tax basis real estate in idaho

How To Sell A House By Owner – Paperwork Needed To Do It Right

How To Sell A House By Owner – Paperwork Needed To Do It Right

If you want to sell a home by owner – a process known as (FSBO) – you can save money and time, but you’ll need to do some extra diligence and research. If you want to know how to sell a home by owner, this guide can help.

The first step is to gather the necessary documents. Below is a list of documents needed to sell a house privately:

  • Survey of the property’s boundaries
  • Plans and permits for all major home improvement projects, including additions
  • Certificates of occupancy
  • Loan documents
  • Recent utility bills
  • Most current property tax bill
  • Proof of homeowner’s insurance
  • Title documents
  • Floor plan
  • HOA covenants (if applicable)
  • Lead paint disclosures

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You may want to have multiple copies of each of these documents on hand. That way, you can let potential buyers review them when they are considering buying your house. Doing your due diligence arms you with information such as “how much is my house worth now” and gives you the knowledge you need to succeed.

If you’re new to the process of how to sell a house by owner, it is important that paperwork be given its proper role and attention because real estate is physical, but the sale is all paper.  Beyond the paperwork you need to have on hand for potential buyers, there are other documents needed to sell a house privately.

You will need to complete a disclosure statement that provides information on known issues or defects with the property so that the buyer is aware of any problems. And, of course, you will need a contract between the buyer and seller, outlining the specifics of the sale. At a minimum, the contract should specify the following:

  • Type of property
  • Purchase price
  • Names of the buyer and seller
  • Closing date
  • Terms of the borrower’s financing
  • Contingencies such as home inspection
  • Date of move out and who is responsible for expenses if you are remaining in the house after the closing date (called a “lease-back agreement”.)

Having the right paperwork can protect your legal rights and ensure that the sale is completed smoothly, so don’t cut corners on this step! If you want to know how to sell a house by owner paperwork is a necessary evil.

If you are in the market to sell your house, we can help! We know how to sell a home by owner and have been in this business for many years. Our professionals can answer the question “How much is my house worth now” and provide other guidance. Give us a call or submit our online form to tell us some basic information about your situation and find out if we can partner with you to sell your home quickly and at a fair value.


Northwest Home Buyers - Idaho

 

If you find yourself facing foreclosure and unable to find tenants or maybe just inherited a home, in any case, we can help you sell your home in Boise in 7-10 days. If you’re thinking of selling and are exploring your options, consider selling directly to us.

Call our team at (208) 214-3365 

Fill out our quick home seller information form.

If you don’t want to go through the hassle and headache of selling to the market, then we might be able to help. We’ll give you a quick call once we find out a bit more about your property in Idaho, and make you an offer on your home the same day.


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