Selling a house without a realtor can be an overwhelming process. This is especially true when it comes to the paperwork involved.
From legal documents to disclosure forms, several essential documents need to be taken care of before putting your house on the market.
In this comprehensive guide, we will walk you through all the necessary paperwork for selling a house without a realtor like a pro. By following our tips and guidelines, you can ensure a smooth and successful home-selling experience without the help of a real estate agent.
Read on, and let’s get you started!
Property Disclosure Form
The property disclosure form requires you to disclose any known defects or issues with your property, such as structural problems or leaky roofs. Failing to disclose these types of issues could lead to legal trouble down the line.
You must be thorough and honest when filling out this form. Agents from reliable sites like https://www.brothersbuyhomes.com/ will ask for this form from you, so it’s best to have it prepared ahead of time.
Sales Agreement or Purchase Contract
The sales agreement or purchase contract is the official document that outlines the terms and conditions of the sale. It includes information such as the purchase price, financing options, closing date, and other important details.
It’s essential to have a detailed and legally binding sales agreement to protect both the buyer and seller in case of any disputes. You may want to seek legal advice when drafting this document to ensure all necessary information is included.
Earnest Money Agreement
The earnest money agreement is a document that states the buyer’s intention to purchase the property and includes an initial deposit, also known as “earnest money.” This deposit acts as a security for the seller in case the buyer backs out of the sale without any valid reason. Typically, this amount is around 1-2% of the total purchase price and can be negotiated between the buyer and seller.
Title and Deed Documents
The title and deed documents are crucial in proving your ownership of the property. The title document shows that there are no outstanding liens or claims on the property, while the deed is a legal document that transfers ownership from you to the buyer. It’s vital to have these documents ready and accurate to avoid any delays or issues during closing.
A property survey is a detailed map of your property that shows its boundaries, structures, and any encroachments or easements. This document is important for the buyer to understand the exact size and layout of the property they are purchasing.
In some cases, lenders may require a recent survey before approving a mortgage loan. This means that you may need to have a property survey done if your current one is outdated.
Closing Statement or Settlement Statement
The closing statement, also known as a settlement statement, is a detailed breakdown of all the costs and fees associated with selling your house. This includes real estate agent commissions, taxes, and any prorated expenses.
It’s crucial to review this document carefully and ensure that all charges are accurate before signing it at closing.
Know What Paperwork for Selling a House Without a Realtor Is Needed
Knowing the needed paperwork for selling a house without a realtor can help you stay organized and prepared throughout the process. Make sure to have all essential documents ready and accurate to ensure a smooth and successful home-selling experience. Good luck with your home sale!
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