Prepare Fact Sheets

Prospects seldom take notes as they are being shown around. They may be reluctant to appear too interested, or they may find writing distracts them from looking. But they rarely refuse a printed fact sheet.

These fact sheets are important; they tell at a glance what you're selling, highlight the best points, and can later refresh the memories of lookers who may have seen a dozen other offerings. See the box below for a list of what to include.

In addition, inform potential buyers orally about known problems or defects (see the discussion in Chapter 16). You're legally obliged to, and failing to do so could cause you to lose a sale or become entangled in a lawsuit. Find out what disclosures and forms are required from sellers in your state. Make sure you know your responsibilities with regard to lead-based paint, radon and asbestos. Make sure that professionals you hire, such as a home inspector or lawyer, carry

WHAT THEY NEED TO KNOW

When preparing a fact sheet for prospec

■ square footage

tive buyers, include the items described

■ room dimensions

below and type it, preferably on a single

■ mechanical systems (air-conditioning,

page. Add a statement that the "informa

heat, and so on)

tion is not guaranteed but deemed accurate

■ appliances that go with the home

to the best of my knowledge." You may

■ amenities

want to include the appraised value and a

■ lot size

drawing of the layout. For added impact,

■ proximity to schools, public

attach a snapshot of the place—one that

transportation, shopping and such

shows it to advantage in its best season

of the year. Make copies of your fact sheet

Financial Information

so you can give one to each prospect.

■ the price

■ annual taxes

Relevant Information

■ annual maintenance and utility costs

About the Property

■ any relevant information about the

■ age

current mortgage, if it's assumable,

■ construction

and seller-financing help, if any

errors-and-omissions or professional liability insurance.

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