The list of FSBO documents that are required during closing

 Sell My House Fast - GSAP: Which FSBO documents should home sellers must have when closing the deal?

Greenville, United States - /Sell My House Fast Greenville -Spartanburg-Anderson-Pickens/

FSBO paperwork needed during closing

The right paperwork during closing can ensure a smooth sale minus the hassle and confusion. Sell My House Fast - GSAP, a cash buyer in Greenville, lists down the important documents that FSBO sellers must have to close the deal.

1. Affidavit of the title - This document is signed by the seller on closing day declaring that the property is free of any liens and that there are no title defects or pending matters that can impact the lien. This document protects the buyer from acquiring a property that is plagued with legal and ownership issues. 

2. Deed - A deed documents the legal transfer of a property. This document is notarized and filed with the right authorities to close the deal. 

3. Closing statement - This is a settlement sheet that documents all the costs, taxes, and other transaction fees related to the sale. This document clarifies the fees owed by different parties and is more like a receipt of the entire sale transaction. A real estate agent or a title company can help both parties create this document accurately. 

4. Property tax records - available at the county assessor’s office or the state department of revenue, the tax statement shows any outstanding taxes that need to be paid by the seller and what the buyer would need to pay after the sale.  

5. Final walk-through form - A final walkthrough before the settlement of the transaction is a good idea for both the seller and the buyer. It is an assurance that all the agreed-upon repairs and other conditions have been fulfilled by the seller. This final walk-through is often avoided as the closing date approaches but it is advised. This document should record whether the buyer did a final walkthrough or not and sign the same.

6. 1099-S tax form - A very important and legal document, this tax form mentions any capital gains taxes a seller will owe on the home sale. Available on the IRS website, this form must be filled out unless the seller is exempted. If the property sales price is more than $250,000 for an individual or $500,000 for a married couple, regardless of the amount of gain, the IRS requires the sale to be reported on Form 1099-S.

With this multitude of documents, an FSBO sale can be quite overwhelming. But sellers always have the choice of working with a cash buyer and delegating all the paperwork responsibility, not to mention the advantage of a swift closing date.

Why Sell My House Fast - GSAP?

If you are looking to sell your house fast, Sell my House Fast - GSAP is the most reliable cash buyer in Greenville, Spartanburg, Anderson, and Pickens. The BBB-accredited, local business can offer fair and hassle-free deals to sellers by skipping the middlemen such as banks and agents. Home sellers don’t have to worry about repairs, commissions, loans, and paperwork with a cash buyer like Sell My House Fast - GSAP. 

Get a “cash for your house” offer swiftly by following 3 simple steps. Fill out a form with contact information or call us, receive a fair cash offer within 24 hours, and choose a closing date as early as 14 days after accepting the offer.

To sell your house fast, call Sell My House Fast GSAP at (864) 428-9197 or email at myles@sellyourhomeupstate.com

Tips to ensure a stress-free final walk-through before closing

 How to make the final walk-through easy and stress-free before closing?

Greenville, United States - /Sell My House Fast Greenville -Spartanburg-Anderson-Pickens/

Final Home Inspection Tips for sellers

Whether you are an FSBO seller or you have hired a real estate agent, the final walk-through can be a little nerve-wracking as deals are known to fall through or the closing gets delayed due to last-minute issues. Sell My House Fast - GSAP, a cash buyer in Anderson, shares some tips that can help sellers manage the final walk-throughs smoothly and close the deals in time.

Final walk-throughs typically occur once the seller has moved out of the house and the buyer wants to inspect the house before closing the deal. The buyer would like to ensure that all the agreed-upon repairs have been completed as per the purchase agreement, no new damage has occurred since the purchase agreement, and any items such as fixtures or faucets that were a part of the sale have not been removed.

For sellers, it is important to know and anticipate the problems that may occur during the final walk-throughs and be prepared for them. Here are some tips:

1. Schedule the final home inspection almost at the closing date

Sellers should aim to keep the final walkthrough on a date and time as close to the actual closing as possible. Contact the buyer in advance to schedule the date and time. 

2. Know seller rights at the final home inspection

The sale price was frozen when the purchase agreement was signed. A final walk-through is not about a renegotiation of the sale price. Sellers must not entertain it as the negotiation window is long over. 

3. Caveat emptor 

This term means that the buyer alone is responsible for checking the quality and suitability of goods before purchasing the house. Often during final home inspections, buyers start noticing flaws that they had not noticed before. This may compel them to reopen the negotiations. However, sellers must stand firm with the knowledge that the buyers had ample chances to address these issues when the purchase agreement was being drawn. Unless the flaw emerged after the sale was finalized, the seller is not obligated to entertain any negotiations or repairs.

It is, however, important to stay calm and diffuse the situation so the final walk-through doesn’t turn into an unpleasant situation leading to the deal falling through. The buyers are often stressed at this stage and must be handled gently. If they persist, they can be advised to consult with the lawyer since they are more likely to listen to their lawyer.

