Selling a home? Here's what you should expect to sign.

Selling a home? Here's what you should expect to sign.
Photo by Romain Dancre / Unsplash

So you're getting ready to sell a home, and you're the type of person that doesn't want to pay too much in fees when selling your own – the DIY type – especially if you're trying to sell a home online without a realtor.

As you look ahead at saving fees, it's important to also get a better understanding of the legal side of selling a home. Specifically, what should you expect to sign when selling a home?

There is lots of paperwork when you sell a home – some required, and others optional – and one thing all these documents share is that they're all steps closer to finalizing your sale and putting more money in your pocket.

Check out below for the 10 most common documents you should expect to sign when you go to sell your home online FSBO:

  1. Listing Agreement: This contract between you and your real estate agent authorizes them to market and sell your property.
  2. Property Disclosure Form: Discloses any known issues with the property, such as structural problems or environmental hazards.
  3. Purchase Agreement/Offer to Purchase: The formal offer from the buyer, which includes the terms and conditions of the sale.
  4. Counteroffer: If the initial offer isn't acceptable, you may issue a counteroffer outlining new terms.
  5. Purchase Agreement Addendums: Any additional agreements or modifications to the original purchase contract.
  6. Home Inspection Report: Results from the buyer’s home inspection, which may include repair requests.
  7. Title Report and Title Insurance Policy: Ensures the property title is clear of liens and claims, and provides insurance against future disputes.
  8. Closing Disclosure: A document detailing all the costs associated with the sale, provided to the seller a few days before closing.
  9. Bill of Sale: Transfers ownership of personal property included in the sale, like appliances or furniture.
  10. Deed: The legal document that transfers ownership of the property to the buyer.
  11. Loan Payoff Statement: If you have a mortgage, this document shows the amount needed to pay off your existing loan.
  12. Settlement Statement: A detailed list of all the costs and credits associated with the sale.
  13. 1099-S Tax Form: A tax form that reports the sale of real estate to the IRS.

Did you know our FSBO Course Pro+ members get access to the document library that has ALL of these forms already included?