Documents You Need to Sell
Documents for selling?
Yep. There are several documents you’ll want to gather when you prepare to sell your home. Ensuring that everything is in order before you list your home on the market will help you to avoid any unexpected delays during a transaction. Don’t worry though, most of these documents are relatively easy to gather. We’ll also point you in the right direction to get the documents if you don’t have them readily available. And in many cases, an Alpine agent can also help you to get the documents.
- Mortgage Statement
- Previous Purchase Agreement
- Property Tax Info
- Insurance Info
1. Your Current Mortgage Information
This is your most recent mortgage statement from the bank. This information is necessary to know the amount you need to payoff. Your agent will also help to establish what is called a “sellers net sheet”, a useful tool when it comes to reviewing offers.
2. Previous Purchase Agreement & Docs
If you still have all the documents from when you purchased the home, perfect. Many of those documents can be useful when getting ready to list. (For example, maybe you just never got around to repairing that broken gutter from the inspection report. Now is the time to do that.) If you don’t have the documents, it’s not a deal breaker. It’s just provides a lot of useful information for you and your agent.
You can find the deed with the state recorders office. The deed is to confirm ownership. If there are multiple people on the deed, each person will need to agree to selling them home. There may also be special circumstances, such as an estate. A lawyer may be needed to help navigate situations such as that. Tip: Your agent can get this information for you.
4. Property Tax Information
This information can be found on your county (borough in Ketchikan) tax assessors website. If you aren’t able to locate it, your agent can get the information for you. Tip: Your agent can get this information for you.
5. Homeowners Insurance Information
Contact your insurance company and request a statement of coverage. This is particularly a good idea if you have flood insurance. Ask your insurance agent if certain coverage can be transferred.
6. Surveys and Reports
This includes property surveys like an as-built done by a licensed engineer. This will likely be a part of the documents from when you purchased the home. If you’ve made additions to the home or done improvements, a new as-built may be required by some buyers lenders. Tip: Your agent can help this information for you.
7. Lease Agreements
Have tenants? Gather those lease agreements. Don’t have an updated lease agreement? Get them updated. Just plain don’t have a lease agreement, maybe its a verbal understanding? Get it in writing. If the tenants intend to be there past the sale, buyers and their lenders are almost certainly going to want to see the agreements.
Additional documents to keep in mind.
There are additional documents your agent may ask you to complete prior to listing your home for sale. Depending on the circumstances, they may or may not be required.
1. Property Disclosure
If you’ve been living at the property you’re selling, you’ll be required to fill out a Residential Real Property Transfer Disclosure Statement. This is a State of Alaska document (you can find it on their site). There are certain circumstances where you may be able to waive this requirement. You can check with your agent for more information. Regardless, it is generally a good idea to complete this form even if you have the option to waive.
2. Lead Based Paint Disclosure
If the property you are selling was built prior to 1978, you’ll be required to complete a Lead Based Paint Disclosure. This is a federally regulated requirement.
Questions? Ask away!