The FSBO documents that are needed while closing a deal

Must-have FSBO documents that home sellers need when closing the deal

Gahanna, United States - /Offer Express, LTD/

FSBO paperwork home sellers must-have during the closing

Now that the purchase agreement is made and the sale is almost made, a home seller needs to have certain documents to close the deal. Offer Express, a premier real estate solutions company in Ohio, lists the necessary documents for a smooth closing.

1. Affidavit of the title - This is a legalized and notarized statement that offers certainty about the chain of title, protecting the buyers from inheriting the legal issues of the home seller. It is provided by the seller attesting to the status of and specific facts about a piece of property, including ownership and any legal issues.

2. Deed - This physical document legally transfers the property ownership from the seller to the buyer. This document must be notarized and filed with the appropriate authority. A buyer and seller will both get a copy of the deed.

3. Closing statement - Also called a settlement sheet, a closing statement is the final statement of all the costs and credits of a real estate transaction. It allows the seller to cross-check that every critical detail about the transaction is covered in the document. This document also happens to be the receipt of the entire transaction. Sellers can employ a title company or a closing/real estate agent to fill out and provide the statement.

4. Property tax records include the local tax data related to the property, such as the tax rate, property assessment value, and tax exemptions. It helps sellers gauge how much tax they owe and what the buyer will need to pay. This document is readily available through the county assessor’s office or the state’s revenue department.

5. 1099-S tax form - This tax form, required by law, mentions any capital gains taxes a seller will owe on the home sale. The seller needs to file this form with the IRS after downloading it from their website unless exempted. This form isn’t required if a primary residence is sold with less than $250,000 profit or if the home seller is single or $500,000 if married.

Selling a house FSBO is a challenge, and every state has its unique requirements. FSBO sales require a homeowner to manage many tasks for a successful sale. They need to market, stage, repair, negotiate, and keep track of all the massive paperwork; they must expend a lot of time and money. For a hassle-free sale, home sellers can instead reach out to experienced and reliable cash buyers such as Offer Express for a seamless and swift sale at a fair price. 

Why Offer Express?

A premium real estate solutions company, Offer Express buys houses and wholesale properties and partners with local agents, offers investment opportunities to money lenders, and sells renovated and ready-to-move-in homes. With its abundant experience in all types of real estate transactions, Offer Express is an experienced and resourceful company offering hassle-free cash deals. 

If you are searching for “Sell my house fast Columbus OH” on Google, your search is successful. Call (614) 820-5777 to know more about the real estate services at Offer Express.