If you are selling your home yourself, it is wise to consult a real estate attorney to make sure that you are in compliance with all state and federal requirements. If you have a loan on the property you are selling, it is also wise to have the attorney review your loan documents. In addition, you will need to answer the following questions.

1. How do we set a realistic price?

2. Will we be released from our mortgage obligation if the buyers assume our loan?

3. How much cash will we actually net after our selling expenses?

4. Will we have to pay a prepayment penalty?

5. What are loan discounts and points? Do we have to pay? Why? How much do points cost?

6. What is special financing?

7. How is a property shown to best advantage?

8. How do we know if the buyer is pre-qualified or pre-approved?

9. Does your state have mandatory disclosures and how do we comply?

10. What federal environmental hazards disclosures are required and how do we comply?

11. How do we protect ourselves legally?

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