Selling a home isn't as simple as declaring who owns the property on a standard deed. And while the exact amount of paperwork depends on the circumstances of each sale, Gallatin home sellers should understand the general principles behind the many documents they may need to review and sign. Learn more about the most important paperwork, and how a real estate agent can help sellers decipher the clauses and contingencies.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Usual Home Selling Paperwork

Home sellers may already be familiar with major documents from the buying process:

• A Deed
• A Title
• The Purchase & Sale Contract
• Any Contingency Agreements

Sellers are obligated to prove their ownership of the property, meaning they will need a clean title with no disputes. Usually, a title company or Escrow company will check the title to make sure there are no liens or clouds on the title. Examples of possible liens or cloud titles might be a a vendor lien from work performed on the house or a next-door neighbor claiming they own part of the property. These will need to be resolved before the closing can be completed. In the case of an outstanding lien on the home, sellers also need to provide the buyer with the relevant details. Title companies will research potential secrets regarding the property, but being upfront about the information can expedite the escrow period.

Essential Paperwork Information

The idea behind seller paperwork is to give potential buyers as much information about the home as possible. This includes everything from property tax documents, so buyers have an idea of how to budget, to the condition of the home at the time of purchase. Sellers aren't expected to know every last detail about their home, but they should have basic information they can share with the owner. For example, if the HVAC system should be replaced soon or if the roof shingles are showing signs of wear and tear. Home buyers can hire a home inspector of course, but sellers can augment what the home inspector finds with their own knowledge about the property. Most states require a home seller to complete a home seller disclosure form that documents any issues or problems about the home. The form may also require the seller list all known additions or material changes that have happened to the property since they owned it.

Contractual Documents

The purchase and sale contract is a document that puts the home sale into a formal agreement, officially linking the details of the buyer and the seller to the same property. Some documents may be included within the purchase and sale agreement, while others might be separate. The agreement may include contingency paperwork relating to financing and/or home inspection permissions. In addition, within the purchase and sale agreement, the buyer may ask the seller to cover closing costs.

Other documents not included in the purchase and sale agreement might include home repair receipts and information, warranty documents, and home insurance data.

Finding Help

A real estate agent can make it easier for sellers to understand and complete their paperwork. Ultimately, they make the process far smoother than selling the home on one's own and limit a seller's liability. Agents not only look out for potential mistakes on the paperwork, but they can also recommend certain strategies for the seller based on the needs of the buyer and the neighborhood in which the property is located. However, it will always be the home seller and the home buyers responsibility to read and review all of the documentation before signing and document.

Sale paperwork can be complicated, but it helps to have a solid idea of how each piece of documentation functions during the course of the property transfer. The key is for sellers to be as communicative to buyers so there are no surprises anywhere down the line. The right real estate agent can facilitate this process for a smoother sale.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.