Paperwork Needed for Home For Sale By Owner (FSBO) in Northwest Indiana and Greater Chicago Illinois Area

Do the words “ For Sale by Owner” sound appealing to you? Would you like to try selling a home without a realtor? If it is time to move to another house, now might be the time to give “home for sale by owner” a try. 

Required Documents for Selling a House By Owner

Be aware that there are forms that you must provide to the seller. Some are federal requirements, others are state or county. Be sure you clarify the requirements for your specific sale. Working with World Class HomeBuyers can help take this concern off your mind.

  • Residential Property Disclosure Form

You will need to complete a form disclosing the condition of the property you are selling. Some states need a general statement. Others require a specific major item checklist with details. 

  • Lead Paint Disclosure Form 

If any part of the home was built before 1978, the seller must disclose that to a potential buyer. If the lead paint problem has been remedied, provide that documentation also.

  • Title Reports

Prepared by title companies. Call the company that holds the title to your house and request a preliminary search. This will show that you have ownership of the property. It can take 7-10 days to research and provide this information. This proves to prospective buyers that you are the rightful seller.

Home For Sale By Owner (FSBO) in Northwest Indiana and Greater Chicago Illinois Area
  • Deed 

A deed is a document that outlines the property and its boundaries. Use it to sign off the property to the buyer. You may get it from your mortgager or county land department.

  • Survey Location Report

A Survey will clarify the property lines or the acreage the property entails.

  • Contingencies List

List of the items that must occur before closing the sale such as an inspection, repairs, or sale of another home.

  • Covenants, Restrictions, HomeOwners Association or Property Owners Association Rules 

To inform potential buyers of any restrictions or rules that may apply to the house or property. These must be revealed prior to selling a house or can void the transaction.

  • Prior Utility, water, and other monthly bills

Most buyers will request copies of the billings for regular monthly services

  • Sales Contract

There are several things you want to include in your sales contract:

  1. Details of the property itself. The address, square footage of the house, acreage of property, and other buildings on the land.
  2. Sales Price- Purchase Price
  3. Amount of earnest money, details on financing, and closing costs
  4. Any Contingencies
  5. Taxes, assessment, and utilities owed
  6. Legal recourse if the contract is breached

Selling a Home Without a Realtor

Home selling by the owner has become a popular way of selling a house. It is a good way of selling a home without a realtor to save on agent commissions, but it is not for everyone. It works best for families with an adult that is not employed. You need to be available to show the house and answer calls at any time. 

To successfully sell a home by owner, you must also be good with details and record keeping. Many of these documents require more than one phone call to get the information sent. When the paperwork is finally received, it is not always what you need. Efficient follow-up is a necessity. 

How We Can Help You

World Class HomeBuyers can solve both of the previously stated problems for you. We can save you the agent commissions, paperwork chasing, and time commitments. Our real estate professionals offer two ways to work with you. 

  1. We offer you a one-time cash payment for our assessed value of your home. 
  1. If you have an offer, let us make a counteroffer. We may compete or beat that offer. Then you come out ahead without paying a commission or closing costs. 

World Class HomeBuyers

You get to choose how you want to move forward in selling your home. World Class HomeBuyers is here to make the process easy, quick, and headache-free. To learn more about our highly beneficial service, reach out today! We look forward to hearing from you and to getting your house SOLD. 

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Get Your Fast, Fair Offer Today!

START HERE: We buy houses in ANY CONDITION. Whether you need to sell your home fast for cash or list with a local agent for top dollar, we can help.
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *