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The sale of a house in the United States or Canada might involve some or all of the following steps: Hiring of a real estate broker the seller and handle the logistics of the advertising and sale, except for "for sale by owner" properties where the owner(s) may consult legal counsel or obtain copies of a real estate contract.
Keep your mortgage documents and related home sale records for at least seven years after selling your home. This includes proof of mortgage payoff , the closing statement and receipts for capital ...
Tax implications of selling a house after 2 years When deciding whether to sell, you’ll want to consider the potential tax implications as well. Selling before the two-year mark can be costly.
How long you should keep mortgage documents after paying off your loan varies according to the type of document and how easy it is to get copies if you need them. Trending Now: 5 Types of Homes ...
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
However, the real estate contract can specify a different date when possession changes hands. Transfer of possession of a house, condominium, or building is usually accomplished by handing over the key(s) to it. The contract may have provisions in case the seller(s) hold over possession beyond the agreed date.
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