Do you need to sell your house in Saint Paul? If your looking for a faster sale option that is hassle free, consider reaching out us. Here at FastPath Home Buyers, We buy houses in Saint Paul, and throughout the greater state of Minnesota. When you work with us, your guaranteed a fast sale, which may not always be the case with a real estate agent. In addition to this, you also get to sell your house “as-is” (meaning in any condition. No cleaning! No repairs!), and we’ll close on your house in as little as 7 days. So reach out to us today by calling (612) 351-2384, for the fastest and easiest sale process of your life.
The process will be much smoother if you are prepared from the start by organizing all the relevant paperwork.
Paperwork is a given, during any type of legal transaction. It is no different when you’re selling your house in Saint Paul. Here are 7 documents you’ll want to prepare before you put your property on the market.
This may seem like the most obvious piece of ink, but here are a few things to consider so that you ensure that your contract is legally binding. To give you the ability to settle any disputes after closing, be certain it is signed by both parties. Details on this document for your Saint Paul house need to include: the closing date, price and the date of occupancy. Additionally, any conditions for termination as well as inspection dates much be clearly stated. Out of state buyers necessitate your being aware that a uniform Commercial Code governs commercial transactions that cross state lines.
Disclose! Disclose! Disclose!
Before you begin talks with your buyer about an offer, ensure that you have prepared a Property Disclosure. A property disclosure will detail any known defects or malfunctions on the home. Failure to do so can lead to legal entanglements and expenses when selling your house in Saint Paul.
The deed to your property designates its legal ownership and must be presented to the buyer for careful review. The deed for your house in Saint Paul must be transferred after the sale to the name of the new owner.
During home sales, timing may not always work out. Should you need to stay in the house after the closing date, you will need a post-occupancy agreement. Conversely, should the buyer need to be in place prior to the completion of the sale of your house in Saint Paul, this will require a pre-occupancy agreement.
Third-Party Financing Clause
When you need to sell, you could consider getting a mortgage on your house as another source of financing for your buyer in Saint Paul. Should you do so, your third party financing clause or financing addendum should be attached. In the event your buyer’s traditional mortgage application for the remainder of the financing is denied, you’re protected.
The promissory note, obtained from the buyer, is a contract written to clearly outline the rights and duties of the parties, which must be signed and dated. For buyers who are purchasing through non-conventional means, this is extremely important. It enables buyers to use the seller as the financier, with the property itself acting as the security for the loan. This document should outline the amount of money to be paid, the date to be paid, or detailing the installments to be paid to the holder or payee.
HUD Laws now require very specific details of the transaction to be outlined in a closing or settlement statement. At least one day prior to the closing, the buyer has the right to review this statement. This ensures that he or she is made aware of just what they’re being charged in fees at the closing and in financing interest for the term of the loan. Strict adherence to these laws will help you to avoid legal nightmares in the future. Be prepared at the closing, should the solicitor request you to show your proof of identity. The documents should be examined carefully before being provided to the buyer. The broker should verify the information and offer any input should they find errors or information lacking in the documents.
Ready to close on the deal? Gather the 7 documents you need when selling your house in Saint Paul and give FastPath Home Buyers a call at (612) 351-2384 or send us a message at any time! We can close on any deal in as little as 7 days… Contact us Now!