As a seller, it is your responsibility to prepare and be aware of what forms are needed to legitimately sell your home. With or without a listing agent, it is mandatory to prioritize these as much as possible to prevent future mix-ups and conflicts with the client. To further elaborate, here are some needed documentations you must know in order to sell your home.
Original Sales Contract
This is one of the most crucial documents the seller should have given the fact that this is actually the proof that the house is indeed in the possession of the seller. An original sales contract is the proof of agreement between the previous owner at the time it was bought.
This usually includes the terms of the purchase which will guarantee the potential buyer that the house is indeed legally owned by the seller. Apart from these, this also involves the original price at which the house was sold and further explains property disclosures made before the sale.
Homeowners Insurance Record
Prior to selling the house, any kind of damages and repairs made to the home must be openly conversed with the buyer. The seller must provide the buyer an evidence of homeowners insurance information and a list of all the claims on the house since the day it was purchased. This will also help the buyer to formulate an idea regarding the cost of their potential home owner insurance once they decided to move.
Home Repair And Maintenance Records
These types of records will serve as proof regarding all of the inclusions the seller has made on his own for the potential home owner to have. These will also serve as reference for the client about what they need to monitor inside the house that requires extra attention and care.
A home repair and maintenance records should include maintenance receipts, dated records of refurbishments, and a utility map for electric and gas systems. This way, the client would be well aware of the house and would prevent complaints in the future regarding interior dilemmas.
Seller’s Net Sheet
Apart from the documentations about the home itself, the seller should also prioritize his or her net sheet. A seller’s net sheet is an organizational worksheet that his or her listing agent will fill out to know how much would be given back from the home sale. This usually includes taxes, the real estate agent’s commission, remaining mortgage, and escrow fees. The net sheet can come more than once during the course of transaction, usually after receiving an offer, secondary to changes in prices at the market.
Mandatory Disclosures
Every transaction has a mandatory disclosure since this create transparency and builds rapport with the client. When it comes to selling a house, establishing what the client needs to know about the home they’re buying is an important factor. The seller is required to follow a mandatory disclosure laws and to let the client know any disclaimers and precautions about the property prior to marking it on sale.
Some of the mandatory disclosures included are environmental hazards, water or plumbing system damage, malfunctioning appliances (if impossible to get rid of), neighbourhood disturbances, conflicts about property lines and the likes. Keep these property documents in mind before buying or selling a home.
House Selling Documents Conclusion
Overall, there are a lot of documentations needed before selling your home. This starts before you launch the sale, during the time of listing, when an house purchase offer has been made, between contract and close and finally ending at closing the deal. However, stated above are the essential documentations for selling property you may need in order to get your feet on the right track. We buy houses so you can rest assured all documents are taken care of on both our ends.
