sell.
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| 1) At least TWO parties of sound mind in
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| | Occupancy Laws - Is your home subject to
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| agreement of the contract - the buyer and
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| | occupancy laws? Can you legally sell your
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| the seller
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| | house to more than one family unit?
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| 2) Legal identification to verify legal
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| | Before you put your house up for sale,
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| signatures on all paperwork
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| | make sure you research any occupancy
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| 3) The correct address of the property
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| | limits and restrictions.
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| for sale
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| | Building Code Laws - Is your home "up to
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| 4) All agreements with regards to the
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| | code"? In other words, is the house
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| sale and promises of payment made in
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| | compliant to all safety and health codes?
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| writing and signed
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| | Have any repairs and remodeling work been
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| 5) Unqualified understanding between the
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| | done to the house, and if so were they
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| buyer and seller so each is aware of
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| | done with the required materials? It is
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| payment schedules and other
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| | not legal to sell an unsafe home, so make
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| considerations
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| | sure any construction done before the
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| Coming to an understanding with a
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| | sale is completed safely and correctly.
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| potential home buyer is one thing. When
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| | Environmental Rules and Regulations - Is
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| you consider going the For Sale By Owner
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| | there anything in your home that poses a
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| route, you also need to be aware of the
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| | potential environmental hazard? Is the
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| many laws attached to selling a house.
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| | construction of your home sound and free
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| Local and county laws may vary according
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| | of asbestos and other harmful elements?
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| to where you live, but there are at least
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| | Make sure you know what is considered
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| twelve worth researching before you put
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| | toxic in your area, and that it's not in
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| up your sign:
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| | your home!
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| Seller Disclosure Laws - By law, you are
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| | Stigmatized Property Laws - Was your home
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| required to inform any potential buyers
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| | the scene of a murder or other disastrous
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| of damage or other problems with the home
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| | crime? Is your home a local legend in
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| that may impact its value in the future.
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| | that people believe it's haunted or
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| If the house will be in need of a new
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| | cursed? It may sound amusing, but
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| roof in a year, or if there are cracks in
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| | sometimes it can be difficult to sell
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| the foundation that need repair, you are
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| | property that has been "stigmatized" by
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| obliged to let buyers know.
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| | gossip and legend. If your house has such
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| Lead Base Paint Disclosure - Similar to
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| | a legacy, it is best to research any
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| the Seller Disclosure, if lead-based
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| | disclosure laws that apply to the sale.
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| paint has been used in your home, you are
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| | If somebody was murdered in your home,
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| required to inform all potential buyers
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| | for example, you may have to disclose
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| of this.
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| | that to a buyer.
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| Federal Fair Housing Laws - In accordance
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| | Governmental Rights and Real Property
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| with Title VIII of the Civil Rights Act,
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| | Laws - Each state has its own laws with
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| it is illegal to discriminate against a
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| | regards to the definition of "real
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| potential home buyer based upon race or
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| | property." It is suggested all potential
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| color, gender, creed, nationality or
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| | sellers know how their states interpret
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| handicap. These laws prevent refusal of a
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| | what is real property as opposed to
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| sale or price adjustment of a home based
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| | "personal property." This may affect
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| upon these factors.
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| | certain appliances in the house to convey
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| State and Local Housing Laws - Your
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| | with the sale, or property lines.
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| particular region may have specific laws
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| | Governmental rights laws may be put into
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| relating to the sale of homes in the
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| | effect if the government is interested in
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| area. It is highly recommend to research
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| | acquiring property for various purposes
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| any possible regulations that may affect
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| | (i.e. you own a parcel of land where an
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| your ability to sell on your own.
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| | interstate is to be built). Read up on
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| Advertising and Marketing Laws - If you
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| | these laws before you sell.
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| plan to take on the advertising of your
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| | Selling a home can be a daunting process,
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| home sale by yourself, you may need to be
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| | made all the more difficult if you are
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| aware of certain regulations applicable
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| | not aware of the many laws in your area
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| to your area. If you are placing a
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| | that bind you to certain obligations. So
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| newspaper or magazine ad, you may be
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| | before you hang that sign, make certain
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| required to disclose specific information
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| | you are knowledgeable about the
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| about your home. Do your homework!
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| | implications behind it. Having the law on
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| Real Estate Contract Law - Is the
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| | your side will make for a smoother sell.
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