Top 10 Mistakes Made by For Sale By Owners (FSBO’s)
• Accepting the buyer with the highest offer without regard to the other contractual terms.
• Not properly handling multiple offer situations with multiple buyers.
• Not properly handling back-up offers.
• Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
• Entering into an agreement before verifying the buyer’s financial ability to close escrow.
• Not disclosing known material facts affecting the value or desirability of the property.
• Not providing the buyer with legally required disclosures.
• Not obtaining the buyer’s written acknowledgement of disclosures.
• Not considering whether to require the buyer to remove contingencies.
• Not excluding items from the sale that the seller wants to keep.
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