Legal Documents to Have When Selling Your Home to a Home Cash Buyer
Selling a house for cash is a legal transaction that requires the cash home buyer and seller to adhere to the legal requirements of your state. You will need the following documents when selling your home to a home cash buyer.
The house should be inspected by the home inspector for you to know the right price to charge. You need a residential property disclosure form to fill in the repairs that a home requires and the condition that it is in at that time.
A warning statement about the lead-based paint to be part of the documents if your home was built before the 21st century. Some states require you to provide the buyer a document about the lead-based paint to protect you from being liable to the buyer if something happens to the future homeowners because of the lead based paint.
An offer to purchase document is essential for selling your house for cash because it protects the rights and explains the responsibilities and the interest of the buyer and seller. Legal print shops and specific office supply stores sell the fill-in real estate sales contract at an affordable price. Discuss about the details of the offer to purchase document with them cash home buyers to ensure that you are on the same page before you sign it.
The original or current survey will the cash home buyer to see the boundaries of your home and what you own inside. The buyer will also use the original or current survey to establish whether your home has extended beyond the boundaries of your neighbor’s land or not to provide evidence to the future buyer if land disputes come up in the future.
The cash home buyer needs your transfer and disclosure forms. The original deed that was given to you by the county clerk or recorder’s office when you bought the property validates your ownership of the home. You can get a certified copy from the county land records office when selling the home. These forms have information pertaining the buyer, seller and the property such as its value, property tax number and the taxes that you are liable to pay on the sale on the transfer form.
You should be prepared with a private mortgage form. You can buy the fill-in private mortgage forms at legal print shops and office supply stores. Fill in all the information that is required by the form such as the total amount of the mortgage, number of payments, payment due date, frequency and mount, interest rate, late penalties, how the payments are made through mailed check to the home address, street address of the home and property tax identification number and more. The cash home buyer or their next client will take care of the remaining mortgage payable hence they need these documents.