What Is A Deed When Selling Your Home?
Selling a house can be complicated, especially if it is your first home. It is possible to be confused with the many new terms that will be thrown at you. You need to ensure you understand what is going on, so that you do not make a mistake. A small mistake when selling a house could lead to you losing money.
For instance, you might be wondering what is a deed when selling your home? Learn about the deeds and why they are essential when selling a house in this article.
About the Deed
The deed is a document that shows homeownership. With all the extensive legal files on record, you might be wondering why you need a title when selling a home. The deeds are essential as they clearly explain the homeownership in writing.
What Is Included in a Deed?
- The property description, the size, boundaries, and exact location
- The full names and identity number of individual or individuals that legally own the property
- The date on which the property was last transferred
- In case the property was purchased, the amount used to pay should be indicated
- Any factors that could limit the sale of the property
- Any restriction that could apply to the purchase of the property
- An official seal from the Deeds of a registry office
Why Are Deeds Needed When Selling Your Property?
The buyer will need the deed to clarify the person selling is the owner of the property. In most cases, the seller will present the deed and the buyer will verify that the document’s information is legit. Thus, this will give the buyer peace of mind when buying the property.
When a home seller has identified an interested buyer, the next step is to transfer the deed. To do this, you will need to hire an attorney, title, or escrow company depending on where you live. They will prepare the deed as well as other documents required for closing.
When the sale is ready to close, the deed will be transferred to the new owner. The seller will be the one who will have to pay for the document to be transferred.
It Does Not Have to Be Tough
Those in California who have a busy schedule or are looking for a fast way to sell their house should consider selling to JAM Properties, LLC. Our company buys properties from those living in Orange County, CA for cash. JAM Properties, LLC will also handle the closing fees and help you through the whole process. We will handle the transfer of the deed and even pay the costs for the transfer. Please contact us for assistance.