The documents required to sell a home on a "by-owner" basis are no different than the documents used to sell a home through a real estate brokerage. The most important document is the contract, often referred to as the "sales agreement," "purchase and sale agreement" "contract for purchase" or some similar term. Beyond that, there are various disclosures, riders, title-related documents and the like. Unfortunately, because of laws and customs which vary by state and locality, I could not even begin to give you the answer you are looking for.
I'm guessing here that you are getting ready to sell your home on your own to save some commission dollars. There's absolutely nothing wrong with that. I would recommend, though, that if you live in a state where it is customary to use the services of an
attorney, be sure to do so. If you don't, you may want to consider using a real estate company as a "transactional broker," meaning that you're not paying them to find you a buyer, just to handle the paperwork for you and the buyer. It'll still cost you money -- far less than the 6% they charge to bring you a buyer -- but it will definitely be well worth the headaches saved. Best of luck!
Answer Submitted on Mon, Apr 28 2008
Rate this Answer: