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Paperwork Needed to Sell a House By Yourself

A Homeowner sells a house to himself.

When you’re selling a Wisconsin home under the For Sale By Owner (FSBO) process, you may still need to work with a real estate attorney. You’ll also need to file all necessary FSBO paperwork. So, what type of documents do homeowners in Wisconsin need to complete a real estate transaction without the help of a real estate agent?

We will answer that question below. For a successful home sale, you will need to know more about how to sell a house by owner paperwork involved. By selling your Wisconsin home without the help of a realtor, you can avoid paying the real estate agent commission fee of six percent as part of your closing costs. 

To learn more about the right home purchase agreement documents and other legal documents, keep reading. Let’s get started!

How To Sell a House by Owner Paperwork

When selling your house by yourself without a seller’s agent, you will need to follow several specific steps. Keep in mind that you will likely work with a buyer’s agent and possibly have to cover the buyer’s agent commission fee. Home sellers will need to follow the steps below.

  • Determine your home value and pick a sale price for the property
  • Clean, make upgrades, and prepare your home before putting it on the real estate market
  • Market your house on social media
  • Post the house on Zillow and a multiple listing service
  • Fix your home listing as needed
  • Negotiate offers from home buyers and provide a counteroffer
  • Sign the final home sale agreement document
  • Sign all closing documents during the closing process

After agreeing on the home sales contract, you will need to find a title company to deposit earnest money for the sale. You will also need to run a title report to ensure the title is clear and figure out how to transfer home ownership to the potential buyers.

Also, you will need to get the house ready for a home inspection. When the buyer hires a home inspector who provides an inspection report, you will need to look over it and repair any potential problems before the sale is final. Otherwise, the buyer may request to decrease the final purchase price.

The last step involves signing closing statement paperwork on the closing date. Some of the documents you will need to sell your home under the FSBO process are:

  • Homeowner’s insurance coverage paperwork, any home warranty, and manuals for major appliances
  • HOA documents from the homeowners association
  • Property tax records showing if you have any outstanding property tax to cover

Below, we will delve further into the type of paperwork needed to sell FSBO homes.

What Documents Do You Need To Sell Your House by Yourself?

If you’re looking to avoid the real estate commission fee when putting your home for sale on the housing market, you can consider selling a house without an agent. However, you will need specific home-selling paperwork, such as:

  • The mortgage payoff statement from your lender
  • Maintenance and home repair records
  • Disclosure form of potential lead-based paint or other issues
  • The comparative market analysis you can get from a real estate broker
  • Seller’s net sheet outlining the estimated costs for selling the house
  • Preliminary title inspection
  • Pre-listing home inspection before beginning the property selling process
  • Appraisal report on the house showing assessments to help you decide on a listing price
  • Home inspection report
  • The closing statement
  • The deed to transfer the title of the home from the seller to the buyer.

The title company or the buyer’s real estate attorney will likely request a mortgage payoff statement from your lender. Make sure you keep track of all maintenance records as well. For instance, if you had an HVAC upgrade or had the washing machine repaired, you’ll need to provide that information to the home buyers.

FSBO real estate sales also need a disclosure statement. The seller disclosure form should explain to buyers any significant issues in the home that need repair, including lead-based paint. Along with the property disclosure, you should also show that the property does not have any liens left on it. You can do so with a preliminary title search. 

Your property tax records are not required for the home sale, but they would help you see any taxes left on the home before closing day. You may also have trouble getting a comparative market analysis, as real estate agents or brokers usually deliver that document.

The seller’s net sheet will show you the profit you’re likely to make from the home sale while accounting for all other house-selling costs. Further, a pre-listing home inspection can ensure you repair any significant problems before putting your house on the market.

The buyer’s lender or the buyer will request a home appraisal report, which shows the property’s square footage. That way, you can determine whether your listing price aligns with the home value from the appraisal. 

The buyer will also likely require a home inspection. Any problems found from the buyer’s home inspection will need repair. Also, you can decide to lower the final home price for the buyer instead. 

You will also get a closing statement from the title company or closing lawyer, which outlines all the costs involved with the home sale. Lastly, you will have to give the buyer a general warranty deed to transfer ownership of the home. 

A lawyer helps a homeowner to sell a house to himself without paperwork.

Can You Sell a House by Yourself Without the Paperwork? 

Losing paperwork or not getting access to it can pose problems for a home sale. To sell a house successfully, the loss of vital documents can have a monetary impact. Having all the paperwork related to the property can show sellers that they have full ownership of the property and give them the confidence to proceed with the sale. 

You should keep a record of relevant paperwork after buying your home to ensure you can pass on these documents to a new buyer in the future. If you do misplace or lose critical documents, you will need to request a copy of the deed from the city hall. You may need to apply to get a copy of the deed. 

At the end of the day, you cannot sell a house by yourself without the relevant paperwork. However, some buyers may forego a home inspection, so you won’t need to deal with an inspection report.

Also, if you’re selling your house under the FSBO process, you likely won’t have access to a comparative market analysis document. You usually need a realtor to provide a comparative market analysis. As such, you should instead use local listing prices of similar homes in your neighborhood to pick a home sale price. 

The electrical safety certificate is another document you aren’t required to have when selling your home. However, you can likely sell your house more quickly and easily if you have an electrical safety certificate. 

While there are a few documents you won’t necessarily need when selling an FSBO home, you will need most of the paperwork to complete a successful real estate transaction.

What To Do If You’ve Forgotten the Paperwork

If you have lost or forgotten where you placed your real estate paperwork, you will need to request copies. For example, to get a copy of your deed, ask your mortgage holder for a copy. Furthermore, you can also ask your local registrar’s office to get a copy of your home’s registration.

The registration department will provide you with a certified copy of the deed. You can request a complete replacement of the paperwork or a soft copy.

When selling your home, you will also need multiple copies of certain documents. The entire process of getting relevant paperwork can become time-consuming and costly. As such, it’s for the best to keep track of your real estate documents and records. 

You cannot complete a legal real estate transaction if you don’t have an original home sale deed in your name. You cannot give the house as part of a gift deed or a settlement deed without the original deed in your name.

For a legal home sale transaction, you will also need to have the property disclosure form, including a lead-based paint addendum for homes built before 1978. 

After you complete your home purchase, file away relevant paperwork safely and gather all vital documents before you start the house selling process

Conclusion

After reading the guide above, this is everything you need to know about how to sell a house by owner paperwork you’ll need when selling your place under the FSBO process. Foregoing working with a realtor will save you on the listing agent’s commission fees. 

The basic documents you’ll need for an FSBO sale include a mortgage payoff form, house repair records, a home inspection report, disclosure forms, a title inspection, and an appraisal report. 

After buying your home, you will need to keep records of all relevant paperwork. Otherwise, you will spend time and money seeking certified copies when you decide to sell your property. 

You can also sell a house fast in Milwaukee if you work with cash home buyers in Wisconsin. Further, we buy houses Oshkosh residents adore, so call us as soon as you can. 

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