Preliminary title report: A clear title to the property is essential for anyone selling their home. Prepared by a professional title company, a title report will reveal various liens, encroachments, easements, and anything else recorded against the property. If you still carry a mortgage on the property, such mortgage will be listing in the title report.
Satisfaction letter from lender: Such document is generated and signed by a mortgage lender, typically a bank. This letter will indicate that the borrower has paid off the mortgage loan in full or that a mortgage is still held against the property. If no mortgage is held, the Satisfaction of Mortgage document must be filed with the county office or land registry office in order to get the property deed updated and to obtain clear title to the property.
Utility readings: Meter readings indicating electrical and gas usage.
Utility payments: In order to get a full picture of the costs of owning a home, many buyers request information as to the average utility costs for the property. Consider providing copies for 12 months of service.
Home warranty policy (if applicable): If the property is covered under a home warranty, provide a copy of the document to your agent. It can be a beneficial marketing tool in selling your home.
Repairs completed (list each separately, additional attached, if needed): New water heater? Roof? Kitchen update? Provide such information and documentation to your agent to be used as a marketing tool.
Prepare deed (attorney): Once a buyer has been found for your property, you will need to have an attorney prepare a deed. A deed is a legal document that transfers ownership of real estate. It will contain the names of the old and new owners and a legal description of the property.
Arrange for payment of transfer taxes: These taxes are imposed by states, counties, and municipalities on the transfer of property within their jurisdiction. In a narrow legal sense, these taxes are essentially a transaction fee imposed on the transfer of title to a property.
Set closing date: Such a date is set once a buyer has been found for the property. It is the last thing you, as the seller, will do. Typically, all of your personal belongings will have been vacated and the home is ready for new occupancy!