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Many legal documents are required to close on the sale of your home. If you are missing even one document, it could hold up the sale. Having a knowledgeable real estate agent will ensure that you collect those documents before the home sells to facilitate a rapid turnaround and quick closing.
As a real estate agent here in Bucks County, PA, I make sure you are ready to sell as soon as we find the perfect buyer. With my extensive knowledge of the real estate market, I can help ensure you’re fully prepared to sell.
Required documents
Deed: The deed for the property is the legal document that lists the name(s) of the owner(s) of the property, demonstrating who has the legal right to sell it.
Title: Like the deed, the title lists the owner or owners but also lists any liens or potential claims on the property by other parties.
Mortgage payoff statement: If you have not paid off your mortgage in full, you will need to request the payoff amount from your lender. With this document, you will be able to demonstrate that the selling price covers the mortgage payoff cost, so that you can transfer the title to the new owner, free of any liens or encumbrances.
Property tax records: Provide the new owners with documentation of property taxes, school taxes, and any other taxes that are associated with your property.
Utility bills and other required expenses: Provide the new owners with evidence of the cost of utilities and other required services. This includes bills for water, sewer, electricity, HOA fees, septic system cleaning, etc.
Seller’s disclosure statement: The federal government requires that homeowners disclose any known presence of lead on the property, but they are not required to test for lead if there is no reason to believe lead is present. Therefore, if your property has never been tested and the former owner never said to you, “We have lead in our paint,” for example, then you are not required to disclose anything.
Pennsylvania requires that homeowners complete a seller’s disclosure form, listing any “known material defects” with the property. This could include, but is not limited to:
- structural issues
- zoning or boundary disputes
- issues with plumbing, septic, electricity, or heating
- the presence of hazardous substances
- issues with the drainage or soil; flooding history
Pennsylvania law does not require homeowners to do any specific investigation regarding any issues. PA law also allows that if a situation was known and the owners believed it was corrected, they do not have to disclose it, even if the problem resurfaces after the sale.
However, those who have particular expertise and should have had a greater awareness of potential problems will be held to a higher standard if problems are not disclosed. For instance, an architect, engineer, or electrician may be expected to notice problems that a nurse, lawyer, or dancer would not.
Failure to disclose known problems could require you to pay for all related expenses the new owners need to take to ameliorate the problem. PA law does not permit punitive damages.
Optional documents
If you have made any major changes to the property or have added any new appliances, the buyer would likely appreciate receiving all critical paperwork, such as warranties, sales receipts, plans, and permits.
Some municipalities require water tests or other tests, such as testing an existing septic system. Your experienced agent will know what tests are required in your municipality.
If you have a Homeowners Association (HOA), you will need to provide the HOA agreement, documenting the rules and the rights of the HOA and homeowners.
A buyer may request to see the original sales contract or the property survey to clarify any questions they may have regarding the property’s history or its size and shape.
If the sale of the home is part of a divorce settlement or was previously owned by a former spouse, you will need to provide the Marital Settlement Agreement to prove that you are legally able to sell. If there is any pending litigation that involves the property, you must disclose this, as well.
As your real estate agent, I will make sure that your home is ready to sell quickly by creating a powerful listing, utilizing my agent connections, and making sure that all your documentation is ready for closing. Reach out to me today to help you sell your home quickly and for the best price.
