No matter how you slice it, selling a home means dealing with a whole lot of paperwork. That’s because a home sale is one of the most complicated legal endeavors most people will engage in during their lifetimes.
Navigating this process can seem overwhelming, but it doesn’t have to be with a little bit of preparation. At Bill Buys Houses, we help homeowners simplify the process when they’re selling their homes. In this post, we’re breaking down the key documents needed during a home sale.
To skip the hassle and sell your house as is, give us a call and connect with our cash buyers today!
Why So Much Paperwork?
One of the first things to understand about all of the red tape involved in a home sale is that it’s really up to your local government to determine what paperwork is needed.
In Minnesota, you can download a PDF file from the Minnesota Attorney General’s office to find out everything you need to do when selling your home. This helpful book is filled with plenty of great advice to guide sellers through the process.
Anytime you’re selling to a buyer working with a mortgage lender, you’re also going to have to deal with more paperwork.
When you work with a real estate agent or an attorney, they’ll talk you through the required paperwork and help you gather all the documentation needed.
However, if you’re selling a home on your own without a realtor, you’ll need to gather everything yourself.
The Necessary Paperwork For Selling A Home In Minnesota
The first thing to know about selling a home is that every state has its own regulations. What’s required in one state isn’t always needed in another, so it’s important to determine the local laws in your area. Most of this information is available on county and state government websites.
When you’re working with a real estate agent, he or she will sort through the needed paperwork for you. Remember, there are differences between working with a real estate agent versus an investor.
If you’re planning to handle the sale on your own without a real estate agent, it may be worthwhile to connect with a real estate attorney. This may protect you against any potential liability during or after the sale.
These are some of the main documents you should gather before selling your home.
Original Sales Contract
Before selling your home, you’ll need a copy of your own sales contract from when you purchased the house from its previous owner.
This demonstrates that you have the legal right to make the sale and share any important disclosures and the previous sale price.
Mortgage Documents
Include all of your mortgage documents, including loan payoff information.
Appraisal
Every time a home changes hands, a professional appraisal is required to assess the fair market value and how much a lender is willing to lend for the mortgage.
Unless you’re working with a cash buyer who won’t need to finance the purchase, you will need a fresh new professional appraisal.
Permits Or Plans
If you invested in upgrades during your ownership and they required a permit, keep a copy of those permits and any related plans in your homeowner’s file.
Maintenance Records And Warranties
Unless you’re selling your home as-is to a cash buyer, you’ll need to gather all of your home repair and seasonal maintenance documentation.
Include a record of any utility work, roof or home exterior repairs, and chimney and dryer vent cleanings. Records of warranties are useful to find as well. Some warranties are transferable to the new homeowner.
Property Survey
A property survey outlines the legal boundaries of a property and includes important information about structures, driveways, fences, and any other key features.
Warranties
If you have any home improvements that will be under warranty at the time of the sale, gather all the warranty information into a file.
Manuals
Save the manuals for any appliances you’ve replaced over the years and include them along with your warranties.
This includes items like the dishwasher, washing machine, clothing dryer, garbage disposal, garbage compactor, humidifier, smart home thermostat, and stove, just to name a few.
Local School Information
Many buyers want to know which local school district a home is located in. Print up information related to the schools in your area and include this in your documentation file for potential buyers.
Homeowners Association (HOA) Information
Gather all of your HOA covenants and agreements if you live in an area with an HOA. This may include HOA regulation information related to pet ownership, parking requirements, noise levels, home improvements, yard work, and more.
Be sure to include the HOA’s rules and regulations, bylaws, dues statements, articles of incorporation, and any other pertinent documentation.
Loan Documentation
All information related to the first or second mortgage as well as any home equity loans, should be collected and kept with the title information for the home.
Utility Bills
Most buyers will want to see an average monthly bill so they can know what to expect if they purchase the home.
News Items
If you live in a home with a unique history or local significance, keep copies of any news articles or web features for potential buyers to check out.
Blueprints Or Floor Plans
If you have access to the floor plan of your home, this is a good way to give potential buyers additional insight into the size and layout of your home and any features that make your home unique.
Disclosure Form
Transparency is more than just a good idea when selling a home. It’s also a legal obligation and a potential liability if the buyer decides to file a lawsuit for failure to disclose important information.
You’ll need to disclose the presence of asbestos, lead paint, environmental hazards, mold, water damage, flooding, property disputes, and any other significant problems.
Home Insurance Records
Your buyer will need a copy of your homeowner’s insurance information and any claims information that occurred while or before you were the owner of the home.
Title Report
You’ll need to include a title report that documents ownership of the home and any important information related to the history of ownership.
Receipts
Receipts on anything that is warranted or any features that were recently added should be collected for the next buyer. This includes appliances and fixtures that you replaced during your ownership of the property.
Sell Your Twin Cities Home For Cash With Bill Buys Houses
Buying and selling a home can feel like you’re signing your life away. Cut through the clutter by selling your house for cash with Bill Buys Houses.
We can help you get cash for your home without the headaches of working with a realtor.
Our process for buying homes for cash is simple:
- Schedule a walkthrough
- Give you an offer
- Close your sale!
Pros Of Selling Your Home For Cash
There are many positives to selling your home for cash. We can make the process much easier and smoother; you can sign your name on fewer documents and have cash in hand in just a few days!
No additional work is needed from you, such as cleaning and staging your home or making extensive repairs. We will take care of the dirty work while you look for your new home.
Our offers will not fall through either, so you know you’re receiving a chunk of cash at the end of the process. Selling your home for cash can also help you get out of bad situations.
Some situations we’ve seen in the past include:
- Approaching foreclosure
- Inheriting a home
- Too many repairs needed
- House is condemned
With Bill Buys Houses, you can walk away from a problem and have a brand new start in a new home.
Avoid The Hassle With A Minnesota Cash Home Buyer Today
Are you thinking of selling your Edina, White Bear Lake, or Forest Lake home, but the thought of all this paperwork makes you shudder? Skip the hassle and get a fast cash offer with a cash home buyer from Bill Buys Houses today!
We are not just investors–we are part of your community. We care about the neighborhoods we live in, and we’re always looking for ways to improve the lives of our neighbors. Our services are designed to help those in need of a quick way out of a bad situation. Let us help you today!
With a fast, flexible sale from Bill Buys Houses, we’ll help you get through the sale process smoothly so you can move on with your life. To request an offer, give us a call today at 651-270-9191 or contact us online.
