Follow Us

Blog Linkedin YouTube

Seller Responsibilities

Know Your Responsibilities As A Seller

  • Be prompt and courteous to all Realtors - they will be the ones selling your property.
  • Your property should be available to accommodate the Realtor and his/her clients.
  • You must be prompt notifying your referral Broker when you sign a contract and then have your closing. The MLS requires timely updates to your MLS listing.
  • Be capable of faxing or emailing contract offers back to Realtors.

A Word of Advice
The Flat Fee Listing Service program is not understood by all Realtors. Unfortunately, some Realtors may be offended by the fact you got "into the system" by paying a flat fee. The fact is that if they have a buyer for your home they will show your home; treat them with courtesy, respect and professionalism. Realtors do not want to do your work, make sure you do your homework to understand the MLS process and understand your responsibilities as a seller. If you are unsure as to your responsibilities, stay in touch with us and we will guide you through.

Keep in Mind
By National Association of Realtors and MLS rules, the referral Broker needs to know when you sign a contract offer so that he/she can update your listing status to Pending Sale. Then after the closing, unless you want to be continuously called by Realtors after your home sells, you must let the referral Broker know when you have closed. The Broker will need your closing date, closing dollar amount, Realtor’s name and phone number, the Realty name and phone number, type of buyer financing and if there were any contingencies. It is very important to keep the integrity of the MLS at its best. Being current with your status changes accomplishes that.

Your Legal Rights And Obligations

  • You have the right to sell your home without the use of an agent or other third party.
  • You can price your home at any level.
  • You can change your mind about selling your property. You can also change the listing price at any time. If you are in contract and change your mind about selling, you should contact a real estate attorney for for his/her legal advice.

Please Note
You cannot refuse to show your home based on the following: age, citizen status, color, disability, marital status, national origin, race, religion, sex or sexual orientation. In other words, you cannot discriminate. This also applies to those who are elderly and to those who have children.

For more information about fair housing laws, please visit http://www.hud.gov.

Legal Disclosure Forms

In most states, you are required to complete a disclosure form.

Seller Disclosure of Property Condition
This form mandates the seller to state the condition of the home. Then in agreement with the buyer, acknowledge that the conditions prevent the buyer from suing the seller later on for repair or replacement.

You must state the overall condition of the house such as:

  • Basement/Foundation
  • Plumbing (Septic tanks, Sewer systems, etc.)
  • Electrical systems
  • Roof
  • Heating and cooling
  • Groundwater contamination
  • Any dangerous substances in the home (Asbestos, Radon gases, etc.)

You must also state the overall condition of appliances and components that will remain in the house such as:

  • Kitchen ranges, Ovens, Microwaves
  • Dishwashers
  • Refrigerators
  • Alarm systems
  • Pool heaters
  • Sump pumps
  • Fireplaces/Chimneys

You will note the overall condition as being good, fair, or poor. If you don't know the overall condition of a certain item, mark it "unknown". This alerts the buyer to have the "unknown condition" inspected.

2. Lead-Based Paint Disclosure Form
If your home was built prior to 1978, you must furnish the buyer any information or reports related to lead-based paint in the home. The buyer can then make an inspection or assessment on how related paint can be removed.

For more information about lead based paint, please visit http://www.nsc.org.

Failure of Disclosure

If you fail to notify correctly or to falsify any of the reporting above, the buyer may return after the sale and seek to recover damages. Be honest in all reporting. If you don't know the overall condition of the particular item, simply state "unknown". This will obligate the buyer to make a thorough inspection.

BACK TO HOME