4. Complete the repairs mentioned in the agreement

A successful closing is dependent on the terms and conditions documented in the purchase agreement being met. Any obligation that a seller does not meet can lead to the deal falling through. If the seller has agreed on conducting certain repairs on the buyer’s behest and the legal agreement, the seller must stick to these commitments. In case of a delay, communicate to the buyer in time. 

5. Save the repair receipts

The receipts for all the repair work that a seller undertakes as per the agreement must be recorded. These can then be shared with the new owners so they can reach out to the contractors if there is an issue in the repairs in the future.  

6. Leave behind the items that are documented in the agreement 

Buyers often ask for certain items to be included in the purchase agreement. This could range from items affixed to the property such as fixtures and faucets to personal property such as a piece of furniture or a fancy swing the seller agreed to sell. Whatever item a seller agrees to leave behind must be left behind to avoid any last-minute disputes that can delay the closing or lead to the sale being canceled. 

Sellers can avoid all this hassle and uncertainty completely by opting for a swift cash offer with a reliable and experienced cash buyer like Sell my House Fast - GSAP.

Why Sell My House Fast - GSAP?

If you are looking to sell your house fast, Sell my House Fast - GSAP is the most reliable cash buyer in Greenville, Spartanburg, Anderson, and Pickens. The BBB-accredited, local business can offer fair and hassle-free deals to sellers by skipping the middlemen such as banks and agents. Home sellers don’t have to worry about repairs, commissions, loans, and paperwork with a cash buyer like Sell My House Fast - GSAP. 

Get a “cash for your house” offer swiftly by following 3 simple steps. Fill out a form with contact information or call us, receive a fair cash offer within 24 hours, and choose a closing date as early as 14 days after accepting the offer.

To sell your house fast, call Sell My House Fast GSAP at (864) 428-9197 or email at myles@sellyourhomeupstate.com

Sell My House Fast - GSAP-Tips to ensure a stress-free final walk-through before closing, Images - 6/7/22

 

Sell My House Fast - GSAP shares the list of FSBO documents that are required during closing, Images 6/6/22

 

Sell My House Fast - GSAP talks about the FSBO documents that are needed when the house is on the market / Images - 6/6/22

 

Some contingency clauses that can delay a home sale

 Sell My House Fast - GSAP: Unavoidable contingency clauses in contracts that can delay your home sale

Greenville, United States - /Sell My House Fast Greenville -Spartanburg-Anderson-Pickens/

5 contingency clauses that can delay a home sale

Traditional sales and their associated contingencies clauses are not an ideal selling method for owners aiming for a quick sale and closure. When the seller does not meet these clauses, the likelihood of a deal falling through becomes high. Sell My House Fast - GSAP, cash home buyers in Spartanburg, discusses these contingency clauses and how a home seller can avoid them.

A contingency in real estate refers to a clause in a purchase agreement specifying an action or requirement that must be met for the contract to become legally binding. Both the buyer and seller must agree to the terms of each contingency and sign the contract before it becomes binding. When the conditions of the contingency clause are not met, the contract allows one party (usually the buyer) to back out without legal or financial impact. 

1. Title – Before closing the deal, buyers may conduct a title search for their property or contact a title company to access a title report showing the property liens, ownership disputes, or so-called “title defects.” If there is a title issue, the buyer may insist on a title contingency clause in the agreement that makes the seller responsible for resolving the title issue. If the seller fails to meet the clause by the contingency date, the buyer can legally opt out of the contract without any liabilities.  

2. Inspection – The “due diligence” contingency gives buyers the right to get the property professionally inspected. From the electrical, plumbing, and structural to HVAC elements, a professional can inspect the interiors and exteriors of a property within a specified period to protect the buyer from a bad purchase. If the inspection report shows flaws, the buyers can either cancel the deal or ask for a discount or repairs from the seller. In this scenario, a seller may agree or disagree. If the seller agrees, it means more time and money investment to make repairs. If the seller refuses, the buyer backs out and takes back the earnest money. Now the seller has to look for another buyer.

3. Appraisal – When a buyer applies for a mortgage, the loan vendor will get the house in question appraised. An appraisal contingency ensures a property is valued at a specified minimum amount. In case it isn’t, the mortgage may get rejected, and the buyer may back out of the deal. This contingency is almost always a part of all real estate agreements, even in the absence of a financing contingency.

4. Mortgage/financing – This contingency grants buyers the time to obtain the funding to purchase the property. If the mortgage gets rejected, the buyer can walk away from the agreement. This contingency documents the period in which the financing will be acquired, failing which the buyer either backs out or requests an extension. If the buyer does not request an extension before the contingency date, the agreement remains valid, and the buyer has to purchase the property despite a loan rejection. 

