Property
Profile Folder.
To
enable the listing Sales Representative to prepare a highlight sheet
on the property, the home seller needs to provide a number of documents
and information specific to the location and jurisdiction. Because the
list is long, you can understand why it's best to collect the papers
before the listing appointment. These materials may include:
Septic
and Well Inspection.
If property is on septic/well, current inspections by local health authorities
are required while the home is occupied. Listing Sales Representative
will usually arrange for inspection after the contract is ratified.
Order
Lender Appraisal.
Lenders usually require an appraisal to assure that the property is
adequate collateral for a loan. Appraisal may be ordered before (paid
by seller), but is more often done after an "offer to purchase"
is accepted (paid by buyer).
Assessments/Easements.
Listing Sales Representative will ask home seller if
any tax assessments or easements exist on the property that must be
paid or included in purchase contract and passed on with the land when
sold.
Property
Taxes/Condominium Fees.
Home seller provides record of property tax or condominium
fee payments which buyer will reimburse on a prorata share to home seller
at settlement. Inspections. Many lenders of new mortgages may require
an inspection certificate that shows house is free of major defects
Utilities.
Home seller should provide record of past 12 months
utility bills, including gas, electric, sewer, water, and trash where
applicable. Most buyers will want to know the history of utility costs.
Helpful
Documents.
If possible, home seller should provide listing Sales Representative
with title, site survey, condominium bylaws and documents. legal description
of property (subdivision, section and lot), warranties on major systems
or Home Owners Warranty, if still in effect, in purchase contract.
"What
Conveys?"
In anticipation
of a buyer's offer, the home seller must be ready to supply listing
Sales Representative with a specific list of the personal property that
is included in the Real Estate property for sale. Examples of items
to "convey" may include: draperies, drapery rods, remaining
heating oil, firewood, washer, dryer, refrigerator, stove, microwave,
disposal, swimming pool chemicals, awnings, storm doors and windows,
screens, blinds, shutters, window air conditioner, etc. Home seller
should tag or remove items which do not convey.
Listing
Agreement
When the home seller
is ready to put the home on the market, the listing agreement is filled
out indicating a specific period of time the agreement is in effect
("listing period"), and signed by the seller. You've now hired
a listing broker.