HOMEOWNERS TITLE AGENCY

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Title Order Form

 

FOR SALE BY OWNER DOCUMENTS

INDEX OF FORMS

Terms to be Negotiated between Buyer and Seller

List of items to be negotiated to assist completion of the Purchase Agreement. This worksheet makes completeing a Purchase Agreement easy because it follows line for line the blank Purchase Agreement document.

Purchase Agreement    and    Sample Purchase Agreement                     

Contract between the buyer and the seller which contains all the legal rights, duties, and obligations of the buyer and the seller.  The buyer takes a copy of the signed Purchase Agreement to their mortgage company to apply for the loan. The seller brings a copy of the agreement to the title company along with other stated documents to begin the title work.

Contingency on Sale of Purchaser’s Residence (72 Hour Clause)

Addendum to Purchase Agreement allowing Seller to continue to market home while Purchase tries to sell his.

Seller’s Disclosure Statements

Prepared by the seller and signed by both the seller and the buyer in compliance with the Michigan Law called the Seller Disclosure Act (FORM H—two pages).

Language for Seller’s Acknowledgement—Lead-Based Paint

If the seller’s home was built in 1978 or later, the seller signs acknowledgement only (FORM L-1).

Responsibility of Seller(s) under Residential Lead-Based Paint Hazard Protection Act

If the seller's home was built prior to 1978 both the seller(s) and buyer(s) sign (FORM L-2).

Lead-Based Paint Seller’s Disclosure Form

If the seller’s home was built prior to 1978, the seller checks two (2) boxes and the seller(s) and the purchaser(s) sign form (FORM L-3).

Booklet (Protect your Family from Lead Paint in your Home)

The seller(s) give the booklet to the buyer(s) if home was built before 1978. (Download from this site or request from Homeowners Title Agency, if needed.)

Earnest Money Deposit Receipt

When the title company is holding the Earnest Money Deposit, the seller(s) and the buyer(s) sign with the amount filled in ($5,000 - $10,000 is common).  A title company representative will sign for the check and provide copies of the check and the receipt to both parties.

Mortgage Payoff Authorization Request

The seller(s) fill out the name of their mortgage company with their account number and give the form to the title company.  This allows the title company to order a payoff of their mortgage and/or equity line prior to the closing.

For Sale by Owner Buyer/Seller Information Sheet

Completed by the buyer and the seller to give to the title company.  This form allows the title company to have all the pertinent information in one place as the paperwork is being completed for the closing.

Items to Bring to Homeowners Title Agency or Attorney

Checklist of items needed to begin title order.  Seller just follows this list and the title company will have everything required to start the title work.

 

 

 
Rev. 2/12/12