Kentucky Real Estate Contract & Forms for Selling Your Home
Selling a home in Kentucky
Kentucky is referred to as the “Bluegrass” state because of the presence of bluegrass in the lawns and pastures across the state. It is the 37 the largest state with diverse environments. Residents of Kentucky are proud of their vibrant communities and are dedicated to improving the quality of life and maintaining economic growth. In fact, in 2004, two of Kentucky’s urban areas got citations for being an ideal place to live in. Louisville was ranked as one of the most livable mid-sized cities while Lexington got a five-star rating for quality of life. The affordability of housing in the state is one of its major attractions. Home prices in Kentucky are said to be lower than the national average.
Do your research
As in being involved in any major project, research is always vital. When you decide to sell your home, you need to do you homework right away. Research on the proper procedures in selling a home, the real estate market in your area and the legal documents needed in the transaction. Get as much information as you can to prepare yourself for the work that you are about to face. Keep a positive attitude and do your best not to be emotional in letting go of your most valued home.
The real estate sale forms should be a priority. Initially check from websites the required forms in your state and verify them later when consulting your lawyer to be sure that you obtain and make the necessary forms. There are standard forms that can be used in many states while there are certain states that required their specific forms.
Purchase agreement normally refers to the contract that binds both the seller and the buyer. It stipulates the buyer’s intention to purchase a home with a specified amount and the acceptance of the terms and conditions by the seller. This document must be written and signed by both parties to be valid.
Counter offer refers to a new offer by the seller in case he or she finds the purchase offer insufficient. The counter offer form states the seller’s home price as well as other terms and contingencies.
Property disclosure statement details the legal description of the home being sold. It should include the condition and age of the home, its location, the repairs done and the defects in specified parts of the house. This has to be furnished to the buyer before the signing of the contract.
Lead paint disclosure refers to the information on the lead paint hazards that may be present in the home for sale. This is usually required from homes built before 1978.
Stage your home
Staging your home and presentation is key to a fast home sale. Just like in promoting any product, how you package your home to your potential buyers is vital. This means providing that curb appeal, cleaning and repainting, organizing and removing clutter, fixing parts that are defective and making your home smell good every day.
Once you’re done with the general cleaning process, take photos of the different parts of your home and include them in your brochures or leaflets and in web sites that offer free listing of homes for sale. Or if you can create your own web site, you have more freedom to include as many photos.
Do reply to phone queries as soon as you can. You can then ask them about their financial capabilities, if they have been pre-qualified for a loan or if their plan of buying a home is dependent on the sale of their own home.