Welcome back to Part 2 of the series on the essential documents needed to sell your home. Part 1 covered the initial documents you should gather before listing your property.
As you progress through the selling process, additional documents become relevant. This post will cover documents you may need later in the process.
Knoxville Real Estate Market Watch
As of June 2023, the median list price for homes in Knoxville was $425,000. Real estate data changes daily. If you need to buy or sell a home in the Knoxville area, please click here to contact us.
The purchase agreement is a legally binding document outlining the terms and conditions. It includes the purchase price, contingencies, the closing date, and other terms negotiated between you and the buyer.
Depending on the terms of the purchase agreement, various contingency documents may be required. These could include documents related to the buyer’s loan approval, home inspection results, appraisal reports, etc.
Most states require sellers to disclose specific information about the property’s condition. It includes known defects, past issues like water damage or pest infestations, and environmental hazards.
The buyer’s lender typically requires a professional appraisal to determine the property’s fair market value. It ensures they are not lending more than the property is worth.
If you agree to complete repairs as part of the negotiations, keep records of the work done and any related expenses. Buyers may review documents to verify repairs.
Offering a home warranty to the buyer can be an attractive selling point. If you decide to provide one, keep the warranty documents ready for the buyer to review.
Some areas require a CO to verify that the property complies with local building codes and is safe for occupancy. If the property is in a place requiring a CO for a home’s resale, you will need to obtain one.
Work with a qualified real estate attorney or title company to ensure all necessary documents for transferring ownership are correct.
Keep a record of photos and videos taken during the listing process. This documentation can be useful in disputes about the property’s condition at the time of sale.
Are you considering buying or selling a home in the Knoxville area? We’d love to help you! Please click here for our contact page, and we’ll reach out to you promptly.
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