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Documents Needed to Sell Your Home

Thinking about selling your home? For a fast and easy transaction consider having the documents listed below at your disposal. Many real estate agents have their own preference for what is needed before listing a home but the most common include the following:

HOA Documents – Home Owner’s Association

When preparing to sell your home, it is important to educate the buyer of their potential Home Owners Association (HOA) bylaws so any transaction can be completed in accordance with the rules and regulations. Informing your HOA that you are moving will also provide a seamless transition so the new homeowner is aware of any new changes or new fees. While HOA requirements can vary from state to state, here in Alabama there are no document fees for the transition of a seller to the new homeowner.

Payoff Information

If your home mortgage is not paid off yet it is crucial that you provide your agent with the details of what still is still owed, so the title transfer can be seamless. You can do this by requesting a statement from your lender or servicer. This information will also be beneficial for your real estate agent to develop a listing price, so they can ensure you are able to pay off the rest of the mortgage payment with the amount received after the sale. 

Manuals, Warranty, and Maintenance Information

While this isn’t necessary, it is always helpful to include the manuals of any appliances that will be sold with the home. Not only does this inform the new homeowner of the shape the appliances are in, but can be helpful for the new homeowner if there are issues in the future. This can include but not limited to refrigerators, dishwashers, and washers & dryers. Plus, keeping receipts for any repairs or upgrades for your home will benefit your asking price to potential home buyers. 

Termite Bond

After selling your home there most likely will be a termite inspection before the new homeowner moves in. If you already have a termite bond this acts like insurance in case the new inspection foresees any issues. If for some reason the new inspection finds that your home has termites, your bond may cover any costs associated with the treatment depending on the bond you have purchased. It’s important to inform your realtor if you currently have a bond, if it is transferable to the new home owner and who that bond is with. 

Property Tax Information

While most real estate agents will pull this information before meeting with you, it is still helpful to have an idea how much you pay in taxes annually. Property tax information will be helpful for potential buyers so they know the amount of taxes that would be due each year on the house, and the dimensions of the lot it sits on. It will also contain information on the type of structures or additions that have been added to the property. Lastly, if your property tax has had any exemptions or discounts, it may also be helpful to disclose this to the agent as potential buyers may not realize that their taxes could be higher if they do not qualify for the same exemptions. 

Most Recent Appraisal of Property

Even though your home will most likely have an appraisal done after your home is under contract to sell, it would be helpful to share any past appraisals with your new listing agent when preparing to sell your home. Why do you need this? Not only does it help your real estate agent determine what your home is worth or what the listing price should be, but it also helps them understand what else in your home has value. 

Surveys

Most important for properties with acreage, surveys are still essential for your home sale as it provides a bigger picture for buyers as to what they are actually buying. A survey will include all the boundary lines around your fence, driveway, and the rest of your land. The survey will include information about property lines, if there are any easements, or agreements that let someone else use your land. 

Home Seller Warranty

This is the seller’s choice, but this is a specific warranty for any home seller that is wanting financial protection from any issues that may arise during the home selling process. This can include problems with major appliances or systems before the house is actually closed. Informing your real estate agent is recommended so they can ensure the issue is solved correctly. 

While all of this information can seem intimidating, it is important to note that the right agent will help you every step of the way and ensure your house sale will be as quick and simple as possible. Even if you are not ready to list your home for sale, having these documents organized and in a safe space will eliminate stress when the time arrives. Here at Amanda Howard Sotheby’s International Realty, we pride ourselves in helping our clients during the home selling process – that doesn’t just start or end with the transaction. If you have any questions, we are always here to guide you through the process and answer any concerns you may have. 

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