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Bruce Adams
(480) 766-1592 Office
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Seller FAQ

Common Seller Questions

Can I take the buyers to court if they back out of the purchase contract?

The short answer is no. The seller would receive the buyer's earnest money rather than be able to sue the buyer.

Do I have to tell buyers about a difficult neighbor?

Maybe, this really depends on the situation. If the neighbor is doing something illegal that could affect your property, the seller should likely disclose it. Conversely, if the neighbor is unfriendly, annoying, or just hard to deal with, disclosure may not be necessary.

Do I have to disclose that someone died in the house?

No. By law, sellers are not obligated to disclose that the property is or has been a site of natural death, suicide, homicide, or any other crime classified as a felony.

The appraisal comes in low. Am I locked into the sales price?

No, the buyer has five days after notice of the appraised value to renegotiate the purchase price with the seller. If the buyer and seller cannot renegotiate the purchase price to the appraised value within the 5-day period, the buyer can elect to cancel the contract and receive the earnest money back.

Can I counter two offers at the same time?

Yes. There is a multiple counter offer form that allows the seller to respond to each offer.

Can I sell my house but still live in it for a while after closing?

Yes, it's possible. This would be called a post-possession, and depending on the duration of the post-possession, a post-possession agreement or a lease agreement would be agreed to and executed by both parties.

My roof is leaking, and I tell my realtor not to tell anyone that the ceiling has just been painted to cover up the leak. What is the realtor required to do in this situation?

The realtor must disclose the roof leak to the buyer. The realtor is not able to keep this a "secret."

I am under contract with a buyer to sell my home. Negotiations have been difficult, and now the buyer is asking for extensive repairs. Can I elect to cancel the contract and not sell to this buyer?

The short answer is no. The buyer needs to find the seller in breach of contract in order to cancel. Also, the seller may elect not to do any repairs, potentially causing the buyer to elect to cancel the contract.

Can the seller originate an offer to a buyer.

Yes. The seller would use the standard purchase contract and additional clause addendum to the buyer to accept, counter or reject.

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Bruce Adams
(480) 766-1592
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HomeSmart
2680 S. Val Vista Drive, Suite 1
Gilbert, AZ 85295

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