Paperwork You Need For Potential Buyers
Selling your home requires a bit of preparation not only in cleaning the home and fixing it up so it looks great for your buyers but there is also a bit of paperwork involved. If you are selling your home yourself, you might not be aware of all the little things you need for potential buyers. Here’s some tips that might help you get better prepared.
Collect the utility bills for heat and water costs for the past year. Buyers will want to see proof of these costs.
You or your lawyer will want to will need to do a title search. The title search or your ownership document will have the legal description of the home as well as any restrictions (such as how high your fence can be, if recreational vehicles are not allowed in driveways etc.) If these restrictions aren’t disclosed to the buyer and written into the sales contract you will be creating a loophole for them to back out of the contract when they find out.
You will need some feature sheets which list the size and features of your home to give out to prospects. You also need the offer forms. You can view these forms online, but you will be having your lawyer walk you through them and he or she can provide the forms or tell you where to obtain them.
If you own a condo or townhouse you will also have to provide information on the strata that manages the buildings. The strata takes care of all the common property (pools, gardens) and services (garbage pick up, maintenance) and collects the fees which go into a contingency fund for future needs (new roofing etc.)
You will need to provide paperwork that shows the monthly maintenance payments, the bylaws, rules and regulations, annual budget information, contingency reserve funds, limited common property and a certified statement that all fees are up-to-date.
You may, depending on local regulations, have to provide buyers with this information 24 hours before an offer can be accepted. This is to ensure that buyers have ample time to review the information before placing their offer.
Now that you know what kind of home you’re selling and you’ve made it ready for the market, you must now work on the marketing plan.
Showing Your Home Without A Real Estate Agent
You’ve done your research. You’ve priced your home, cleaned and freshened it up. Your sign is hung out and you’ve worked hard on creating an intriguing ad. You told everyone you know that you’re selling your home. Now you wait for the phone to ring.
RRRRRINNNGGGGG!
How do you handle calls from buyers? What do you ask? How do you get them to come visit?
First of all, make sure you get the call. If you only have one line then sign up for the call waiting featu ...
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About Real Estate Contracts
One of the first things you must do before signing an offer is add the following:
“This offer is accepted subject to lawyer’s approval as to form and content by (state date and time).”
Usually give no more than 24 hours unless it’s a weekend and you anticipate a delay. If you don’t put this in the offer you could be in for a messy situation.
Subjects
Here’s where you need to pay attention.
Often times a buyer will want to add a s ...
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Describing Your Home
Selling your home takes time and resources so you only want to go through the trouble of showing your house to prospective buyers who are really interested in the kind of house you have. Here’s some things to think about when describing your home for sale.
Materials
Is your home wood or concrete construction? Are the water pipes made of copper, iron or plastic? What is the exterior material used; stucco, brick, wood, plastic siding? What kind of insulation do you ha ...
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