Selling your home yourself is a smart way to save money. According to the National Association of Realtors, approximately seven percent of all homes sold in 2023 were for sale by owner (FSBO).
If you’re planning to go FSBO, you might wonder, what paperwork do I need to sell my house myself?
Read on for a list of essential documents you’ll need to help simplify your home selling process.
Disclosure Documents
As you ask, what paperwork do I need to sell my house myself, start with the necessary residential disclosure documents. A residential property disclosure form is legally required in most states. This form discloses any known issues with your home such as specific defects or areas that may require repair.
All homes built before 1978 will need to include a lead-based paint disclosure for the new buyer. This disclosure simply informs a potential buyer of the dangers associated with lead-based paint.
Finally, you may need a few other state or locally-mandated disclosures. This might include information like your home’s proximity to airports or military bases or if you’re located in a flood zone, for example.
Sales Contract and Survey
Of course, all home selling paperwork should include a legally binding sales contract. The contract should include important details like the agreed price, the projected closing date, contingencies, and other terms between yourself and the seller that you need to lay out on paper.
Look for a standard real estate purchase agreement form for your specific state as guidance. This ensures that you’re providing the buyer (and yourself) with the correct, legal contract regarding the sale of your home.
It’s also wise to provide buyers with a property survey. A professional survey will show your property’s boundaries. These boundaries usually include things like which fences are yours, where your property or land ends and begins, and if any other structures belong to you (or that are on the property).
What Paperwork Do I Need to Sell My House Myself? Title and Deed
It’s important to provide your buyer with a preliminary title report when selling without a realtor. This report shows who currently owns the home and if there are any liens, encumbrances, or other issues with the title that must be resolved before you can close. Essentially, the title shows that the home is, in fact, yours to sell.
An existing mortgage payoff document should also be included. The document can be obtained from your lender upon request, and it shows the remaining mortgage balance on the home. This statement also shows how much the lender is still owed if you have not already paid off the mortgage in full.
You should also include the deed to the home, which allows you to legally transfer ownership to the new buyer. You can get a new deed or use the one you already have when you purchased the home.
Other Key Documents
Aside from the title, deed, and mortgage payoff statement, there are a few other financial FSBO documents you should include when selling the home yourself. Include your most recent property tax records showing that you’re current on your property taxes and how much they are.
If you have ever filed a claim, it’s wise to include records of your homeowner’s insurance claims to the new owner. If you haven’t filed a claim, it’s still a good idea to show them that the home is insured.
You’ll also want to have a Form 1099-S handy (also called Proceeds From Real Estate Transactions). This form is for you to report capital gains to the IRS once you sell the home.
More Essential Home Sale Papers
The home selling paperwork we’ve already discussed is vital if you want to go the for sale by owner route. However, there are a few other essential home sale papers you can include if you want to sell your home fast.
Utility Bills
Although they’re not required, providing buyers with a few of your most recent utility bills is a good addition. These bills will give potential buyers a clearer idea of how much they can expect to pay each month if they buy your home. Include a few of your most recent water, electric, and gas bills if applicable.
Certificate of Occupancy
Providing a certificate of occupancy, or COA, is also not required, but it can’t hurt. This legal document comes from your local municipality. A COA states that the home is suitable for occupancy and that it meets all of the latest safety measures and local building codes.
Warranties
Having an active whole-home warranty is a huge plus if you’re selling your home yourself. If you happen to have a home warranty, make sure you include this with your home selling paperwork. A warranty shows that major household systems and appliances are covered if something breaks or needs repairs and most of them are transferrable to the buyer.
Manuals
If you happen to have the manual for all of your home appliances, giving this to the new buyer is extremely helpful. These manuals make it easier for the buyer to operate things like the oven or a water softener system. It’s also a nice gesture that shows you care about the person who will soon be occupying your home.
HOA Paperwork
If your home happens to be part of an HOA or homeowner’s association, it’s important to give the new buyers your HOA agreement. These documents show the new buyer the HOA bylaws, guidelines, and monthly fees. Providing this information is extremely important so that the buyers are prepared about the HOA’s rules before they move into the neighborhood.
Prepare Your Paperwork
Remember the information here when you ask, what paperwork do I need to sell my house myself? From the mortgage payoff statement and a property survey to home warranties and HOA bylaws, each item on this list will make selling your home yourself easier.
If you want to sell your home fast, contact the experts at DBC Home Buyers to find out how we can help!