SELLER’S CLOSING CHECKLIST

Few, what a relief! You’ve sold your house and the next chapter of your life is about to begin! That’s pretty exciting, but your work is not done yet. You still have a list of chores you need to do around the house and lots of paperwork to make sure everything is ready for the new owners. You are now under contract, which means following this information is important. Your real estate agent will assist with pointers and guidance (if this is your first time selling a home you may feel a bit confused at times, so never think twice about asking for help). Here are a few seller’s closing checklist tips you need to follow, so at least you have a general map for what to do and when to do it. Keep Reading

Signed Off on the Contract

You’ve agreed upon and accepted someone’s offer for your home. Now isn’t the time to kick back just yet (have a celebration beverage, but hold off on the party until later). First, you need to follow up on any terms included on the contract. This will vary based on your home. Maybe you need to offer homeowner association paperwork for both the new owner and the association itself. If you have any repairs detailed in the contract make sure you do these repairs as well. It is best to bring in a professional to do these specific repairs. Even if you believe you can do it, if the repairs end up being faulty you may be held for breach of contract, and that opens up an entire new can of worms you need to avoid.

You will need to provide any current mortgage loan information you have, or an equity line of credit to escrow. You’ll have account numbers, contact information and lender details to provide. This way, if you have a mortgage on the current home the money you receive will go onto the home.

The Inspection

It is best if you are not present during the buyers physical inspections.Even if you would like to meet the people who are taking over your home of memories, you need to hand this task over to the real estate agent. Keep your phone around in case any questions come up, but your agent will likely handle most issues. You’ll also need to give your agent keys to all areas of the house, whether it is a crawlspace, a locked closet or anywhere else you typically have locked up.

Maybe you decided to skip out of the house before anyone purchased it. If you were able to swing the second mortgage for the time being that isn’t a bad way to go. However, if you are away from the house and had the utilities turned off while gone, make sure to have these utilities turned back on prior to the inspection. Keep the utilities on until close to the close of escrow, it is always nice to coordinate with the new owners so it transfers instead of actually being turned off and then having to schedule a turn on.

Change of Address and Documentation

Telling your financial providers and other services of your new address is important, but chances are you’ll forget something. Establish a change of address at the post office and notify everyone else you can think of so the mail does not go to the former address.

If you are leaving newer appliances with the house, try to provide receipts and warranty information to the new owners and provide dates of services if you received any (such as on the furnace or AC).

Signing Off

When it is time to sign off on everything at escrow, bring your ID and all documents to your closing. You should also bring your checkbook just in case there is a minor deposit you need to cover. Once all of this is cleared and done, you are free of the old house and can move on with the rest of your life.