With everything that goes into selling a home, it’s important to be familiar with the process so you can move through it as easily and successfully as possible. In this article and our next one, we’re going to go over not just general information helpful for selling a home, but the specific information that’s important for selling your home in Pennsylvania.
Working with a real estate agent:
While it is possible to put your home up for sale yourself, most homeowners in Pennsylvania do choose to work with a licensed real estate agent. There are many reasons to make this decision, but a few of the most important ones include the real estate agent or broker’s
• Thorough understanding of the area your home is in, the market, and the value of other comparable homes in your area.
• Expert recommendations on pricing your home.
• Wide professional network and marketing tools to help market your home and attract prospective buyers.
• Expertise to guide you through the negotiation process and assist you with all of the paperwork involved with selling your home.
Signing a listing agreement in Pennsylvania:
Your listing agreement is a contract between you and your real estate agent that shows you are giving the agent the right to act on your behalf to market and sell your home. Most listing agreements are standard forms that realtors can access through organizations like the Pennsylvania Association of Realtors.
The listing agreement may have some elements that are particular to your realtor or situation, but most agreements include a few of the same basic items like how much commission you will pay the real estate agent, what type of listing it is, how long the listing will last, the price of the listing, and which items are included and excluded from the listing.
The agreement also spells out the obligations your real estate agent has to you, as well as your obligations about considerations like insurance and disclosures.
Making real estate disclosures in Pennsylvania:
Pennsylvania homeowners looking to sell their homes have to comply with a state law that requires them to present a completed disclosure form to buyers.
The Pennsylvania Real Estate Commission has a form called the Seller’s Property Disclosure Statement, and sellers must fill this out with information about defects in the property or other things the buyer has a right to know. For example, if your home has a problem with the heating or sewage systems, you would have to disclose it on this form. If your home was built before 1978, you also have to disclose information about lead-based paints or other potential environmental hazards.
A licensed real estate agent can walk you through these steps, and make sure you are not leaving out important information or steps that could jeopardize the sale of your home in Pennsylvania.
In Part 2 we’ll go over responding to offers, counteroffers, and purchase agreements, entering escrow, and attending the closing of your Pennsylvania home.
Source: https://www.lawyers.com/legal-info/research/pennsylvania/selling-a-house-in-pennsylvania.html
