7 Things You Need When Selling Your House Fast in Aurora

Need to sell your house fast in Aurora? Things will move along much more swiftly and smoothly if you are prepared from the start by organizing all of your documents.

Paperwork is a given during legal transactions and it’s no different when you’re selling your house in Aurora. You’ll want to have the following 7 things in hand, which are commonly required in the home selling process before you put your house up for sale.

Contract

For a legally binding contract and the ability to settle any disagreements after closing, be sure it is signed by both parties. The document for your Aurora house should include, the date of closing, purchase price and occupancy date. Also, add any conditions for cancellation 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!

A full property disclosure form will check list any known issues or problems the home has. Knowingly not disclosing these facts can lead to legal trouble and expenses when selling your house in Aurora. 

Title

The deed to your house declares the legal ownership and must be presented to the buyer. After closing, the deed for your house must be transferred to the name of the new owner.

Occupancy Rider

You’ll want to have addendum to the contract that details responsibilities for any rent, utilities, additional costs or repairs, as insurance policies usually do not cover this period. 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 the home before the completion of the sale, 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 Aurora. Should you do so, your third party financing clause or financing addendum should be included. In the event your buyer’s traditional mortgage application for the remainder of the financing is not approved, you’re protected.

Promise

The promissory note from the buyer, is a legal contract written in detail 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 mortgagor, with the property itself acting as the collateral for the loan. This document should outline the amount of money to be paid and the  installment dates to be paid to the holder or payee.

Settlement Statement

HUD Laws require the 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 closing agent request you show your proof of identity. The documents should be carefully reviewed before being provided to the buyer. The broker should verify the information and offer any feedback should they find errors or information that needs to be included in the documents.

Are you ready to sale and close on your house? Start getting the 7 documents you’ll need when selling your house fast in Aurora and give Real Estate Rescue a call or text at (773) 676-2355 or send us a private message at any time!

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