A time may come when you want to sell your home. Different factors can motivate this move. They include downsizing, relocating or upgrading. Consider working with a realtor to get the right buyer.
In addition to this, you should prepare your documents for a smooth process. Below are five documents to have when selling your home.
1. Original purchase agreement
If your home had a previous owner, you need to have the original purchase agreements, including the house deed, when selling it. This agreement includes the home sale transaction details and the terms and conditions of ownership transfer.
2. Mortgage document
If you have not paid off your mortgage, you should have the loan document. Contact your lender to provide you with your payoff statement. This is the amount you need to pay to complete your loan. A mortgage payoff document will help you and your realtor estimate the proceeds accurately at closing.
3. Significant repairs
You should disclose to a buyer any major repairs and maintenance done in the house. It can be hard to recall all repairs. Therefore, find receipts of repairs and your homeowner insurance information. This lets the buyer know which areas to pay attention to.
4. Homeowner association documents
If your home is part of an association, provide the buyer with the homeowner association (HOA) document. This way, they can know what is expected of them once they own the house, and in turn, determine if they can abide by the regulations.
5. Property tax records
It will help to present your most recent property tax record to help the buyer estimate how much they are expected to pay.
Potential buyers can view you as a credible seller when you have the required documents. Get adequate information about the real estate industry and the closing process to make the right calls.