The Seller

Before selling your home, there are some things you should investigate to avoid unwarranted surprises. Contact your local building department and determine if you need a point of sale inspection or occupancy permit to transfer your title. Many communities have safety and building code requirements that must be met before you can sell your home. Other communities will require an occupancy permit or statement of use which tells the potential Buyers what the home is allowed to be used for or that it is safe for occupancy.

If you have owned your home for a long period of time, it will be helpful to get a title exam or title commitment prior to selling you home. The commitment will indicate only title clouds such as tax liens, mortgage or probate issues. Having the information ahead of time allows you to work with the title company in getting these items cleared from your property.

If you purchased your home and used Resource Title or one of our underwriters for your owner’s policy, you may be entitled to a discount on our services when you sell your home.

If you plan on selling your home on your own, Resource Title can provide a “For Sale by Owner” kit which has many standard and state required forms. However, you may decide that selling on your own is too strenuous and want a Realtor to take care of the details. There are many things to review when looking for a Realtor. They should be knowledgeable in the area in which you are selling. They should be able to guide you through all your local requirements such as paperwork and point of sale inspections. They should help you prepare your home so you can make the best possible impression on potential Buyers. They will explain to you the various ways your potential Buyer can finance their purchase and what that means to you and the costs involved. FHA and VA financing have costs that the Seller is required to pay on behalf of the Buyer. They will market your home in many ways and will discuss all your marketing opportunities. They will also offer various sales incentives such as home warranties or upgrade allowances.

Once your home is sold, you will need to provide mortgage and homeowner’s information to the title company. Your escrow officer will need this information to complete your settlement statement and prove to the Buyer that they are receiving a title free of liens.

The final step in title transfer is getting a final water and sewer reading. During the settlement process there will be an amount determined to be held for the final water and sewer billing. Your Realtor will assist you in obtaining your final meter reading and invoice. When you provide either proof of payment or submit the bill to be paid from escrow, any excess funds will be returned to you.