Legal Documentation That You Will Need When You Are In The Process Of Selling Your Home In Houston
Before you list your house for sale, it is important to have all the relevant documents ready. These will include:
- A copy of the sale agreement when you purchased the property
- Information on your mortgage
- A copy of the title and deed report
- Tax information about your property, which will include your most current tax bills
- Homeowners insurance information
- Survey reports (if available)
If you are currently renting the property out to tenants, you will also need to supply copies of the existing lease agreement. It is also a good idea to obtain a copy of a bank statement that shows the security deposit that the tenant made. Finally, if the house comes with a warranty and you plan to pass it down to a buyer, you will also need to supply this paperwork. You should also collect any other warranty information that is applicable to appliances that will be included in the sale. Here is the list of the most important documentation that is required when selling a home:
- Information on your mortgage loan
- The final sale and purchase agreement
- Title report
- Tax information associated with the property, which needs to include your latest tax statement
- The lease agreement if the property is rented out to tenants
If the house was built before 1978, you are required to supply a lead-based paint disclosure with your sales documents. The buyer is required to sign the statement that acknowledges this disclosure.
To sell the property once a buyer is secured, will also involve transferring the deed. This step will involve hiring an attorney. The attorney provides the service of preparing a new deed along with any other applicable legal documentation for closing. In most cases, a real-estate closing is held in the office of the attorney, and your lawyer will make sure the documents are signed along with providing the right notary public that will notarize all the legal documentation and be present as a witness. The deed will formally transfer the ownership of the property from the seller to the buyer.
What is a deed? Deed’s are legal documents that are filed with a county, which will document that you are the owner of the property. When you sell a property, the new buyer is required to sign this deed, which will then be recorded officially by your county.
The sale transaction might also require affidavits. These are sworn statements that are legal documents that might be required for either party. This can include an affidavit which includes information that you haven’t incurred liens on the property.
If you will need to live in the home over a period of days or weeks after the sale, then you can make use of a rider that outlines these specific rights. A rider is basically explained as a type of amendment to a standard form of a sales agreement that might specify whether the purchaser of the property will be able to take possession after the closing when you will plan to maintain possession for a period of 30 days after closing, or any other similar arrangement.
It is essential to submit the paperwork that is required to ensure the sale goes off smoothly.