05 Mar Preparing for Closing Day: The Seller’s Perspective
My husband and I recently sold our house and next week is closing day. As a real estate professional, I know how this works. But knowing it and experiencing it two different things. It’s always a bit nerve-wracking.
But closings are pretty standard. The seller can prepare for closing:
- A title search will verify the property’s ownership history and confirm that you are indeed the legal owner who has the right to sell the property. A title search will reveal if there are any liens or judgments against the property and if there are — steps will need to be taken to resolve them before the closing can occur.
- If any repairs were requested during the home inspection, you need to provide receipts or photos before closing — proof that the repairs were completed. They should be sent to the buyer’s agent as soon as possible.
- The appraisal must be completed for closing day and included in the paperwork.
- A final walkthrough is scheduled within 24 hours of closing to ensure the repairs are completed, the house is clean, and no new problems or issues have come up.
- You’ll be required to have all your belongings removed from the property before closing, unless they have been contractually agreed upon to stay (i.e., appliances that have been negotiated).
- Collect all manuals, warranties, and paperwork that pertain to the house for the new owner. These may include paperwork on a roof, HVAC system, water heater, etc.
- If the washer and refrigerator are not staying, be sure to turn off the water valves to prevent leaks.
- Submit a change of address form and update your mailing records.
- Finally, while you won’t be at closing, you’ll need to sign papers and give the closing agent the keys!
Your agent will walk through other details, but that’s an overview of what the seller can expect for closing. Next week, we’ll talk about closing from the buyer’s perspective.