Whenever you are selling or buying your property you can never make mistakes because if you do make mistakes not only you are going to get yourself in a lot of financial trouble. Which essentially means that you are going to lose a lot of money. But you are also going to be held liable by law. You should know that most of the real estate transactions and the real estate industry is governed and managed by the laws created by the state and the federal government. If any of these laws are not fulfilled, the governments are powerful enough to levy a fine, or even just confiscate your property at any point. Therefore, you need a real estate agent that is knowledgeable enough to make sure that all the decisions that you do make regarding your real estate property are the best decisions possible and you are protected in all these circumstances.
If you are a first-time seller or first-time buyer, and you are just about to make your first transaction in the world of real estate, make sure that you have all the information in the world and you are as equipped as possible. Because too much information is not going to hurt you but too less information is going to hurt you definitely.
Collect all the documents
Whether you are about to sell your property or buy a property, the first thing that you need to do is collect all the documents that are required to make the transaction.
The following documents are required when you are about to sell a property. You should have the original sales contract when you bought this property for yourself. Original sales contract is the document that you would have received from the previous owner of the property. This document details all the transfers the property has had since its birth. This list downs the price of the property when the transaction was made.
The second document that you should possess is the home repair and maintenance records. Most of the buyers want to make sure that they do end up in a property that is well managed and not have any underlying issues that they have to deal with in the future and that will cost them a lot of money. So, a lot of property owners do maintain a record regarding all the home repairs and maintenance that has happened during the life of the property. This document also includes pictorial evidence regarding the work that was done including the labor and material that was used in the process. Another feature of this document happens to be any damage that was inflicted on the property and the treatment that was subsequently done on the property. This means that you should also include the insurance claims and insurance policy on the House.
The third piece of document required to make a sale is a comparative market analysis report for your property. This document will highlight the value of the property given the market trend in the area in which the property is located. Other than the market trend there are other factors that also go into making sure the right price and the value is calculated for the property.
The fourth piece of document is the listing contract. Usually in the world of real estate the transactions a Made by real estate agents on the behalf of the owners. Therefore, there has to be a legal document that should highlight that the real estate owner is empowered enough to make the transaction on the owner’s behalf. Sometimes this piece of contract also includes pictures and videos of the property.
Documents required when buying a property
When you are looking to buy a property, the documents that have been mentioned when selling a property are also required in this process as well. In addition to those documents, you should also be given access to the original building plan, all the non-objection certificates issued against the property, allotment letter regarding the property, property tax receipts, possession letter, completion certificate, and occupancy certificate. These are mandatory pieces of documents that are required.
How to make sure that the property is sold quickly?
If you are solo property of course you want to make sure that you are able to fetch the best price but you should not be waiting for a long time before the transaction can be made. Therefore, if you want to sell my house fast, you need to make a few steps in order for this to happen.
First of all, find yourself a real estate advisor who is a local to the area and works on the ground very often. This professional should be updated with all the local and state laws that are applicable.
Another factor that will make sure that you are able to sell your property quickly is that the real estate company whose services you have acquired should have potential customers lined up. This way the company will be able to match the seller and the buyer quickly. Do not go for companies that will start searching for buyers once the property is listed because that is inefficient and times taking process.
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