Home For Sale: List of Paperwork Buyers And Sellers Of A Home Should Have Ready

I recently came across a piece on Trulia.com in regards to paperwork for home buyers and home sellers. The discussion below is not exhaustive, but gives those that are thinking of buying or selling a home an idea as to the main documents they will need.

Even though the real estate market is somewhat sluggish, it is best to be prepared because you just never know. Things still tend to happen quickly, so I would recommend having the following paperwork handy from the beginning of the process.

Identification, such as a driver's licence, passport, etc. Lenders and title companies need to be sure the buyer and seller are who they say they are.

Paycheck stubs are required for those seeking a mortgage as well as "short sale" sellers who need to show certain financial hardships.

Bank account statements going back two months for both those getting a mortgage and "short sales".

W-2 forms or tax returns for the past two years.

It is important to keep paperwork current as loan underwriters are known to ask for updated information between accepted contract and actual closing on the home purchase.

Quitclaim deed for married buyers purchasing homes they plan to own as separate property as well as married sellers selling homes that they own separately. The deed signs away all interest they might have had over the selling owner.

Divorce decree for buyers and sellers to ensure they have the right to sell or prove solo status.

Gifting need to confirm in writing the money is a gift and not a loan. The bank wants to be sure the gift came from a relative and that it should not be factored into the debt load.

Compliance certificates are mostly for sellers as some local governments require various condition requirements be met before the property is transferred.

Mortgate statements to be produced by seller with the mortgatge. The title company will need to use them to order payoff demands who has to get paid before title can be transferred.

If you are thinking of selling or buying a home, or require more information, please feel free to contact me. Please text me your name, phone number and e-mail address to the number below and I will provide information requested.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty