RSS

The Importance of Having your Mortgage Papers Ready when you Sell your Home

27 Nov

So you have taken the leap and put your home on the market.  An offer comes in that you accept and now the title company must get to work.  Having a paper trail showing your mortgage history is incredibly important.

No one thinks about the paperwork involved with selling a home.  Homeowners think about the hassle of putting their home up for sale.  The house must be kept up and ready to go to show to potential buyers.  It’s a real inconvenience, but just one of those things you must do to get that home sold.  Once the home has an offer on it that is accepted, homeowners breathe a sigh of relief and relax as now they just have to wait for the paperwork to be processed so they can close on their home.

A big hurdle comes up on occasion when the title company looks to clear the title for the new owners and pieces of the mortgage history are missing.  Missing information can be in the form of such things as an equity loan or a refinance.  What’s important is that you dig up every last paper you can find to form a paper trail. The more information you can provide regarding bank names, account numbers, loan amounts etc… the better off you will be because the process of clearing the title will go much quicker.

Title work can be incredibly frustrating for the homeowner.  They have just gotten through the hurdles of showing their home again and again.  They have gotten an offer that they find acceptable and they think that getting to a closing table to sign the last papers should be a piece of cake.  When title work holds up the closing, it becomes a tedious process for everyone.

As long as you have all of your papers showing the history of the financial transactions on the house, getting to the closing table will be fairly straight forward.  This is why it’s important to be ready to go once the offer comes in.  Make sure you have all of your documents ready to hand over to the title company and finishing the task of selling your home will be easy and fairly stress free.

About these ads
 
Leave a comment

Posted by on November 27, 2012 in advice, housing, how to

 

Tags: , , , ,

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
Follow

Get every new post delivered to your Inbox.

Join 1,158 other followers

%d bloggers like this: