Documents that you Need to Sell your Home by Owner without Using an Agent
Selling home by owner is no less a challenge and what makes it even trickier is all the cumbersome paperwork that you need to handle all by yourself once the deal is finalized. Any mistake on this front can make or break your deal and in worse cases even a hefty lawsuit. This is the reason it is very important to know all the documents when you are ok by owner selling home without using an agent. There is no doubt that you will get to keep larger chunk of profit but a small miss here can also become a very costly mistake. Here are some important documents that you would need to seal the deal.
Any disputes that happen after the closing of the deal will be settled on the basis of this contract. This alone will testify the importance of this document and sanctity of its contents. All the terms of the sale will be covered here and is legally binding.
The seller needs to give a signed document that lists all the defects in his property. For instance, for property in Oklahoma sale by owner, the local laws dictate that the seller needs to disclose all the defects or will be liable to pay the damages if detected after the sale.
Lead Based Paint Addendum
If your home was built before 1978, you are required to provide this document as necessitated by the federal government.
Offer and counteroffer forms
At this stage, mostly people discuss the terms verbally until a legal sales contract is drawn out. However, if you are wary of possible confusion, you can ask the buyer to fill out these forms before the actual contract.
It is recommended to involve the title company as soon as the deal closes. They will arrange for seamless closing of sale and safe transfer of ownership as well as funds.