Vermont sellers will be confronted with dozens of documents in the course of selling their home, condo, or real estate. I’ve provided samples of some of these contracts to review. If you have any questions, feel free to contact me or your real estate lawyer.
- The primary document to getting your home on the market is the Exclusive Right to Market Contract. This contract will spell out the terms and conditions by which you and your Realtor will get your home sold. It will detail the commission fee, the length of the contract, the listed price of the property, among other items.
- I’ll also provide you with a blank copy of Vermont Association of Realtors Seller Property Information Report (SPIR). In this document you will disclose pertinent information of interest to the buyer. I also ask sellers to attach an additional document describing any improvements they’ve made to the home over the course of their ownership. The question often arises “Do I need to disclose….” My answer is “Yes.” If you think the buyer of your home or condo might want to know, disclose it now and save the hassle later. Buyers appreciate sellers who are candid. If you think your home or condo is haunted or if there has been a death on the property, these items should also be disclosed. Disclose anything your buyers might want to know. You, and your agent, are obligated to disclose any material defects to the property.
- If your home or condo was built prior to 1978, you will need to provide the buyer a lead disclosure statements in addition to the SPIR. Vermont has its documents and and the feds have their documents: VT Association of Realtors Lead Disclosure.
- Eventually you’ll sign the Vermont Association of Realtors Purchase and Sale Contract which will spell out the terms you and the buyer have agreed on to transfer the property. There are often addenda attached to this contract that detail contingencies for inspections, financing, and other items.
- There may be other disclosures such as the Common Property Interest Addendum or an addendum to comply with Meghan’s law if you know of convicted sex offenders living in the neighborhood.