In order to facilitate a successful sale of your Frisco TX home, there are several documents to prepare (ie. have on hand) so the next step after accepting an offer will go smoother:
- T-47 if you are using an existing survey in the transaction
- Mortgage payoff authorization (consists of your lender’s information, mortgage account information, and last 4-digits of your social security number)
The survey details the property boundaries, building setback lines and easements. The survey must have a clear and legible surveyor’s stamp also. Existing surveys are allowed to be used a new real estate transaction.
T-47: Texas Residential Real Property Affidavit
The T-47 affidavit goes alongside the survey used for the real estate transaction. With using the T-47, it states that the current owners have no made improvements or changes to the property that could affect the use of the existing survey. Changes that would include:
- adding new structures such as swimming pool, room additions or extensions, or other permanent structures.
- change the location of fences
- construction projects on immediate adjoining property that encroach the property
By stating “NONE” – it states that the owner (to the best of the knowledge) does not know of any changes made (listed above).
The T-47 affidavit should be signed in front of the notary.Then, delivered to the title company along with the survey when the transaction is executed.
Upon closing, the T-47 affidavit will be requested to be signed again.
Best practice should include signing the T-47 even before the property comes on the market. When an offer is presented, concentrate on negotiating the offer, instead of running around trying to get the T-47 notarized.
Mortgage Payoff Authorization
The mortgage payoff authorization can be a simple request letter (with the mortgage information listed) that the owners authorize the title company to request a mortgage payoff authorization.
When you hire 3:16 team REALTY to sell your Frisco TX home, you can be assured that the important paperwork needed will be requested upfront. It is how we operate as a company. We do not like to chase after paperwork. We are planners and we gather all the necessary paperwork needed upfront, so when you do have an offer on the property, we will concentrate on negotiating the contract, instead of chasing needed paperwork.
Call Loreena and Michael Yeo
to discuss the sale of your home.
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