What to Prepare Before Discussing a Property Sale With Your Attorney

By Cindy LaDuke | Cindy's Realty Group by eXp Realty

If a legal matter involves a house, your attorney will ask about the property sooner or later. A little preparation makes that meeting shorter and more useful. It also helps me give you better real estate information when you are ready.

I'm a real estate broker, not an attorney. This article covers the property side. Anything about your rights, your deadlines or who may sign belongs with your attorney.

1. Gather the basic property facts

 Write down what you know. It's fine to leave blanks.

• The property address and the county.
• Who is living there now: you, a family member, a tenant, or no one.
• Whether there is a mortgage or home equity loan, and roughly what is owed.
• Whether there is a homeowners association.
• Whether property taxes and insurance are current.
• Who has keys and access.

2. Note the condition honestly

Condition affects price and timing more than most people expect.

• What has been repaired or replaced recently? Roof, heating and air, water heater, flooring.
• What do you already know is wrong? Leaks, foundation cracks, old wiring, pests.
• Is the home full of belongings that will need to be sorted or removed?
• Is the home vacant? If so, are utilities on and is someone checking on it?

A few phone photos of each room and the outside are enough for a first conversation.

3. Think through your goals and timing

Your attorney and I will both ask what you want to happen. You don't need a final answer, but it helps to think about these:

• Do you want to sell, keep the property, or are you not sure yet?
• Is there a date that matters to you, such as a move, a school year, or a payment you can't keep making?
• If the home sells, where will the people living there go?
• Would you rather sell as-is, or make repairs to aim for a higher price?

4. List the professionals already involved

Bring names and contact information for anyone already working on the matter: an attorney, a lender or loan servicer, an accountant, a property manager, an insurance agent, or a real estate agent. If a listing agreement is already signed with another agent, tell both your attorney and any new agent you speak with.

5. Documents to discuss directly with your attorney

These go to your attorney, not to me and not through a website form. Your attorney will tell you which ones matter and who else should see them.

• The deed, and any title insurance policy from when the property was bought.
• Mortgage statements and any notices from the lender.
• A will, trust, or court papers that mention the property.
• Any separation agreement, order or settlement that mentions the property.
• Leases, if anyone rents the property.
• Homeowners association notices, tax bills and insurance declarations.
• Any existing listing agreement or purchase contract.

6. Real estate questions worth asking

These are good questions for a broker. I'm glad to answer them for a property in North Georgia or North Alabama.

• What is the home likely to sell for today, as it is?
• Which repairs would change the price, and which would not?
• How long are similar homes taking to sell in this area?
• What will selling cost, and what might the owner net before any payoff?
• Can the property be shown while someone is living there?
• If the owner lives out of state, how are access, repairs and signing handled?

7. A market analysis is not an appraisal

When I estimate value, I prepare a comparative market analysis. It compares your property with similar homes that recently sold or are for sale nearby, and it gives a likely price range. It is a broker's opinion.

A formal appraisal is a different document, prepared by a licensed appraiser. Some legal matters call for one. Ask your attorney which you need. Sometimes the answer is both.

8. Questions that belong to your attorney

I will always send these back to your attorney:

• Who has the legal authority to sell or sign?
• Does a court or another person need to approve the sale?
• How must the money from the sale be held or divided?
• What deadlines apply to me?
• What are the tax consequences? Your attorney may also point you to a tax adviser.

How to contact me

When you want to talk about the property, call or text me at 678-650-1425 or email cindy@cindysrealtygroup.com. Tell me the city or county, the state, and what you need. You don't have to explain your legal situation, and I won't ask you to.

I work in North Georgia, including Hall, Gwinnett, Forsyth and Fulton counties, and in North Alabama, including Madison County, Huntsville and Owens Cross Roads. I work in English and Spanish.

More help: Attorney resources for Georgia and Alabama property owners · Home value review · Answers and checklists

This article is general real estate information, not legal, tax or financial advice. Cindy LaDuke is an Associate Broker and REALTOR® with Cindy's Realty Group by eXp Realty, licensed in Georgia and Alabama. She is not an attorney.