You’re looking to sell your house, but you are completely overwhelmed by the process. When you buy a house for the first time, the excitement often exceeds the stress. However, when it comes to selling your home, you have a greater responsibility on your shoulders. Not only do you have to prepare and list the property, but there are also a variety of legal components that you need to consider to remain compliant with local and state laws, as well as avoid any delays and costly issues. To help you on your journey to selling your house while mitigating the chaos, here are some crucial things you should consider and prepare for.

#1 Disclosure of important information

As the seller, you are legally required to disclose information about your property which forms part of the sales contract. This information must be detailed, accurate, and up-to-date.  Full transparency will help you avoid any litigation similar to that involved in the 72 Sold lawsuit. This includes any issues known to you, such as:

• Pest problems
• Roof leaks
• Electrical/plumbing issues
• Foundation problems
• Disputes with neighbors or claims related to the property
• Environmental hazards

And more. The amount that you share may vary by state, so it is important to understand all the requirements for your specific location.

#2 Important legal documents

First is the sales contract. This is a binding document, so it needs to be drafted properly and carefully to ensure all the important clauses are included, for example:

• The agreed purchase price
• Any conditions that have been agreed upon for the sale to proceed e.g. inspections
• The closing/transfer date
• Details about the property being sold

The property deed is another vital document. This legally transfers from the seller to the buyer the ownership of the property in question. It should include the grantor (seller) and the grantee (buyer), a legal description, and signatures.

Other legal documents include a title report and closing statement. The title report will verify the property owner and identify to all parties any easements attached to the property. This will typically include the history of the ownership, any recorded claims, and insurance against the title for future claims. If there are existing issues, these should be cleared before selling the property. This is an important consideration to mitigate stress in the process. The closing statement will incorporate the agreed-upon price of the property, any adjustments for expenses e.g. property taxes, and any service fees that need to be paid, such as inspections, insurance, and attorney fees.

#3 Following through with your obligations

Whatever is detailed in any of the documents above, you must remain compliant with these and follow through with any actions you must take. To do this, you must spend time reviewing the documents. It can be helpful to sell your house with the support of a real estate agent and an attorney to help you stay accountable and compliant.

Selling your house can be a stressful process. There is a much to consider, and even more so if you are buying a house at the same time.