What Documents do I Need to Dig Out Before Listing My House for Sale?

1. Mortgage Statement – you will need your mortgage statement initially for your Realtor to run a Net Sheet for you. A net sheet shows you the amount of $ you should walk away with at closing. Make sure you are comfortable with this amount before listing your house for sale! You will also need your mortgage statement to give the title company your loan information for them to call and get an official payoff from the lender for closing.
2. Survey – When you previously closed on your property, in most cases, you were given a survey by the previous owner or received a new survey. This is a black and white drawing that shows the lines and boundaries of the property. If you haven’t made any changes to the footprint of the property, the survey should be able to be reused by the new buyer’s lender and the title company. Having this could save you the cost of purchasing a new survey which is usually $500+.
3. Deed Restrictions/HOA Documents – If you live in a neighborhood with Deed Restrictions and/or a Homeowners Association then the associated documents will be very important to relay to a potential buyer. These documents describe the do’s and don’ts of the neighborhood and any fees associated with the HOA.
4. Power of Attorney – If you have a POA related to the property it’s important to find a copy of these documents to show proof that you are the person that can sign documents pertaining to the home. Your Realtor may want a copy prior to listing the property and the title company will need a copy prior to closing.
5. Inspections and Insurance Claims – If you’ve had an inspection done on the property in the past several years now is the time to pull out that report and consider fixing anything that was written upon an inspection previously so that it doesn’t come up again for the buyer. If you’ve ever filed a claim on your homeowner’s insurance, it could pop up on the buyer’s clue report. You’ll want to have any insurance claim documents available as well as any documents or receipts showing what you did to rectify the situation.

Depending on your situation there may be additional documents you may need to present that would be helpful. Getting all of your ducks in a row prior to listing your house will help make the process flow smoothly as well as giving your Realtor answers to questions that potential buyers may have. Your Realtor being knowledgeable about the property and being able to answer questions quickly can be the difference between a buyer making an offer or not!