1. Property Disclosure Form. This document shows the buyer what is wrong with the property. This is very important. If you don’t tell the buyer everything that is wrong and they find out later that you knew, you could find yourself involved in a lawsuit. Make sure you have the buyer sign a property disclosure prior to selling the home and that you keep a copy incase they come back later saying that you did not tell them.
2. Sales Contract. This is an agreement between the seller and the buyer that cover the terms and conditions of sale. (i.e. who is paying for; home warranty, title policy, survey, what the sales price is, when closing is going to be.)
3. Sales Contract Contingency Clauses. This is additional paperwork or “attachments” that maybe be needed with the contract. It cover such items like; the buyer’s needs to sell their home before purchasing the new one.
4. Pre- and Post-Occupancy Agreements. Sometimes the seller needs more time in the house past the closing date. So you would basically signing a lease from the buyer for the time the seller needs to move. Or sometimes the buyer needs a place to live because they sold their house before the closing of the new house. So they will sign a pre-occupancy agreement leasing the home until the date of closing. This document covers the terms and costs of occupancy once the sale closes.
5. Lead-Based Paint Disclosure Pamphlet. Homes built before 1978, have to provide the pamphlet to the buyers of the house. The buyers most sign a statement indicating they received the pamphlet.
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