Thinking about selling your home in Minnesota by yourself? It’s a big step, and while it can save you some cash, the paperwork and contracts can be a bit tricky. A flat fee agent in MN can make everything easier. Not only can they help list your property on the Multiple Listing Service (MLS) for wider exposure, but they also assist in navigating the intricate paperwork involved.
Key contract elements in FSBO Sales
Even with the support of a flat fee agent in MN, as a seller, you’ll primarily handle the contract drafting. This contract, essentially the purchase and sale agreement, outlines the terms and conditions of the sale, including contingencies, closing procedures, and deadlines. It’s crucial to ensure this contract is well-prepared for a smooth sale.
A flat fee agent in MN can review your FSBO contract, checking for accuracy and completeness. With their expertise, they can help you avoid expensive mistakes. They can help scrutinize critical contingencies such as:
- Financing contingency – This provides buyers time to acquire financing and a chance to get back their earnest money.
- Home sale contingency – This allows the buyer to withdraw their offer if they cannot sell their current home within a specific timeframe.
- Inspection contingency – This permits the buyer to cancel the deal if a home inspector finds serious problems.
- Appraisal contingency – This lets the buyer back out if the home’s appraisal is less than its purchase price.
In addition, they can also help you verify that these details are in the contract:
- A clear title that defines the purpose of the document
- The names of every party in the sale
- The purchase price
- A definite deadline
- Property details
- Closing costs
- Property disclosures
- Contingency clauses
- Signature block
Manage the complexities of FSBO contracts with the assistance of Real Estate Corners. Our flat fee agent in MN will not only save you time and money but also provide the marketing expertise to expedite your sale. Plus, we can connect you with reputable lawyers for additional legal support. To get started, call us at (612) 483-1230.
