FSBO Documents
Selling a home is a big deal. Big transactions will often require use of specific paperwork. These documents ensure transparency, legal compliance, and clarity throughout the FSBO transaction process.
Common Indiana Documents
Seller’s Disclosure
Description: This form discloses the condition of the property, including structural, mechanical, and environmental issues.
When Used: This form is provided to the buyer before the sale to inform them of any known issues with the property.
Who Fills It Out: The seller completes and signs this form.
Purchase Agreement
Description: This is the legal agreement between the buyer and seller that outlines the terms and conditions of the sale, including the purchase price, closing date, and any contingencies.
When Used: This document is created when an offer is made and accepted.
Who Fills It Out: Both the buyer and seller, often with the help of an attorney or real estate professional.
General Warranty Deed
Description: This deed transfers ownership of the property from the seller to the buyer and guarantees that the seller holds clear title to the property.
When Used: This document is used at the closing of the sale, to transfer ownership.
Who Fills It Out: The seller, typically prepared by a title company or attorney.
Bill of Sale
Description: This document transfers ownership of personal property included in the sale, such as appliances or furniture.
When Used: This is used at closing if any personal property is included in the sale.
Who Fills It Out: The seller.
HUD-1 Settlement Statement
Description: This is an itemized list of all closing costs and adjustments for both the buyer and seller.
When Used: This document is used at closing to detail the financial transactions of the sale.
Who Fills It Out: The closing agent or title company.
Lead-Based Paint Disclosure
Description: This form discloses the presence of any known lead-based paint in the property for homes built before 1978.
When Used: This form is provided to the buyer before the sale of properties built before 1978.
Who Fills It Out: The seller.