The following is a short description of the documents that the Seller in the transaction will likely have to review and sign at closing:
Compliance Agreement For transactions involving a mortgage loan, this is an agreement signed by the buyer and seller stating that they will cooperate with the lender in the event of clerical or typographical errors.
Payoff Cover Letter This is a letter that the title company includes with the payoff check when paying off the seller's open mortgages on the property.
Title Affidavit This is also called a Owner's Affidavit (or Seller's Affidavit) The Title Company issuing the title insurance policy will require you to make certain affirmations regarding title, or ownership, to the property; a declaration that all taxes are paid in full, and certain other affirmations related to insuring clear title to the property.
Deed This is the legal document that creates the transfer of title from the seller to the buyer. The deed should be reviewed thoroughly as certain warranties may be made by the seller. This document will be recorded in the county where the property is located, and becomes a public record.
IRS 1099 Form This form is required to be completed by the IRS for real estate transactions. The form must include the sellers forwarding address and a social security number.