From contracting with an wage-earner to getting to latter day, selling a house involves a lot of paperwork, unscientific at well-nigh 180 sheets requite or take in some states. The documents needed to sell a house reflect every step in the home selling process, and here we walk you through what to expect from start to finish.
Note: The paperwork required for your home sale can vary by state and county, so trammels to see what’s required for your location. This vendible is intended for educational purposes only, and we recommend consulting with your real manor wage-earner and a real manor shyster for your particular situation.
Documents needed surpassing listing your home
Original sales contract
The original sales contract is the try-on you made with the previous owner of your home when you bought it. This contract outlines the terms of the purchase and maps out the “who”, “what”, “where”, “when”, and “why” of the transaction. This way, the proprietrix makes no mistake well-nigh who has previously owned the house, and the terms and conditions under which it was transferred to a new owner. The sales contract notes the price at which the house was sold, and elaborates on any disclosures well-nigh the property that were made surpassing the sale.
Appraisal from when you bought your home
An appraisal is a professional towage of the fair market value of your home that determines how much a mortgage lender will lend to a buyer. To go forward with the sale, you’ll need a trademark new valuation (unless you’re working with a mazuma buyer who doesn’t need financing, which we’ll swoop into later).
You need to provide the proprietrix with the valuation report from the time you purchased your home, as well as any documented updates since the original valuation (such as in the specimen of a refinance).
Mortgage statement (payoff amount)
If you’re selling before you pay off your current mortgage in full, contact your lender or servicer and request a statement showing your payoff amount. The payoff value is the total you’ll have to pay to satisfy the terms of your mortgage loan, including any interest you owe until the day you plan to pay your loan in full.
The payoff value is not the same as your current balance, which will towards on your most recent worth statement and may not include interest. Your lender is required to provide your payoff value to you, so don’t be shy well-nigh asking. With that information, you’ll be worldly-wise to summate your unscientific home sale proceeds.
Homeowners insurance records
Before you sell your home, you want to be transparent with your proprietrix well-nigh any damages and repairs made to your home. You’ll need to provide the proprietrix with proof of your homeowners insurance information, as well as a claims report or a list of all the claims on your home since the time of purchase.
This will moreover requite the proprietrix an idea of how much their homeowners insurance will forfeit when they move in.
Homeowners Association (HOA) documents
If you want to sell property that is part of a development, odds are you’re once part of a Homeowners Association (HOA) that runs the whole thing.
The HOA often has unrepealable guidelines well-nigh the visitation of your home, what you pay for assessments of your property, and whether you can rent your home to other parties.
These are all key pieces of information the proprietrix will need to know surpassing they make a purchase. They will need the pursuit governing HOA documents:
- Articles of incorporation
- Bylaws
- Rules and regulations
- Homeowners dues value statement
- Copies of the minutes from the Association’s meetings of the past two years
- The Declaration of Covenants, Conditions and Restrictions
Home repair and maintenance records
Home repair and maintenance records are nonflexible vestige of all that work you’ve washed-up to your home while you’ve proudly owned it. These records moreover let the buyers know what needs firsthand sustentation when they move in. Your home repair and maintenance records should contain the following:
- Maintenance receipts such as roof repairs, chimney cleanings, utilization warranty plans, etc.
- Dated records of your most recent painting, gutter cleanings, window washings
- Utility maps for your electric and gas systems
