Selling a Home in Ann Arbor
Whether you sell your home through a real estate agent (as most sellers do) or sell it yourself, the process is basically the same. There are the four main stages.
- Disclosure Forms. You’ll need to complete a seller’s disclosure statement and a lead-based disclosure form for potential buyers to view. If you present a full picture of your home’s condition, a buyer will find it hard to later claim that you intentionally hid a problem, such as a leaky basement.
- Sales Contract. Likely, you’ll use the sales contract form created by the Ann Arbor Area Board of Realtors. The buyer will probably want to make the sale contingent on getting a mortgage loan, and having a contractor’s inspection. That’s fine, but strive for an early deadline for the contingencies to be removed. If the sale is going to fall through, you’d like to know that as soon as possible.
- Title Insurance Commitment. The title insurance commitment gives you a heads-up on any title problems that need to be resolved before closing.
- Closing Papers. Ask to see the closing documents in advance. Verify that the HUD Settlement Statement contains accurate numbers. Also, carefully read the seller’s affidavit to make sure you know that the facts you’re attesting to are correct.
The attorneys at the Ann Arbor firm of Hamilton, London, & Davis can review the documents in your home sale to determine if your interests are protected.