6 documents to have on hand when selling your home
You’ll need several documents during the process of selling your property, be it to give potential buyers information or to finalize the transaction at the notary’s office.
Here are 7 documents you should have on hand.
1. Declaration of the Seller
The Declaration of the Seller is a tool owners use to give an overview of their property when selling it. This document gives potential buyers important information about the property’s condition. For more information.
2. Property tax, electricity and gas bills
Most buyers want to know how much they can expect to pay in taxes and utilities. In fact, this can sway their final decision. It’s helpful to have these documents on hand, as well as any rental contracts (for a water heater or other).
3. Declaration of Co-ownership (e.g. condo)
This document has three parts: the incorporating documents, the building regulations and the descriptive summary. In short, it describes how the condominium is divided and how it is managed. It also contains the cadastral description of the private and common areas of the building.
4. Copy of the Offer to Purchase
The notary will need this document to complete the bill of sale. The Offer to Purchase is the contract in which the buyer formally commits to purchasing the property. It also stipulates that the seller agrees to sell the property provided that the terms of the contract are accepted by both parties.
5. Certificate of localisation
This document describes the property in a plan that shows the lot(s), main buildings and outbuildings. It also describes the state of the property in accordance with the applicable municipal laws and by-laws. You can have a certificate of localisation drawn up by a land surveyor.
6. Previous bill of sale
The bill of sale is a document prepared by the notary that officially seals the real estate transaction. The bill of sale the owner received when they purchased the property proves they have the right to sell it.
Those documents are very useful in justifying your asking price. You could also add copies of invoices for major renovations or maintenance work that you have done in recent years. They show that your property has been well maintained and is in good condition.