Selling your house comes with many challenges including sorting out paperwork which can be very overwhelming. Before you can sell your home, you need to provide a lot of paperwork and documents and continue reading to know what these documents are.
Documents needed before listing your home
This is the agreement you made with the former owner of the house before you bought it. This contract contains everything there is to know about the transaction. It ensures that the buyer knows about the terms and conditions attached to the house before they buy it.
- Appraisal from when you bought your home
This is a professional assessment of the competitive market value of your home that helps a mortgage lender decide how much to lend a buyer. You need to provide an appraisal to go ahead with the sale unless you’re dealing with a cash house buyer who doesn’t need financing.
- Mortgage statement (payoff amount)
If you’re yet to pay off your mortgage before selling your house, you should contact your lender to provide a statement showing how much you’ve paid and how much you owe. Your lender is obligated to provide your payoff amount so you can be able to go ahead with your home sale.
- Homeowners insurance records
You need to provide the buyer with proofs and records about the damages and repairs made to your home. You need to provide proof of your homeowner’s insurance information and also a list of all the claims on your home since you bought it.
- Home repair and maintenance records
These are records of all the renovations you’ve made to your home. This document helps your buyer know the parts of the house that needs more attention or that needs to be handled more delicately.
- Receipts for capital improvements
Capital improvements include major changes or additions to the house like a swimming pool or a new roof installation. They reduce the capital gain taxes on your home by increasing the value of the home. You need to provide documents that show that there are such improvements.
Buyers want to know what appliances are still functioning before they move into the house. So you need to provide appliance receipts, manuals, and warranties that let the buyer know what’s available for them at the house and what’s not. The buyers will need manuals for things like:
- Washers and dryers
- Garbage compactor/disposals
- Past utility bills
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