The FSBO documents that home sellers must have before listing a house

 Offer Express: 7 must-have FSBO documents before you list your house on the market

Gahanna, United States - /Offer Express, LTD/

5 FSBO documents you must have before listing

Selling a house is hard. And the associated paperwork is one of the most challenging aspects of this task. Poor paperwork before, during, or after a sale can have serious legal and financial implications for the owner to the extent of a failed sale agreement. Offer Express, a premier real estate solutions company in Ohio, shares a comprehensive list of paperwork home sellers must have before listing the house. 

1. Comparative market analysis (CMA) is a report that shares an estimate of a home’s market value and helps avoid a costly pricing mistake. This report includes an evaluation of the neighborhood, details about the subject house; 3-5 comparable homes in the area recently sold; adjusted differences between the subject house and the similar dwellings; andthe sold price per square foot after adjustments.

This information helps sellers set listing prices and assists buyers make competitive offers. Most real estate agents and brokers use software to generate comprehensive CMA reports. Home sellers can create their own by using a spreadsheet to keep track of their research or using an online home-price tool offered by one of the real estate listing websites.

2. Seller’s net sheet - The seller’s net sheet is a simple worksheet that helps property owners with a reasonable estimate of closing costs and net proceeds from the sale of their property. This sheet will evolve as the sale circumstances change. This document can include real estate commission, closing costs, administrative fees, prepaid expenses, HOA fees, mortgage payoff, and marketing/advertising costs.

3. A mortgage payoff statement shows the payoff amount that a home seller needs to pay to satisfy the mortgage loan in full. The payoff amount isn't just the outstanding balance but also encompasses any interest owed and potential fees the lender might charge. This document is beneficial as, at the time of mortgage payment, the title company will ensure the money from the buyer gets applied to the mortgage.

4. Preliminary title report - Home sellers can acquire a title company's preliminary information. This report helps identify any outstanding title issues with a home — things like liens, back taxes, or other restrictions that could jeopardize a sale.

5. Certificate of compliance - A certificate of compliance is a legal document that confirms that a parcel of land exists and complies with any state and local subdivision laws. This can be acquired from a local county or municipality. If a property does not comply with local and state laws, a conditional certificate of compliance is needed until the problem is resolved.

6. Property survey - This document shows the legal borders of the property, buildings, improvements, and the location of any easements. This is helpful when the boundaries on the land are not obvious, and if there are any issues, the home seller can fix these before listing the property on the market.

7. Original sales contract - This document shows the chain of ownership — from the previous owner to the current owner and then the buyer. It details the last price sale and disclosures made by the previous seller.

 

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.