There are several steps that you need to take in order to prepare
your property for showing. The time-consuming part is why I suggest that you give yourself a little stint between actually
deciding to sell and putting a sign out front.
Lots and Lots of
Paperwork. One of the very first items you’re going to want to check off is
getting all appropriate paperwork in order. The
list is a bit extensive, and is by no means an ‘across the board’ kind of deal.
Precisely what you need often varies by state. Even worse is the
fact that it just as often varies by county. The best way to find out exactly what you need is to
check with a local real estate agent. Of course, I am always at your disposal and can help you sort out what you need for all of my
surrounding areas. Just give me a ring, and I’ll help you out.
Dig Out Your Title
Insurance Policy. Be prepared to provide proof of your title insurance. Most
mortgage companies require that you present this before loan approval can be made, so it is advantageous to have it
within arm’s reach before you actually nail down a buyer.
Title insurance can be tricky business, and a professional needs
to handle the whole situation. Customs of who pays for
title insurance is different across the nation.
You may recall hiring someone to ‘search your deed’ when you
originally bought the home you are now selling. Title insurance is bought at that
time, although you may not have even been aware that that was what you were
It basically guarantees that the deed to your property was
searched from the present back to its U.S. Patent. The insurance is for
protection against human error, because let’s face it: mistakes do happen. The process will also have to be done again with your current sell, but it’s very handy to have your
prior paperwork nearby.
Sometimes Required. Some states require by law that if a home buyer is using a
mortgage loan to purchase a property that mortgage surveys be done. This guarantees that the property is as is should be without any
An example of an encroachment might be that a neighbor has gone
over the boundary line of your property with their garage, or that you might
have put a fence in that is actually on their land. All improvements will also
be noted on this survey. Many states also require that the boundary of the land be
surveyed. Again, every place is different. Make sure you check with a professional to find out exactly what your
specific laws require.
Some States Demand
Disclosure Statements. It isn’t uncommon for states to mandate that a seller
provide potential buyers with certain disclosures about the property being sold.
Some examples of disclosures are natural hazards, pest control and
lead paint. These few are certainly not the limit of what can be required of
you. An attorney or a qualified real estate agent, such as myself, can help you to determine what is needed from you specifically.
Report is Recommended. Technically, it isn’t normally a requirement for you to
have a pre-inspection performed.
Regardless of whether you’re forced to or not,
it’s a good idea.
You see, most of the time certain
inspections are going to have to be done before a mortgage lender will indeed
offer the money for your buyer’s to purchase your property.
In the event that some part of your
home doesn’t pass inspection, you are in a whole wide world of very complicated
Now, if you go ahead and pony up the
cash to get a pre-inspection done, you have every opportunity to make repairs
yourself, and before the mortgage company in your future ever finds out about
Or, you could also choose to make
allowances in your asking price for the repair of any faults once the home is
out of your hands. Another route you could take is selling the home ‘As Is,’
but that’s a whole other ballgame unto itself. I can’t say it enough, and you might
be a little tired of it, but you really need to check with a professional
before assuming anything.
The rules for these sorts of
circumstances are just too diverse from location to location for you to take
anything to chance. The last thing you want is to have legal repercussions from
this sell hounding you years from now.
A Home Warranty is
a Great Idea. A home warranty is becoming a greater and greater incentive to
prospective home buyers. These warranties are
purchased by you, the seller, at the close of your property.
Most often, a basic package is below
$500 and guarantees a number of different home features for a year. These could
include major appliances, electrical, plumbing, and heating and air systems,
among other things.
You’ll want to really research and
understand what you’re getting, because there are all sorts of home warranty
packages available. Having the one you’ve chosen on hand while showing your
property can really put your potential buyers at ease.