Selling a home can be an intimidating process. In fact, it can feel so overwhelming that some homeowners put it off as long as possible. One of the biggest stress-inducing aspects of selling a home is the paperwork. You’ll need many documents when selling a home, but these documents should be easily retrievable, and you should definitely have an expert walk you through the process. Here’s a look at what paperwork you need when selling a home in Pennsylvania:
Proof of Ownership, Description,
and Current Status
Before you can sell your home, you’ll need to prove that you own it. You’ll also need to have a description of what exactly it is that you own – the description of the home. You’ll also need to demonstrate that you are up to date on all your payments – so no one else can claim your home because you’re late on a mortgage or some other payment.
There are documents that achieve each of these things. You should have a deed that shows your ownership of the property, or you can find one that’s been filed with the city, county or state. The good news is that this same deed should have a legal description of the property, which shows the dimensions. You’ll need to get from your mortgage company a document that shows you’re current on payments, which is often easily downloadable from the company’s website. You’ll also need similar documentation from any other company that might have a lien on your home – including receipts that show your taxes have been paid.
Sellers will also need to fill out a general disclosure that outlines any major issues or liabilities involved with the home. Without these documents, you will not be able to close a home sale. These documents are needed to protect both buyers and sellers from fraud.
What Happens to These Documents?
These documents are put to work once submitted. The title company and attorneys involved with closing a sale will use these documents to generate what’s called a payoff amount, which is the total of what’s needed to pay off your current loan. These documents are also used to show when utility bills come due and their current status, which ensures a seamless transition and uninterrupted service of water, electricity, etc.
Are You Worried?
Maybe the idea of collecting and organizing these documents still sounds overwhelming to you. It shouldn’t. Even if you don’t have the original deed to your home, you can order a certified copy. There’s always a backup, and you can always find a way to obtain the documentation you need. You’re not the first person who can’t find the deed or receipts from payment of property taxes.
Find a Trusted Advisor
It’s always a good idea to get experience on your side. Contact CENTURY 21 Core Partners for representation in York, Pennsylvania, and one of our experienced real estate professionals can help walk you through all the documents needed and help you troubleshoot any issues that come up along the way.