5. Sale and settlement – This contingency makes property purchases dependent on the sale of another house. It also gives sellers the freedom to continue marketing their homes, stipulating that the buyer will be allowed to remove the sale and settlement contingency within a specified period (typically 24-48 hours) if the seller receives another offer. If the buyer cannot remove the contingency, the contract is terminated, the seller can accept the new offer, and the earnest money is returned to the buyer. However, if the seller doesn’t find a request, the contingency puts a seller at risk as there is no guarantee that the old house of the buyer will sell. 

Whether these contingencies protect the buyer or the seller, the fact remains that they make selling a house quickly very difficult and time-consuming. In a traditional contract, these contingencies are unavoidable. But home sellers can circumvent these contingencies by working with a cash home buyer like Sell My House Fast - GSAP. Sell your house fast and as-is to avoid the delays caused by contingencies.

Why Sell My House Fast - GSAP?

Now selling a home in Greenville, Spartanburg, Anderson, and Pickens is easier. Sell My House Fast - GSAP is an established cash home buyer that eliminates the middlemen such as agents, banks, and inspections and saves home sellers a ton of money and nuisance. The company makes cash offers and closes deals quickly, renovates the house, and sells it to new buyers. Homesellers can receive a “cash for your house” offer by visiting the website https://sellmyhousefastgsap.com/ and filling up a simple form with contact details. The company will then schedule a property viewing and make a fair cash offer within 24 hours. The home seller can choose a closing date after accepting the offer. The escrow and money transfer to the home seller will be taken care of within 14 days. It’s that simple!

To sell your house fast, call Sell My House Fast GSAP at (864) 428-9197 or email myles@sellyourhomeupstate.com

Sell My House Fast - GSAP lists the FSBO documents that home sellers must have

 GSAP Must-have FSBO documents for home sellers

Greenville, United States - /Sell My House Fast Greenville -Spartanburg-Anderson-Pickens/

5 FSBO documents you must have

If you are an FSBO home seller who wants to sell your house fast, there are some documents you can’t do without. Having the requisite documents ready will enable the buyers to make an informed decision and expedite the home sale. Sell My House Fast - GSAP, a cash home buyer in Anderson, highlights some important documents FSBO sellers must-have.

1. Completed Property Disclosures

Disclosure forms are pretty much the first step for FSBO sellers. It offers crucial information to buyers, but some states also require sales disclosures for sales to happen legally. A well-drafted seller's disclosure form will disclose all the material defects in a property, such as known defects, easements, presence of lead or toxins, and floodplain or wetland classification. This disclosure frees the seller from all liabilities.

2. Title Review & Commitment

Sellers can hire a title company to review the title of a home and provide a preliminary title report to prospective buyers. This helps determine any liens against the property or any unidentified co-owners who have not signed off on the sale. This information enables buyers to make their decision. 

3. Survey Location Report

Some buyers or state laws may require an up-to-date survey location report before a home sale is taken forward. This report is helpful as it makes a home more marketable by easily providing the requisite information to buyers. It is a general physical inspection of the property and is accurate to plus or minus a few feet. However, home sellers must note that this report is expensive and takes several weeks to be created by a land surveyor. 

4. Covenants, Restrictions, and Other Rules

Withholding information from a buyer is a sure-shot way to lose an offer. Therefore, home sellers must reveal any covenants, restrictions, or HOA (homeowner’s association) or POA (property owner’s association) rules to a prospective buyer. FSBO sellers can contact the HOA/POA board, county recorder, or a title company to access these documents for their buyers to review. 

5. Purchase Agreement

A purchase contract is a legally binding written agreement between the buyer and seller that can be drawn by a common real estate agent or an attorney. These contracts include comprehensive legal descriptions of several terms of the agreement, such as purchase price, down payment, closing date, disclosures, contingencies, etc. 

To avoid disputes, all the important terms are comprehensively written in a purchase agreement. The agreement will also lay down the processes to handle any potential disputes.

The FSBO method is an intensive and time-consuming method of selling a house. It becomes even harder if the home seller doesn’t have any insights into the real estate market and the resources to manage a profitable sale. Instead of the traditional listing method or FSBO, home sellers can make their life easy and find a reliable cash buyer, such as Sell My House Fast - GSAP in Anderson.

Why Sell My House Fast - GSAP?

Sell My House Fast in Greenville, Spartanburg, Anderson, and Pickens makes home selling easier. The company buys the home fast, renovates it, and sells it. By eliminating the middlemen such as agents, banks, and inspections, the company saves the home sellers a lot of money and hassle. Homesellers can receive “cash for your house” offer swiftly by following 3 simple steps:

1. Fill out the form - the home sellers can request their cash offer by filling out the form with contact information or directly calling the team.
2. Receive cash offer - the company will schedule a property viewing and make a fair, no-obligation offer, all-cash offer within 24 hours.
3. Choose closing date - Within 14 days of accepting the offer, the company can close escrow and transfer the money to the home seller.

To sell your house fast, call Sell My House Fast GSAP at (864) 428-9197 or email at myles@sellyourhomeupstate.com