Selling a House: Do I Need a Contract?

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real estate property


There are many people who want to sell a house and are in the enviable position of not having to list it as they have a friend, relative, co-worker or new acquaintance who wants to buy it. They just need to close the deal themselves and are clueless regarding what happens next after finding a buyer. Finding a buyer is the first of many steps in the process of getting a house sold.


The most important thing home owners need to know is that the sale of their house is different from the sale of anything else they own. The legal term is "real estate property" and the laws differ somewhat from state to state with specific legal terms that cover the sale of real estate property. For one thing, it must be in writing. It may start out as a verbal agreement, but it must turn into a written agreement in order to be considered legal. Real estate forms used by brokers and lawyers include all the elements necessary when selling a home in any local area. State laws and municipal laws, if any, are incorporated into these forms.


One should never attempt to write a legal contract for the sale of the house by oneself as it is a very unwise thing to do. One can leave something out or can make a mistake that can cost a lot of money. The best way out is to have a form drafted by one's lawyer or a real estate broker that can be photocopied and carried anywhere. They have the forms and the knowledge to make sure it's done correctly. One will probably have to pay them for this service, but it will be worth the money as one can make sure the process of selling a house or property is legally correct.

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3 Comments

  • Admin

    Kumar Rohit

    30 July, 2018 at 4:57 pm

    Thanks for the wonderful advice indeed! However, in my case, I had to take help of a contractor in order to sell my house. Thanks a lot for this.

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  • Admin

    Dip Kumar

    30 July, 2018 at 4:59 pm

    As per my knowledge, selling a house isn't that difficult. But, when it comes to resell value, a contractor can be of much help. Thanks for the post shared with us. It will be much helpful.

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  • Admin

    kanishka

    06 September, 2011 at 1:04 pm

    Good place! Thanks for sharing the information.

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