Everyone that is going through a sale or purchase of a new property knows that it is a stressful and draining process. Whether you’re selling/purchasing independently or working with a real estate agent, you can surely expect to be dealing with tons of paperwork and documents. Making the preparation of documents a necessary step.
For Sale By Owner (FSBO) Contracts
These contracts are for those who’d prefer to go at it alone – or without a real estate agent. If you are confident enough to sell your home on your own, you’ll need to complete an FSBO Contract.
The details of an FSBO contract are fairly straightforward and include some basic information such as the name of the parties involved including the buyer and seller’s full legal name, a general title of the contract, the date the contract was signed, and a description of the property.
Loan documents are detailed documents including the details of mortgage loans & plans including intra-family loans including the specific interest rates.
If you’ll be selling your home without taking out a new mortgage, sign loan assumption papers where necessary. If you’re taking out a loan to purchase another property for yourself, then loan documents must be prepared.
If you need loan documents prepared and do not have an attorney, it can be very difficult and time-consuming to complete them on your own. The easiest option is to hire a loan document preparation service that offers loan document preparation assistance to real estate professionals.
Deeds are documents dealing with the transfer of ownership of the property being sold and transferred.
In Virginia deeds are recorded in the land records of each county’s Circuit Court Clerk’s office. The deeds record when property changes hands from one person or entity to another. A deed can transfer a home, a commercial building, a piece of equipment, any type of real estate at all, and deeds can even be used for cars and jewelry.
When deeds are prepared in Virginia, they need to be signed by the seller and notarized. It is recommended that deeds should also be acknowledged before a notary public in order to add an extra level of credibility when it comes time for deeds to be presented in court or at other legal proceedings. In addition, deeds must have a recordable grant clause. Grants are deeds which transfer the right to take possession, use, and benefit from land or property. Before deeds can be recorded at the Circuit Court Clerk’s office deeds need to be properly prepared and signed by the seller.
Power of Attorney Forms
Power of Attorney forms (POA) are used when another person is appointed to act on your own behalf in regards to legal matters involved with the sale of properties.
Before you can complete the process, you’ll need to choose POA forms for loan documents. If an individual loan document requires POA forms or if your loan package contains multiple loan documents; make sure all necessary POA forms are included when you submit loan documents to the loan professional.
If POA forms are not included in your loan package and you need them, contact a loan document preparation service that offers loan document preparation assistance to real estate professionals. The loan professional should have all the necessary POA forms included with your loan package so there is no problem or further delay in loan document preparation.