Legal Documents that are Essential for Selling a Home for Cash
Selling a house for cash is a legal transaction that requires the cash home buyer and seller to adhere to the legal requirements of your state. Here are some of the legal documents that are essential for selling a home for cash.
Set the appropriate price for the house after getting advice from home inspector. You need a residential property disclosure form to fill in the repairs that a home requires and the condition that it is in at that time.
Some homes in the past were built by lead-based Paint therefore provide the winning statement to the buyer about it. Some states require you to have a document for this to that can be printed from the website of the relevant authorities.
A sale or purchase of a contract should be available to protect the interests of both parties and stipulate their responsibilities. these fill-in real estate sales contracts are sold at legal print shops and specific office supply stores. Discuss about the details of the offer to purchase document with them cash home buyers to ensure that you are on the same page before you sign it.
The buyer needs an original or current survey because it will show them a graphical representation of the boundaries of your property and the things that you own on that land. The buyer will find out of your boundaries extend into the property of your neighbor so that that the future buyer has proof if future land issues arise.
The buyer requires a deed of ownership and transfer from you. The county clerk or recorder’s office gave you the transfer and disclosure forms as proof that you own the home. You can get a certified copy from the county land records office when selling the home. The transfer and disclosure forms have personal information about the buyer, seller and the property such as its value, property tax number and the taxes that you are liable to pay on the sale on the transfer form.
You should have a private mortgage form. Buy from legal print shops and office supply stores the fill-in private mortgage forms. The forms must have information about the total amount of the mortgage, number of payments, payment due date, frequency and mount, interest rate, late penalties, how the payments are made through mailed check to the home address, street address of the home and property tax identification number and more. The cash home buyer or their next client will take care of the remaining mortgage payable hence they need these documents.