Buying Property 101: The Involved Documents

Real Estate Agent

Any homeowner can attest the fact that the process of searching for a house to buy is difficult. There are many homes for sale in Kansas City that you have to choose from. The different homes have various styles, and their prices vary. After your search is over, the procedure of getting the house under your name is even harder. You need to understand the different terms in the process. You will also be working with some people through the different stages. You cannot ignore the fact that the other individuals in the process are well conserved with the process.

Conducting your research beforehand will ensure that your process goes smoothly. Among the many things you will need to do is presenting certain documents in different stages. Here are the essential documents you require during the buying process:

Tax Declarations

In the process of transferring property, the involved parties need to file tax documents. The tax document contains the price declaration for the property. The document enables the tax authorities to calculate the tax amount on the property. Not all the states require the buyer and seller to provide a tax declaration. Therefore, confirm with your state authorities whether it is a requirement for your state. Submitting the tax declarations is a state obligation for the citizens.

Affidavit

Home figure on top of a contract

The affidavit is a document that verifies the seller’s property ownership. Other states refer to the document as the title certificate. The document contains any requirements on the title such as disputes, leases, and defects. This document pays more attention to the title deed of the property. The title deed of a property is important, and many states advise individuals to get title insurance. The title insurance policy protects the homeowner should a problem come up concerning the title. A property sale is invalid if the property seller does not have an affidavit.

Bill of Property Sale

Some property sellers sell homes that are complete with house fixtures. These fixtures can vary from the air conditioners, light fixtures, and appliances. The bill of property sale contains the items that come with the house sale. It is important that the document contains the price of each item. The total cost in the bill of the property sale is separate from the cost of the property.

Title Deed

The title deed refers to a document which signifies the legal property transfer from one party to another. The title deed can have multiple types of property such as partnerships and joint ownership. You need to fill the details in the deed and then forward to the authorities for filing. Each type of title deed has a warranty attachment. The warranty guarantees the buyer that the property seller has the right to transfer property ownership.

The process of buying the homes for sale in Kansas City does not have to be cumbersome. Working with the right professionals through the process of buying a home will make the process easy. It is advisable that you get your documents before the actual process of buying your home. That will minimize the duration you will take before you become a homeowner.

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