Property Seller Mortgage Closing Tips
Now that you prepared your home for sale, you have hired a Real Estate Agent, and you have an accepted contract, it’s time to prepare for your closing day. Here is a list that will help you prepare for your closing day. This list will help the process go as smooth as possible and make sure you are 100% ready and prepared to hand over the key on Closing Day.
Ensure Your Escrow Closes on Time
1. RESPOND AND COMMUNICATE TO ALL REQUESTS FROM YOUR ESCROW COMPANY:
As closing day approaches, make sure you are actively responding to any request from your real estate agent and your escrow officer. It is so important to answer these issues promptly because more times than not whatever your escrow officer or real estate agent is requesting is something they need to get the transaction approved for closing. If you don’t respond hastily, it could result in delays to the time frames even your put your closing date being out.
2. PROPERTY REPAIRS:
If you agreed to any repairs requested by the buyer during the inspection period, make sure you are getting all the repairs completed before the closing date. The buyer will conduct a final walk-through of your property a day or two before the closing day, so make sure all repairs are completed by then and provide the buyer with any receipts, reports, or clearances that you have received from the companies you use for your repairs.
3. FOLLOW UP WITH YOUR ESCROW OFFICER:
Follow up with your Escrow Officer to make sure they have everything they need from you for a smooth closing. Double-check and make sure your Escrow Officer has the information they need to request any pay-offs that may have appeared on the title search. When you received your estimated settlement statement, review it and ask questions. Make sure your Escrow Officer has the correct banking account information to send you your proceeds on Closing Day.
4. CLEAN AND PACK UP YOUR HOUSE OR PROPERTY:
Do a deep clean! It is essential to leave your home as clean as possible for the new owners. How would you feel if you walked into a dirty house? During your packing process do a final look and make sure you leave nothing behind. Do a last check of your cabinets, drawers, behind appliances, storage areas, etc.
5. CLOSE YOUR ACCOUNTS ASSOCIATED WITH YOUR PROPERTY:
Now that your closing date is right around the corner, it is time to close your accountS. Make a list of any account associated with your home; for example, utilities, homeowner’s insurance (close or transfer to your new home), cable & internet, water/sewer, garbage, newspaper, cleaners, pool services, lawn care, etc.
6. OWNER’S MANUALS AND WARRANTIES:
Leave behind any owner’s manuals and warranties that you have for all appliances for the buyer. If you had any repairs on your appliances, it would also be nice to leave behind any receipts for the repairs.
7. CHANGE OF ADDRESS:
Don’t forget to submit a change of address with the post office and any service providers that will need your new address. Let your friend and family know of your address change.
8. PREPARE YOUR PROPERTY AND LOCK-UP:
On your way out after you have taken a last look, grabbed your last-minute items, and deep cleaned your home. Say your final goodbyes and make sure you lock up the house on your way out. Close all the windows, lock the doors and turn off the lights.
9. ESCROW CLOSING DAY:
Wait for confirmation from your real estate agent that your home has recorded and is now closed. Once you receive that call, make the arrangements with your real estate agent to turn over your keys, garage door openers, and anything else that you want to provide to the buyer. Check your account depending on what time you get confirmation of recording your proceeds will be in your account within a few hours of the next morning.
CONGRATULATIONS, you made it to closing day!