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Equal Housing Opportunity
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Basic 10 Items to Gather to Buy or Sell Your Property 1. Driver’s license or other government issued ID. Lenders now require two pieces of ID, so a passport and a Driver’s license will do. Buyers and Sellers must be identifiable to the lender and the title company to assure the person signing the documents is who they say they are. Definitely have ID with you when you go to sign the closing documents. 2. W-2s for the last two years if salaried or Tax returns for the last two years if self-employed. Buyers need this up to date income information when applying for a mortgage. 3. Most recent paycheck stubs for the last 30 days and last two month’s bank statements (all of your checking and savings accounts)– keep these handy and updated as you go along – the closing may get delayed and the lender will want updated stubs and statements from the Buyer. 4. Names and addresses for employers for the last two years. Buyers must give lenders information so they can verify your credit. 5. Separation agreements or divorce decrees. Buyers and Sellers must verify who can title be transferred from and to and who and how much does each party receive or owe. 6. Residence addresses and landlord information for the last two years. Once again the lender will need this to verify credit information. 7. Gift letters – if part of the down or deposit Buyers must prduce the letters as lenders need to know the money came from a relative and is their own money to give. It has to be confirmed in writing that the money is a gift and not a loan. 8. Addresses and loan information of other real estate owned. It affects the buyer’s loan limits. 9. Current mortgage statement(s). The seller needs to provide updated statements tp escrow so that the mortgage payoff can be scheduled and that then the title can be transferred to the buyer. 10. Compliance certificates/Building permit packages. Certain government requirements need completion certificates filed in order for the property to be transferred to the new owner without any further compliance questions. Your Realtor will know if the property has any government or subdivision requirements, like sewer hookups or low flow toilet installation. Kate Braden R
Principal Broker
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