7 Documents You Need When Selling Your House in Kansas City

Need to sell your house in Kansas City? It’s a lot easier to do this when all of your documents are in order from the start.

Paperwork is a given during legal transactions and it’s no different when you’re selling your house in Kansas City. The following six documents are generally used when selling your home and something to consider before you put your home on the market.

Contract

For a legally binding contract and the ability to settle any disputes after closing, be certain it is signed by both parties. Details on this document for your Kansas City house need to include, the closing date, price, date of occupancy. Additionally, add any conditions for termination as well as inspection dates. Out of state buyers necessitate your being aware that a uniform Commercial Code governs commercial transactions that cross state lines.

Disclose! Disclose! Disclose!

If you’re selling your home as is assistant strictly speaking necessary. However, it is still in your best illegal interest to disclose anything that may be wrong with the property to the buyer. If anything related to health and safety is discovered, this could lead to lawsuits in the future. So in order to make sure that you’re protected in for peace of mind, it’s best to disclose all known defects of the property to the buyer. Failure to do so can lead to legal entanglements and expenses when selling your house in Kansas City. 

Title

The deed to your property designates the legal ownership and must be presented to the buyer for careful review. The deed for your house in Kansas City must be transferred after the sale to the name of the new owner.

Occupancy Rider

Selling a house that you were living in or that has a tenant in it. Presents some problems with timing. If you’re going to need to stay in the home after the home is sold, you want to make sure to get that in writing with the post occupancy agreement. At Green Sparrow Properties we do things like this all the time and are happy to make the arrangement flexible for you, but in order to make sure that everyone’s interest are protected, this needs to be in the contract. 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 Kansas City, 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 Kansas City. 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.

Promise

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, as it enables using the seller as the financer, 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.

Settlement Statement

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, in order that consumers are 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 6 documents you need when selling your house in Kansas City and give Green Sparrow Properties a call at 816-800-9238 or send us a message at any time!

if any of this is a little too complicated or confusing, also, feel free to give us a call. When we purchase the home. We’ll handle all the paperwork for you and use a third-party neutral title company to make sure that everything is done legally and timely. No need to stress about selling your home. While the paperwork is important, know that you can use a trusted resource such as Green Sparrow Properties to sell your home simply, safely, and effectively.

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