What Paperwork Do I Need to Sell My House? A home sale requires a large amount of important paperwork. The seller is responsible for providing and completing specific types of documentation when selling a home. A homeowner who fails to fill out or furnish the required legal paperwork can lose a buyer or face legal action after the sale is completed. Function The variety of paperwork needed to sell your home serves different purposes. The deed, or instrument used to show your legal ownership of a home, contains the property description. A legal property description is the dimensions of your property described in words; a copy is needed for legal documents used in the sale process, like a sales contract. Proof that liens and bills due on the home are paid or current is required for a home sale, and documentation of outstanding liens on the home must be supplied to the parties involved. A general disclosure of the propertys condition is required in most areas. Types Property tax receipts serve as proof the taxes on your home were paid. Receipts for special charges, like a fee to use the public sewer or for garbage collection, are required for to sell a home. A statement of your utility account for water service should be obtained from the providing company. A financial disclosure statement, which lists all the liens on your home, informs the parties involved about the liabilities currently attached to the property. The payment history from your homeowners insurance policy can be required for the sale. A general disclosure statement will list all special restrictions, problems or liabilities with your home, including a rental agreement with a current tenant. No Matches Found. Please try your search again. Effects Documentation of outstanding liens, like mortgage loans, allows the real estate attorney or professionals involved to arrange a final payoff of the lien at the time of the homes sale. Receipts for tax bills prove the liens were paid, and the new homeowner will not be responsible for the charges. The current status of water accounts and special assessments allows you to determine what portions of the monthly bill the buyer is liable for at the time of sale. The general disclosure to the buyer prevents you from being sued later about an issue that existed at the time of sale, like a leaky roof. Benefits Financial disclosures help you settle all owed debts on the house by the time of sale, avoiding the possibility of a lawsuit from a buyer or creditor later on. Presenting tax receipts proves you paid the property tax bills in full and are not liable for new charges. Proof of homeowners insurance can allow your buyer to obtain a new policy more easily and prevent your deal from stalling. Special assessments and water bills can be prorated, meaning you are only responsible for the portion of the bill for the sale month for the days you were still the owner. Providing copies of current bills ensures you will not pay for services you did not use. Misconceptions You do not need to have your original deed to sell the home. A certified deed copy can be obtained from the county recorders office where the property is located for a small fee, such as $5. The certified copy can service as the official deed for your home in a sale. A file of your original mortgage loan documents can be obtained from the county recorders office for the financial disclosure, so if you have misplaced the original documents, a legal copy is available for the attorney to view. You can obtain a certified copy of the loan documents from the county recorders office if you are not using an attorney. Call us For Booking Any Kind of Property: - 9910992321,9910992322,07838849626,09899111445. FOR Sale,Purchase,Booking of Plot and flats in The All Delhi NCR Like...... Delhi, Noida, Kundli, Sonipat, Gurgaon, Tronica city Ghaziabad, UP, Haryana https://facebook/profile.php?id=337736819634313 sahyogproperties
Posted on: Sun, 20 Jul 2014 11:40:11 +0000
Trending Topics
Recently Viewed Topics
© 2015