Aim High Properties, LLC

FSBO paperwork to sell your house faster

When homeowners decide to sell their homes without a realtor, it is important to have all documents in place. The correct documents offer the information and tools that buyers need to make a decision swiftly. Aim High Properties, a cash buyer in Cinnaminson, shares the crucial documents that FSBO sellers must have to expedite the sale of their homes.

1. Completed Property Disclosures

Before they can market their homes, FSBO home sellers must complete all the required disclosure forms. Firstly, this is crucial information that buyers have the right to know. Secondly, some states’ laws require sales disclosures for a sale to happen. Ideally, a well-drafted seller's disclosure form will disclose all the material defects in a property and relieve sellers from liability. Some of the property information required in a home disclosure form includes known defects, easements or encroachments on the property, presence of lead paint or other toxins, and floodplain or wetland classification.

2. Title Review & Commitment

A preliminary title report can be made available to prospective buyers to help them decide. A title search examines the public records on the property to determine if there are any liens against it or any co-owners who haven’t signed off on the sale. FSBO sellers can use the services of a title company, which will review the title of a home within 10 business days and share the same with the seller.

3. Survey Location Report

This is not mandatory but a good-to-have report. However, some buyers may want a survey, while some states may require an up-to-date survey location report for a home sale to occur. A survey location report can make a home more marketable because it answers questions for the buyer. It shows the location of the improvements on the property in relation to the apparent boundary lines of the property. This physical inspection of the property is accurate to plus or minus a few feet. This report may be costly and takes several weeks to be completed by a land surveyor in an area.

4. Covenants, Restrictions, and HOA or POA Rules

It is imperative to reveal any covenants, restrictions, or HOA (homeowner’s association) or POA (property owner’s association) rules to a prospective buyer. This ensures that the deal doesn’t fall through when the buyer discovers these rules later. FSBO sellers can collect current copies of any covenants, restrictions, and HOA or POA rules from the HOA/POA board, county recorder, or a title company and share these with the buyers to review.

5. Purchase Agreement

Even though an FSBO seller is working without a real estate agent, a purchase agreement can be drawn by an agent representing both parties or by an attorney. This is a legally binding agreement that documents every detail of the sale. This tool can help buyers take the next step and write an offer. The purchase agreement describes every legal term. These terms may include the purchase price, down payment, agreed payment plan, closing date, disclosures, contingencies, etc.

This list is not exhaustive and can be drawn up by an attorney. Sellers and buyers must cover all crucial terms comprehensively in a purchase agreement to avoid disputes and outline how to handle conflicts when they arise.

6. Counter Offer Forms

These forms help sellers counter a buyer’s offer price or terms without having to rewrite the offer the buyer has presented. The condition can provide the buyer with a counteroffer that only amends the items the seller is countering.

Home sellers can choose to sell their homes via the FSBO method. It is a lot of paperwork and trial-and-error as home sellers are not expert marketers or real estate agents. Those looking to sell their homes quickly without all the above paperwork hassle can seek out a cash buyer such as Aim High Properties.

Why Aim High Properties, LLC?

Aim High Properties’ extensive knowledge of the real estate business and market, its vast network of resources, and significant years of expertise have helped home sellers and buyers with various real estate situations. Here’s why Aim High properties stand apart:

A one-on-one relationship with customers
Direct home purchase and quick cash offers
A swift and hassle-free transaction
Buys and sells properties directly

Aim High Properties offers wholesale property deals and investment opportunities for private money lenders. Its partnership with agents enables the discovery of the best property deals in the area.