What Is a Property Report When Selling a Home?

Around 5.34 million homes sell every year. Do you want to sell yours?

If so, you might need to get busy handling all the details for the sale.

One thing you’ll need when selling your house is a property report! Do you know what this is?

If not, read this guide to learn more about property reports and why you need one when Selling Your Home.

The Basic Concept of a Property Report

The easiest way to understand what property reports is to realize they are comprehensive profiles of homes. Every home is unique, and while you may need several types of reports, this is the primary one to have.

Every part involved with a real estate transaction uses this report, including buyers, sellers, lenders, lawyers, and real estate agents.

When anyone wants more information about a house, they can turn to this report to learn many crucial things about a home.

The Details It Includes

You can work with your real estate agents to prepare this report when selling your house. Here are some of the details it should include.

Property Description

A property report begins with the home’s property description. Typically, this includes its address, location, and square footage, but it might also include pictures and other details.

Sales History

Next, you’ll find the home’s sales history. The sales history tells you every listing and sale of the house, including prices.

Tax Information

The property report also contains tax information. This information tells potential buyers how much the property taxes cost for the house, which is a vital detail to know before a buyer puts in an offer.

Survey Details

Many property value reports also include survey details. A licensed surveyor can check a property’s boundaries to determine where they are. The surveyor also checks for easements, zoning, and classifications.

When complete, the surveyor prepares a report that illustrates these findings.

Neighborhood Demographics

You might also read about the demographics in the neighborhood in this report. For example, you can learn the average ages of people in the area and the average incomes.

Local School Information

Finally, this report should state the schools in the district. Buyers with kids generally want to know what schools they can use if they purchase a home.

How Buyers Use It

When someone is buying a house, they can ask for the home’s property report. Then, the person can review it to learn more about the house and use it to decide if this is the right home.

Buyers always want to see these reports before making offers on homes, as they offer a fast and easy way to learn the most important details about a house.

Proper Preparations Can Help You Sell Your Home Faster

Through proper preparations, you might sell your house faster. Is this what you’re hoping for as you get ready to list it?

If so, you might want to talk to your real estate agent about getting a property report for your home. It might help you find a buyer faster.

You can browse through the rest of our site to find more interesting articles about home sales.