HOME SELLERS: AVOID GETTING SUED
Sellers love it when they get into contract to sell their house. It is when they are in the process of moving out and packing their stuff, that issues can arise which can end up as a lawsuit. Some forward thinking can avoid such a potential lawsuit.
Typically, any fixture or property that is physically attached to the house remains with the property. But there may be items that have some sort of sentimental value or may be of large monetary value that you do not want to leave behind. The key is to identify these items and let the buyers know they will not remain with the property, so that there may be no misunderstanding or confusion.
It’s an issue which can easily be avoided if addressed up front. The key is to put in writing, that the item will not stay with the property. Everything can be negotiated, so put it in the MLS, in the Disclosures Package and finalize it in the Purchase Contract. Make sure everyone is on the same page about what item is not staying.
Lawsuits happens if one party feels they were taken advantage of or mistreated. So make sure all parties are aware what is staying and what is leaving. When neither side feels they were mistreated, expensive and time consuming lawsuits can be avoided.
Closing escrow should be a time of celebration for all involved parties. Some forward thinking and planning can make sure it stays in a celebratory mood.
New home tours and the latest in Bay Area real estate, follow:
Sellers love it when they get into contract to sell their house. It is when they are in the process of moving out and packing their stuff, that issues can arise which can end up as a lawsuit. Some forward thinking can avoid such a potential lawsuit.
Typically, any fixture or property that is physically attached to the house remains with the property. But there may be items that have some sort of sentimental value or may be of large monetary value that you do not want to leave behind. The key is to identify these items and let the buyers know they will not remain with the property, so that there may be no misunderstanding or confusion.
It’s an issue which can easily be avoided if addressed up front. The key is to put in writing, that the item will not stay with the property. Everything can be negotiated, so put it in the MLS, in the Disclosures Package and finalize it in the Purchase Contract. Make sure everyone is on the same page about what item is not staying.
Lawsuits happens if one party feels they were taken advantage of or mistreated. So make sure all parties are aware what is staying and what is leaving. When neither side feels they were mistreated, expensive and time consuming lawsuits can be avoided.
Closing escrow should be a time of celebration for all involved parties. Some forward thinking and planning can make sure it stays in a celebratory mood.
New home tours and the latest in Bay Area real estate, follow:
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Fatal Mistake First Time Homebuyers Make
