Selling your house in Lubbock involves navigating through mountains of paperwork. You’ll encounter documents before listing, during the listing process, when receiving offers, and at closing. While it might seem overwhelming, remember that tackling one document at a time makes the process manageable. Prepare yourself properly to successfully sell your house in Lubbock!
The paperwork involved in selling your Lubbock property can be extensive, but there’s no need to feel stressed. In this guide, we’ll break down the essential documents required when selling your house in Lubbock. Remember that requirements vary by location, so it’s always wise to verify everything with a real estate professional or attorney before beginning your selling journey.
Documents For Listing
CMA Report
Before putting your house on the market, obtaining a Comparative Market Analysis (CMA) is essential. This report provides valuable insights into recent sales in your area, helping you determine an appropriate and competitive asking price for your property.
Listing Contract
A listing contract grants your real estate agent exclusive rights to sell your Lubbock property. Before signing this agreement, thoroughly review what services are included and excluded to ensure you understand exactly what you’re committing to.
Beyond these standard documents, some states require additional paperwork during the listing period. Make sure you’ve completed all required documentation to avoid potential penalties, fees, or delays in your selling process.
Disclosures
You’re legally required to disclose any defects or problems with your property to potential buyers through a disclosure statement. Failing to disclose known issues isn’t just unethical—it can be considered fraud and lead to serious legal consequences.
Receipts and Repair History
Buyers want comprehensive information about your home’s maintenance history—what repairs were done, when they were completed, who performed the work, and what guarantees might still be in effect. Maintain an organized folder containing all repair documentation to easily provide this information when requested.
Preliminary Title Report
A preliminary title report assures potential buyers that you legally own the property, have paid your taxes, and that there are no liens or encumbrances that could complicate or prevent the sale from proceeding smoothly.
Warranty Information
Buyers are interested in any existing warranties—both for the home itself and for any appliances included in the sale. Having this information readily available demonstrates transparency and can be a selling point for your property.
Paperwork After An Offer
Purchase Offer
A purchase offer outlines the initial terms and structure of the potential deal, expressing the buyer’s intention to purchase your property. Remember that this isn’t the final contract—terms may change as the buyer learns more about your property through inspections and appraisals.
Appraisal
When buyers finance their purchase, lenders require property appraisals. If your home appraises below the offered price, you may face challenging negotiations or even risk the deal falling through entirely. (By selling directly to Electrum, you can avoid appraisal concerns completely, as we buy properties fast with cash, eliminating this common roadblock.)
Inspection Report
The inspection report reveals any structural problems, infestations, or other issues with your property. If inspectors discover problems you didn’t disclose, buyers typically request price reductions or repairs before finalizing the purchase—potentially extending your timeline and adding unexpected costs.
Purchase Agreement
The purchase agreement serves as the final contract for the home sale. This comprehensive document details all aspects of the transaction—including payment terms, obligations, and timelines—protecting all parties involved in the sale process.
Deed
The deed represents the final step in your home sale, legally transferring ownership from you to the buyer. This crucial document must be filed and recorded promptly to officially complete the transaction and update property records.
Leave The Paperwork To Us Instead!
The documents we’ve outlined only scratch the surface of what’s required for a traditional Lubbock home sale. However, when you sell your house directly to Electrum, we handle all the paperwork for you! No more worrying about having the right documents, filing them correctly, or completing forms properly. As experienced cash home buyers specializing in solving real estate problems, we guide you through the entire process, ensuring everything is handled legally and efficiently. If you’re ready to sell your Lubbock house and get your freedom back, let us provide you with a fair, win-win cash offer! We’ll manage every detail to make your sale smooth and successful!