Oklahoma Real Estate Contract & Forms for Selling Your Home
Oklahoma is part of a region commonly referred to as the “American Heartland.” Also known as the “Native America” and the “Sooner State,” Oklahoma got its name from the Choctaw words okla that means people and homma that means red. It is also home to the third largest American Indian population.
The state’s housing market remains healthy with many affordable homes available. Its capital, Oklahoma City, is actually one of five cities in the United States that has the most affordable housing markets. Sellers here are willing to negotiate their home price and pay the closing costs.
Why sell on your own?
Homeowners can gain several benefits if they sell their house by themselves. The foremost advantage is being able to save thousands of dollars in commissions and other expenses. Selling your home by yourself also means that you have total control over the entire process. You can negotiate your home price and adjust it according to needs of your buyer. You have the freedom to decide which is best in an effort to sell your home fast.
There’s no need to be apprehensive. Have the right business attitude and if possible, cut emotional ties with your home as soon as you decide to let go of it. Sometimes, we can’t keep all the things we greatly value in life. We need change and we need to move on. Just be confident and consult your real estate lawyer as well as your financial advisor to make sure that your home selling process goes on smoothly.
Keep in mind these steps to guide you on your endeavor. Make your home attractive to buyers by cleaning it inside and out, making it smell good and removing all clutter. Marketing your home aggressively will ensure a speedy sale. Use the Internet and your personal connections. Offer a fair market price to your potential buyers and provide incentives as well like paying for the closing costs and including some appliances or fixtures in the sale.
What real estate forms are needed?
The real estate forms play a very important role in the home selling process. They ensure that the transaction is legal and binding. These forms can either be in standard format that can be used in different states or specific only in certain states. It is, therefore, your duty as the seller to find out the right sale forms required.
The real estate sales agreement is the most vital of all the forms. This is sometimes referred to as the purchase agreement, sales agreement or purchase offer. The contract usually details the intention of the buyer to purchase a home as well as other terms and conditions. As required by law, it should always be in written form and signed by the buyer and the seller to be considered legal.
Disclosure statements should be provided by the seller to the potential buyer. These include the property disclosure form that states the legal description of the house, its condition, repairs previously done and other defects that still need fixing. The lead paint disclosure form is another requirement if the house being sold was constructed before 1978. This is to inform the buyer of the hazards posed by the use of lead paint. Disclosure forms, however, do not apply to newly built homes.
The escrow agreement may be made by both parties to decide on who should hold the down payment or sometimes called earnest deposit. An escrow agent can either be the seller’s lawyer, the buyer’s agent or the title company.
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