Be Prepared with the Paperwork
"What you see is what you get" might apply to the carpets or the kitchen cabinets, but when you list your home for sale, buyers will expect to know about some things they cannot see.
Missing documentation can delay or even halt a sale, so start gathering paperwork just as soon as you list your house for sale… or even sooner.
Begin with the title. Your agent should get what is known as a "listing kit" from the title company you've chosen to work with. That gives some vital information, but recent changes in law prevent it from offering everything. If you've had any kind of legal entanglements since you purchased the house, let your agent know.
He or she can then request a preliminary title report so you can see if there are issues to be handled prior to closing. (Yes, there is a fee, but it will only apply if you do not sell the house.) These issues could include:
- A tax lien
- A judgment lien
- Child support issues
- Unresolved issues from a divorce
- Property line disputes
- A Local Improvement District lien
- Bankruptcy issues
- A mistake
As you see from the last item, you could run into problems even if you've had no legal entanglements. Human error is an issue we all contend with and sometimes it takes a good deal of effort to correct.
Find out everything of record regarding your house and get any problems handled right away. When you offer your home for sale you could get a buyer who wants to close in 10 days!
Next are the permits. Depending on where you live and the age of your home you may need to provide documentation for:
- Building location permits
- Building permits (for each structure and/or remodel)
- Septic permit, if applicable
- Water rights, if applicable
If you live in a subdivision you may have Covenants, Conditions, and Restrictions on use of your home and property. Be sure your agent has a copy of these, as they make a big difference to some buyers. Also include information on all association fees and any account transfer fees the new buyer will be required to pay.
Your buyer will also want to know the cost of City services such as water, sewer, and garbage. Give that information to your agent at the time you list your house for sale.
When you have all your paperwork in order well ahead of time you'll save yourself, your agent, and your buyer from unnecessary stress… and you'll speed your closing.
Click here to contact me if you have any questions.
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