There are certain documents needed to sell land by the owner. Regardless of your location, land and property owners are obliged to provide all documents—such as title deeds, purchase agreements, and zoning information—required under local governments’ jurisdiction.
With that said, this article covers the most common documents needed when selling land or property in Houston, as well as other states.
Four Crucial Documents Needed to Sell Land by Owner in Houston
Deed
A deed—or a legal document which proves property ownership—is the most crucial document needed to sell land in Houston and other states. It will be used to transfer ownership from seller to buyer, given that both parties signed the document.
Proper recording of the process is necessary in the state clerk’s office. The process may vary based on various factors, so seeking advice from a lawyer is advisable.
Tax Records
Tax records serve as a means of providing transparency to prospective buyers regarding the property’s tax obligations and verifying the accuracy of the tax information listed.
- Property tax bills
- Receipts of tax payments
- Records of tax assessments
- Tax exemptions or reductions (if applicable)
Purchase Agreement
The purchase agreement is a legal document that outlines the transaction’s terms and conditions. Having a purchase agreement signed by both parties proves that they understand their rights and responsibilities during the transaction.
The document includes information like the buyer’s name, current address, and contact details. Other information such as property details, payment terms, closing date, and other details related to the purchase and transaction.
Ensure that all details are explicitly conveyed. This includes precise descriptions of land or property, as any ambiguity could impede the progress of obtaining legal and financial approvals.
Most importantly, providing a purchase agreement protects property owners from potential legal issues that may arise in the future.
House Inspection Report
A recent home inspection report is also crucial when selling a house. Generally, it can help address potential issues and provide transparency to potential buyers about the condition of the property.
A home inspection is a comprehensive evaluation of the home’s overall condition. This includes the structure, mechanical systems, plumbing, electrical etc.
The report will typically include:
- A detailed description of the home’s condition
- A list of any issues found during the inspection
- Recommendations for repairs or upgrades
Additionally, it can provide potential buyers with a better understanding of the property’s condition and can increase their confidence in their purchase decision.
Contract for Sale
Aside from a purchase agreement, landowners will also need a contract of sale in order to sell their properties. Sellers are obliged to provide the said contract in order to protect both parties, as well as to assure the legalities of the transaction. It is especially critical for buyers in case there are acquisition issues.
The document’s content is somewhat similar to the content of the purchase agreement. It contains information such as the sale’s terms and conditions, purchase cost, payment methods, and other transaction-related details.
All in all, having a contract for sale will protect the legal rights of both the seller and the buyer.
Disclosure Document
Last but not least is the disclosure document. As its name suggests, the document contains all information the buyers must know about the land or property. And that includes the overall condition of said residential space.
The owner or seller of a property must inform the buyer of any necessary repairs, such as small damages, through the disclosure document. This protects the owner from potential lawsuits filed by the buyer for non-disclosure of property defects or damage.
Additionally, it will serve as an important tool in terms of price when negotiating.
Property Insurance
The homeowner’s insurance policy is a document that provides proof of insurance coverage for the property being sold. This policy typically includes:
Type of coverage (e.g. homeowners, hazard, flood, etc.)
- Policy starting date and end date
- Coverage amount
- Deductible amount
- List of covered perils (e.g. fire, theft, weather damage, etc.)
- Exclusions and limitations
This information helps provide potential buyers with a better understanding of the property’s insurance coverage and helps to ensure that the property is adequately protected.
Documents Needed to Sell Land by Owner are Crucial
Selling a home can be a challenging and time-consuming task. Get Your Fair Offer offers a quick, stress-free, and dependable solution to monetize your property. Contact us now and let us take care of the rest!
Get Your Fair Offer is a reputable real estate investor in Houston. We ensure that you receive only the fairest and best value for your property.
Reach out to us now and get a REAL offer! Call us at 281-709-2999.
