The process of selling a house without a realtor is called For Sale by Owner (FSBO). While selling your house without the help of a professional may save you some money in commissions, it also means that you will be responsible for all aspects of the sale, from marketing and showings to negotiating with buyers and handling paperwork.
If you’re selling your house without a realtor, you’ll need to take care of a few key paperwork items yourself. Here’s what you’ll need:
The Deed
The first step in selling your house without a realtor is to transfer the deed into your name. The deed is a legal document that proves you own the property. You can get a deed from your local county recorder’s office or from the previous owner of the property. Once you have the deed, you will need to fill out a real estate contract and have it signed by both parties. You may also ask a real estate attorney to get into details about the deed.
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Purchase Agreement
A purchase agreement is a legally binding contract between you and the buyer that outlines the terms of the sale. This document will include information such as the purchase price, earnest money deposit, contingencies, and closing date.
Sales Contract
One of the most important documents in the home selling process and home buying process is the Sales Contract, which outlines the terms of the sale. This document should include the purchase price, the date of sale, and any conditions that must be met before the sale is final. During a home sale, a sales contract is one of the legal documents that are important.
Closing Statement
When you sell your house without realtors or real estate agents. There are a few documents you’ll need to prepare in order to close the deal. The most important of these is the closing statement. This statement details the final sale price of the home and outlines any outstanding debts or liens that need to be paid off. You’ll also need to provide proof of ownership, typically in the form of a deed or title insurance policy. And finally, you’ll need to disclose any material defects with the property that could affect its value. Furthermore, verify all the documents and some details in a title company.
Disclosure Form
This form is designed to inform the buyer of any material defects in the property that could affect its value or livability. Disclosure forms vary from state to state. So be sure to check with your local laws to determine what needs to be included. In addition, you’ll also need to provide any relevant paperwork relating to mortgages or other encumbrances on the property.
Mortgage Note
A mortgage note is one of the documents that you need when selling your house without a realtor or real estate agent. If you have a mortgage on the property you’re selling, you’ll need to provide the buyer with a mortgage statement. This document is an agreement between the borrower and the lender that outlines the terms of the mortgage loan, such as the interest rate, monthly payments, and maturity date. The buyer will need this information in order to assume your mortgage.
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Property Tax
In a real estate transaction where you are selling your house without the help of real estate agents or realtors, you’ll need to be aware of a few things that are typically handled by agents. Perhaps most importantly, you’ll need to keep up with your property taxes and homeowners insurance. Paying property taxes is important. Property taxes are typically paid once a year. If you’re not current on them, the potential buyers likely won’t be able to obtain a mortgage.
Homeowners Insurance Records
As the seller, you’ll also need to provide proof of homeowners insurance to potential buyers. This is another item that is typically handled by real estate agents. As the FSBO seller, you’ll need to be prepared with this information. While selling your house without a realtor or real estate agent may save you money in commissions. It’s important to be prepared with all the necessary paperwork.
Bill of Sale
A bill of sale is a document that transfers ownership of personal property from one person to another. This document is typically used in the sales of vehicles. Also, it can be used for other items, such as furniture or appliances.
If you’re selling your house without a real estate agent or realtor, you’ll need to take care of all the paperwork yourself. With a little effort, you can successfully sell your house without the help of a real estate agent.
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Conclusion
In most real estate transactions, these are just a few of the legal documents that you’ll need to sell your house without a real estate agent or realtor. FSBO Sellers should be aware of the need for these documents and be prepared with them when selling their house. With a little bit of preparation, you can successfully sell your house without the help of a real estate agent. Eagle Cash Buyers are experts in selling houses without realtors or real estate agents. They can help make the process as smooth and easy as possible for you. If you want to avoid the hassle and headache of selling your house without a real estate agent, contact Eagle Cash Buyers today!
