Closing day marks the official transfer of ownership of your home to the buyer. To ensure a smooth process, follow these essential steps:
Gather Necessary Documents
- Property Tax Information: Gather recent property tax bills and statements.
- Homeowners Insurance Policy: Provide the buyer with proof of coverage until closing.
- Home Warranty (if applicable): Transfer or cancel the home warranty as needed.
- Maintenance Records: Prepare a list of recent home maintenance and repairs.
- Keys and Access Codes: Ensure you have all keys, garage door openers, and security system codes.
Final Walk-Through
- Property Condition: Conduct a final walk-through to verify the property’s condition matches the agreed-upon terms.
- Appliances and Fixtures: Ensure all appliances and fixtures are in working order and included in the sale.
Coordinate Utilities and Services
- Utility Transfers: Arrange for the transfer of utilities (electricity, gas, water, etc.) to the buyer’s name.
- Service Cancellations: Cancel any services you no longer require, such as cable, internet, or lawn care.
Calculate and Prepare Funds
- Closing Costs: Understand the closing costs you will be responsible for.
- Net Proceeds: Determine the amount of money you will receive from the sale after deducting the mortgage balance, closing costs, and realtor commission.
Update Your Address
- Change of Address: Notify the post office, banks, credit card companies, and other relevant parties of your new address.
Plan for Moving
- Moving Arrangements: Schedule your move to coincide with the closing date.
- Packing and Preparation: Begin packing and organizing your belongings.
By following this checklist, you can streamline the closing process and ensure a smooth transition.
