When You Sell Your Columbia SC Home: Terms To Understand

Most people don’t realize that it takes a lot more know-how to sell your Columbia SC home than just finding a buyer, and in order to sell a house in this difficult economy, there is a lot more to know than during good times. Most people don’t even think about selling a home they just bought, especially if it’s the house where they live.

Best ways to sell your Columbia SC home

Learning the best ways to sell your Columbia SC home is often times as simple as learning some of the real estate terminology. Whenever you buy or sell your Columbia SC home, having a few real estate terms handy will help you.

Let’s start with the word “agent”

A real estate agent works for a real estate broker, the one who has the legal responsibility to represent you as a client. The office broker is the person who has a fiduciary duty to you and all his or her agents must meet that standard of responsibility, too.

Commission When You Sell Your Columbia SC Home

Next, let’s look at the phrase “Exclusive Right To Sell Listing Agreement”: Chances are, you will be signing one of these agreements to give your broker the right to collect a commission when you sell your Columbia SC home. Then your broker splits his or her commission with any other agents involved in your sale, like a buyer’s agent, for example.

Sales Agreement to Sell Your Columbia SC Home

Finally, we come to the term “Purchase Agreement,” “Sales Agreement” or “Sales Contract” – this is the form on which a buyer makes an offer to purchase your house. This form is something you absolutely need to have on hand or make sure your agent provides.

Obviously there are many other things you need to be aware of when you decide to sell your Columbia SC home, but these are just a few of the basics to get you started. You’ll find many other tips to help you buy or sell your Columbia SC home under the categories to your right.