HOW TO BE PREPARED AS A SELLER

  • Documents That Your Selling Attorney will Need ASAP
  • Copy of your Purchase Contract with your Agent(s) Name, Phone, Fax; the Buyers Attorney, Phone, Fax.
  • Lender for your Buyer, Contact Name, Phone Fax.
  • Your Contact Phone Numbers and Email address for Easy Communication.
  • Abstract of Title:  This is the document that records all of the history/liens against the property. Most likely your current lender will have this document and should not charge you a fee to receive it. In the event that you cannot locate the abstract, you may refer to your statement of sale (also known as a HUD-1) and this information should be listed in this document.
  • A copy of your existing survey. It costs less to update the existing survey than to produce a new one.
  • Current Property Tax Bills-School, County and Village (if applicable)
  • Current Mortgage Statements- This allows your attorney to have all of your account information to order a final mortgage payoff. Your attorney may also need your signed authorization to obtain this information from your lender.
  • If you purchased your house with a spouse joint tenant who is now deceased, your attorney will need a copy of the death certificate.

SELLERS NET

Selling Price:

Less real estate commission

Less Seller concessions (if applicable)

Less first mortgage payoff and any Second/home equity loans

Less deed stamps ($4 per $1,000 purchase price)

Less Abstract/Survey update

Less attorney fees

Less back taxes

Less Miscellaneous expenses   i.e. : Water test, septic test, repairs, and radon mitigation

 

Equals NET Proceeds- Plus reimbursement for taxes paid by you already

                                     Plus fuel oil/fire wood adjustment

 

 

 

 

 

 

 

 

 

Barbara A. Stevens

Barbara A. Stevens

Licensed Real Estate Salesperson
Contact Me

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