Sell Your House Fast in Missouri. Get a Cash Offer From Local Investors.

How a Missouri home sale closes

Missouri title agents who hold closing funds in escrow must follow state good-funds rules (RSMo 381.412).

• Under RSMo 381.412, title agents may pay out escrow funds only after good-funds rules are met, such as certified funds or a 10-day wait.
• Your buyer and closing agent can tell you which funds and documents are needed for your closing date.
• A deed and any related documents are recorded with the county recorder of deeds.

Transfer taxes in Missouri

The Missouri Constitution bars any new state or local tax on the sale or transfer of real estate (Article X, Section 25).

• This section was adopted November 2, 2010.
• It prevents the state, counties and other political subdivisions from adding a new tax, including a sales tax, on real estate transfers.
• Recording and title fees can still apply. Your title agent can give you an estimate.

Seller disclosures

Missouri sellers often use a disclosure form developed by the Missouri Association of REALTORS, and state law requires some specific written disclosures.

• Under RSMo 442.606, a seller who knows a property was used to produce methamphetamine must disclose that in writing.
• A seller's agent must disclose to buyers all adverse material facts the agent knew or should have known (RSMo 339.730).
• Selling as-is changes repair terms but not the duty to be truthful about what you know.
• For homes built before 1978, federal law requires a lead-based paint disclosure and the EPA pamphlet, with some exemptions such as foreclosure sales.

Foreclosure process and timeline

When a Missouri deed of trust includes a power of sale, the trustee can foreclose without a lawsuit (RSMo 443.290).

• At least 20 days' notice of the sale is required for deeds of trust signed after August 28, 1989 (RSMo 443.310).
• The record owner is mailed notice by certified or registered mail at least 20 days before the sale (RSMo 443.325).
• Notice is also published in a newspaper. In counties with a city of 50,000 or more, it runs daily at least 20 times (RSMo 443.320).
• If the lender buys at the sale and the owner gave timely written notice, the owner may redeem within one year (RSMo 443.410).
• Many owners in this situation explore selling before the sale date. An attorney can review your timeline.

Probate and inherited homes

Missouri's small estate affidavit can be used when the estate, less liens and debts, is $40,000 or less (RSMo 473.097).

• The affidavit can be filed once 30 days have passed since the death and no application for letters is pending.
• Heirs can establish their right to the real estate by recording the affidavit with the recorder of deeds in each county.
• Independent administration is available when the will allows it or the heirs or devisees consent (RSMo 473.780).
• A beneficiary deed recorded before the owner's death passes the property at death (RSMo 461.025).
• A probate attorney can confirm which path fits your situation.

Selling a rental with tenants

A Missouri month-to-month tenancy can be ended with one month's written notice that sets an end date on a rent-paying date (RSMo 441.060).

• Fixed-term leases follow their own terms, so review the lease before you list or request offers.
• You can request a cash offer on an occupied or vacant rental.
• A Missouri landlord-tenant attorney can explain how an existing lease carries over in a sale.

Property tax and capital gains basics

Missouri residential property is assessed at 19 percent of market value, per the State Tax Commission.

• Assessors place new real estate values on the rolls every odd-numbered year.
• Tax rates are set by the local governments where the property is located, within legal limits.
• Federal law lets many sellers exclude up to $250,000 of gain, or $500,000 for married couples filing jointly (IRS Publication 523).
• To qualify, you generally must have owned and lived in the home for at least 24 months of the five years before the sale.

Notes for military sellers

The Servicemembers Civil Relief Act (SCRA) adds protections for servicemembers who own a home in Missouri.

• For a mortgage taken out before service, a lender generally needs a court order to foreclose non-judicially. This applies during service and for one year after, per the Department of Justice.
• The SCRA caps interest at 6 percent on qualifying pre-service debts, including mortgages for service plus one year.
• IRS Publication 523 lets eligible uniformed services members suspend the five-year test during qualified extended duty, for up to 10 years.
• A military legal assistance office or an attorney can review your situation.

Tell us about the house

Property type, condition, timeline and address. It takes about two minutes.

Talk with a local investor

An investor who buys in your area calls to learn about the property and your plans.

Review your offer

A quick walkthrough confirms the details, then you review a written offer on your own time.

Close on your date

You choose the closing date. The title or escrow company handles the paperwork and the funds.