Complete List of Paperwork for Selling a House Without a Realtor
From sales contracts to HOA rules to purchase agreements, selling a home requires a lot of paperwork. When selling without a real estate agent, homeowners are responsible for a significant amount of legal documents.
Making sure that you have all the needed paperwork is the first step to a successful real estate transaction. If you’re considering opting for a direct sales transaction, then it’s critical to understand required paperwork for selling a house without a realtor. While this might seem time-consuming, we’re here to provide you with an easy-to-understand overview of the necessary documents.
List of Paperwork for Selling a House Without a Realtor
Navigating the process of writing up a contract without a real estate agent might feel overwhelming — especially for the first-time homeseller. But don’t worry, we’re here to give you a breakdown of the required paperwork for selling a house without a realtor.
Original Sales Contract
Whether buying or selling a house, a sales contract is one of the most important legal documents. This is the document that a home buyer is given when they are ready to purchase the home.
Here’s a list of information that the sales contract usually contains:
- Information about the house, including the address, type of property, lot size
- Contact information for the buyer and seller
- The purchase price
- The date of the official closing
- Contingencies, such as home inspection, appraisal, and home sale contingencies information
- Closing costs and responsible party to pay for them
- Title information
A property survey is a document that details the land boundaries and property lines that a house sits on. It lays out any land, structures, or features that the new homebuyers will legally own. For example, it provides specifications about what fences are included and where the land ends. As you’re preparing paperwork for selling a house without a realtor, the new homebuyer will sometimes request a property survey.
Loan Documents and Mortgage Statement
When conducting a home sale, homeowners are required to produce loan documents and paperwork showing information about the mortgage. These legal documents will list details about your account, the loan amount owed on the home, and other associated charges.
The loan document will also state the seller’s payoff amount, which states how much money remains to be paid off on the loan to the lender. It’s worth noting that the payment amount is not the same as the current balance, as this includes interest. Listing your payoff amount is legally required by the U.S. Consumer Financial Protection Bureau. To obtain these legal documents during a home sale, all you have to do is contact the bank, lender, or loan server associated with your account.
Most Recent Utility and Property Tax Bills
When considering paperwork for selling a house without a realtor, be sure to include the most recent utility and property tax documents. By doing this, the homebuyers will have the full picture of how much they need to pay once they move into the home. The homebuyers might also request your property tax bills to get a more comprehensive understanding of their anticipated monthly or annual costs.
A title report is a piece of documentation that provides a detailed description into the legal status of a property and pertinent information pertaining to its ownership. A title search can be done through your local County Clerk’s office.
A title report contains particulars about the house, normally including the following:
- Full, legal description of the property
- Vesting interests in the property
- Liens on the house
- Property disputes
- Current tax information
- Zoning laws
As a homeowner, you can order a title report through any of the reputable title companies. A title company typically charges a few hundred dollars to order a title report, which is a crucial document to include during a real estate transaction.
While the title report and deed are two terms that are often confused, these are two separate legal documents. The title is your proof of ownership of a home, and a deed is the actual physical document that provides detailed information about the home. A deed can be ordered directly from the County Clerk or Recorder’s office where the home is located.
As a homeowner, if you have any appliance or household items that are still under warranty, then the new homebuyer will most likely want to have this documentation after their purchase. Plus, warranties can also help boost the value of your home or add value to the sale price. Homebuyers can rest easy with the knowledge that their new home’s appliances are protected for a certain amount of time.
Homeowners Association Agreements
If you live in a community that has a neighborhood association or homeowner’s association (HOA), then you will need to present any pertinent information to the buyer. HOA information will state HOA rules or covenants, rules can relate to lawn care, parking guidelines, quiet hours and noise ordinances, as well as any other pertinent details about the HOA. Potential buyers will want to know their future HOA bylaws and, as a homeseller, you’ll want to be sure to include this information.
A purchase agreement is another crucial legal document and, when selling a house without a realtor, the seller will be responsible for overseeing this. Also known as a purchase contract, this document lays out the agreement between the homeseller and homebuyer. While not comprehensive, this list provides some of the details that are included on the purchase agreement:
- Amount of earnest money deposit
- Disclosures and natural hazard forms
- Date of closing and amount of closing costs
- Loan details and purchase price
- Signatures of both the homebuyer and homeseller
Purchase and Sales Agreement
While it sounds just like a purchase agreement, the purchase and sale agreement is actually a different legal document. A purchase and sale agreement (PSA) is a legally binding document that establishes terms that both the homeseller and homebuyer are now obligated to abide by. The purchase and sale agreement typically happens earlier in the process, while the purchase agreement is normally drafted during the closing process.
Handling the Paperwork
When considering the paperwork for selling a house without a realtor, you might be wondering who actually fills out and files all the required documents.
Who’s In Charge of the Paperwork?
Homeowners who opt for a FSBO sale will be responsible for handling the paperwork involved in the transaction. If this is intimidating to you, using a platform like Aalto to sell your house ensures you still have an on-demand expert to help you with all those documents and the entire closing process. You’re still in control, but Aalto’s platform creates the purchase contract for you and handles all legal documents, disclosures, and inspection information. You’ll get all the help you need in accepting the offer that is right for you, all with a 1% transaction fee vs. 5% in the traditional process.
The paperwork for selling a house without a realtor has different requirements from state to state. Depending on your location, the necessary paperwork for selling a house without a realtor can vary depending on the state, county, or city that you live in. Before listing your home, it’s a good idea to spend some time researching the paperwork your state requires you to submit.
Is a Real Estate Attorney Required?
In short, it depends. Some states require homesellers to hire a real estate attorney when selling without a realtor, while others do not. For instance, the state of California does not require a real estate attorney during the home sale process. If you are concerned and want to guarantee that all legal documents are completed correctly, it might be a good idea to hire one to assist during the process.
Ready, Set, List Your Home Today
Now that you understand the required paperwork for selling a house without a realtor, you’ll be one step closer to listing your home and moving forward with your home sale.
Selling a house is easier than ever thanks to Aalto. The self-service platform is committed to simplifying the process of buying and selling homes by directly connecting homesellers with potential buyers — without the need for a traditional real estate agent.
Aalto’s platform provides support to homesellers so they can feel confident during their transaction. Aalto’s talented team of professionals will assist in everything from setting a listing price to virtual staging to conducting a comparative market analysis to determine your home’s value. Our experts have the tools to answer questions that may arise, such as how to determine your home’s market value, what to include in a property disclosure, how to handle a cash offer, and the best way to navigate a counteroffer.
Homesellers can create a profile for their home in minutes by using Aalto’s selling platform. Without requiring any contract or commitment, Aalto enables homesellers to explore potential interest in their home and test the real estate market. Instead of using a real estate agent that requires hefty fees, sellers who choose to use Aalto can enjoy savings of up to 80% on real estate commission fees.
Aalto is reinventing the home selling process by offering flexibility and transparency when it comes to real estate. There’s no need for a traditional buyer’s agent or seller’s agent since homesellers can list their home on their terms and on their timeline — with Aalto’s support along the way.