Common Seller Package: Purpose & Content

Note: The specific documents included in a seller package can vary depending on local laws, lender requirements, and the specific terms of the transaction. However, the following are generally common:

• Purpose: This legal document transfers ownership of the property from the seller to the buyer.
• Content: Includes the names of the seller and buyer, a legal description of the property, the purchase price, any encumbrances (e.g., mortgages, liens), and the seller's signature.

• Purpose: A sworn statement by the seller that, to their knowledge, there are no outstanding claims or liens against the property.
• Content: Typically includes the seller's name, address, and a declaration of clear title.

• Purpose: A document that discloses any known defects or issues with the property to the buyer.
• Content: May include information about structural problems, plumbing issues, electrical problems, or other defects.

• Purpose: A statement by the seller confirming the amount of property taxes paid or due.
• Content: Often includes the property tax assessment, the amount of taxes paid, and any unpaid balance.

• Purpose: A document that releases any existing liens against the property, such as a mortgage or mechanic's lien.
• Content: Typically includes the name of the lienholder, the property address, and a statement releasing the lien.

• Purpose: Used to certify that certain property tax exemptions or credits are no longer applicable.
• Content: May include information about the property's use, such as whether it was previously used as a homestead or for agricultural purposes.

• Purpose: A final statement that summarizes the terms of the loan, including the interest rate, monthly payments, and closing costs.
• Content: Provides the buyer with a detailed breakdown of all the costs associated with the purchase.

Additional Documents: Depending on the circumstances, other documents may be included, such as:

• Survey: A document that outlines the boundaries of the property.
• Title insurance policy: A policy that protects the buyer and lender against title defects.
• Homeowners insurance policy: Proof of insurance coverage for the property.

**NOTE** These document terms and explanations are provided as educational purposes and are not intended to be a means of providing any legal advice or guidance. **