Selling A Home

There may be risks for both the buyer and seller in a contract sale. The main risk for the seller, as with any lender, is that the new buyer will default on the loan. This forces the seller to regain possession of the property through foreclosure of other legal means and put it back on the market. Possible risks for the buyer may include the seller's problems with tax liens or judgments, or the seller's inability to provide a clear title. Having attorneys for both parties assist with the transaction can protect the interests of both sides and minimize any risk. When buying or selling a home, consult a real estate agent who is a REALTOR, a member of the NATIONAL ASSOCIATION OF REALTORS, for professional advice and service.