From contracts and home inspection reports to mortgage applications and financial records demanding your attention, there’s an awful lot of paperwork that goes with buying or selling a house. In fact, it’s easy to feel like you’re drowning in documents! Worse yet, misplacing important files or overlooking proper paperwork procedures can lead to delays, legal issues, and even financial setbacks.

As a home buyer or seller, it’s crucial that you know what to expect in terms of real estate paperwork, familiarize yourself with common forms and documents, and follow proper procedures. To help you stay organized, Red Horse Home Inspection is here to share some tips and insights into the paperwork associated with buying and selling a home.

Familiarize Yourself with the Documents

Whether you’re buying or selling a home, you’ll have to navigate several common documents. Paperwork required for home selling includes deeds, surveys, property tax receipts, renovation contracts, and transferable warranties. You will need to assemble these documents and provide them to the buyer. If you made structural changes to your home that required a permit, you may also need to supply the buyer with certificates of compliance. 

For buyers, MovingWaldo lists several important property documents you will need to be familiar with:

• Real estate purchase agreement
• Property transfer documents
• Land transfer tax documents
• Statement of Adjustments
• Mortgage Assignment Agreement
• Property survey or land survey
• Home inspection report

Keep in mind that the mortgage application process also comes with various paperwork requirements. Be prepared with your tax slips, NOAs, job letters, pay stubs, and bank statements. These documents will provide information about your financial stability and eligibility for a mortgage.

Digitizing Paperwork

Keeping your documents organized digitally is not only eco-friendly but also ensures you always have immediate access to your files, regardless of where you are. When transitioning from paper to digital records, a common hurdle is managing an overwhelming number of individual files. However, you can merge all your files effortlessly using a PDF merging tool, streamlining your document management process. 

This approach consolidates all your documents into a single file, significantly reducing the time spent searching for specific documents. Furthermore, once you’ve combined your PDF files, these tools often allow you to rearrange the pages, enabling you to get your records in the exact order you need. This method of document organization is efficient, secure, and simplifies access and retrieval, making it an invaluable practice for both personal and professional document management.

Keep Your Paperwork Organized

If you’re buying and selling a home at the same time, all this paperwork can quickly get out of hand. Come up with an organizational system early on so you can stay on top of things. For example, set up a filing system in your home for any hard copies you need to store. You may want to create separate binders or folders for selling and buying. Consider adding color-coded sections to make your life easier.

Seek Professional Assistance

If you’re feeling overwhelmed by the sheer number of documents in front of you, don’t hesitate to get help from a professional. You’ll be interacting with several professionals throughout the home buying and selling process, and many of these experts will be able to provide guidance when it comes to filling out forms, reviewing documents, and submitting contracts. 

Make Yourself Familiar with Real Estate Documents

Navigating the paperwork involved in buying or selling a home requires knowledge, organization, and professional support. By familiarizing yourself with the necessary documents involved in buying and selling, establishing an efficient organizational system, and seeking guidance from experienced real estate professionals, you can streamline the process and ensure a successful transaction!

Red Horse Home Inspection is the trustworthy home inspector you’ve been looking for. Reach out today to get started!