The stack of paperwork you’ll encounter when selling your house in Baltimore is a big one. There are papers you’ll need before listing, documents for listing, documents when an offer is made, and documents for the closing. While it might seem like a lot, don’t fret! Handling one piece of paper at a time will make things easy for you. Get your ducks in a row to sell your house in Baltimore!
Selling your house in Baltimore will require a lot of paperwork, but you don’t have to feel overwhelmed. In this post, we will review some of the paperwork required to sell your house in Baltimore. Keep in mind that there are different requirements depending on where the house is located, so you’ll want to confirm everything with an agent or lawyer before you begin the selling process.
Documents For Listing
A CMA report is known as a competitive market analysis. The CMA will provide you with information on recent area sales so you can determine what you should be asking for your house. Before listing your house, you’ll want to obtain a CMA for your property. If you are listing your house on the market with a Baltimore real estate agent, your agent should provide this information for you in advance so you know what price you’ll be asking for your home.
Your listing contract will give your agent the exclusive right to sell your house in Baltimore. Before agreeing to a listing, make sure you understand what is included and what isn’t. Questions you can ask are things like:
- Will you use professional photography?
- What sort of recommendations do you have for my house prior to listing?
- What other fees do you charge besides your commission?
- What marketing services do you utilize?
- How long is the contract for?
In addition to these documents, some states have special items they require while the property is listed. Make sure you have everything required so you aren’t subject to any costs or fees!
Any defect or problem with the house will need to be disclosed to your potential buyers. You’ll need to provide this information on a disclosure statement. This is the law and can be considered fraud if known items aren’t disclosed. Don’t attempt to hide anything when selling your home. This is a big no-no.
Receipts and Repair History
Your buyers are going to know what was done and when. They’ll want to know who was used, what services were performed, who did the work, and what sort of guarantees are offered. It’s a good idea to keep a folder of all of your home repair documentation so everything is in one spot and easily accessible. This is especially important if you have made any significant improvements, or replaced any major systems in the house. Buyers will almost always ask for the age of the roof and HVAC systems, and if you have any warranties that will transfer. If so, it gives the buyer a lot of peace of mind moving forward.
Preliminary Title Report
A preliminary title report will show your potential buyers that the house is owned by you, that you are up to date on your taxes, and that there are no liens against the property that can impede the sale process. This isn’t standard practice in Baltimore, but may be in other parts of the state. Generally speaking, title work is opened with you sign a contract on your house.
Your buyers will want to know about the home warranty as well as the warranty of any appliances that are included in the home sale. Not everyone has these documents, consider it a bonus if you do.
Paperwork After An Offer
A purchase offer lays out the initial terms and framework of the deal. It expresses your buyer’s intent to buy. It is not the final contract as the terms of the purchase agreement may change as more is discovered about the property.
Pre Approval Letter/Proof of Funds
This should accompany any purchase offer. This is how you’ll know the buyer is qualified to pay what they are offering for your house. Most often this will come in the form of a pre approval letter from a local bank.
If your buyer is working with a lender to purchase your home, an appraisal will be required. If the house appraises for less than what is being offered, you may find yourself in negotiations with your buyer and their bank, or the sale may end up falling through completely. (With a direct sale to Impact Home Team 410-824-1687, you won’t have to worry about an appraisal or the deal falling through.)
The inspection report will show if there are and structural problems, infestations, or issues with the property’s systems that need to be dealt with. If there are problems with the house that weren’t mentioned in the disclosures, your buyer will negotiate on price or ask you to repair before the sale is finalized.
The purchase agreement is the final contract to buy the home. It lays out all of the details of the transaction and protects all parties involved. It will clearly lay out what is being paid, what is owed, and the timeline for the selling process.
Here in Maryland there are a lot of other addenda that will go along with the purchase agreement. These outline local jurisdictions, governing laws, First-Time Home Buyer information, and many more.
The deed is the final document in the home sale. It legally transfers ownership from one person to another. The deed will need to be filed and recorded as quickly as possible. The title company will have this document prepared for you to sign at the closing table, and they will record this for you on your behalf.
Leave The Paperwork To Us Instead!
The paperwork mentioned above covers just a few of the things you will need to sell your house in Baltimore the traditional way. That said, when you sell your house to Impact Home Team 410-824-1687, all of the paperwork will be handled for you! You won’t have to waste time wondering if you have the right document, if you filed it with the right person, or if you filled it out correctly. We are very experienced buyers who can help you through the entire process making sure everything is handled legally and timely. If you’re ready to sell your house fast in Baltimore, let us provide you with a great offer! We’ll handle all of the details to make the sale a success!