PreClosing And Closing Checklist For Sellers

Dated: 03/06/2016

Views: 63

There are a number of details that must be addressed between the signing of the final contract and the closing date. If you are using a real estate agent, your responsibilities will be dramatically reduced during this process.

The following list will help you stay organized:

 

Immediately upon acceptance of the contract

  • Follow-up on any terms outlined in the contract (providing homeowner association paperwork, clearance letters, etc.)

  • Make any repairs included in the contract

  • Provide the current mortgage loan(s) information and/or equity line of credit information to your agent (this should include your account numbers, contact information for the lender(s) and your personal information)

During the Home Inspection

  • You should not be onsite, but your real estate agent may be there as your representative

  • If possible, be accessible by phone to answer any questions

  • Provide your agent with keys to any areas (crawlspaces, attics, etc) that the inspector will need to access

  • If the property is currently vacant, ensure that all utilities are on prior to the inspection

One to two weeks following the acceptance date of the contract

  • Review any inspection amendment from the buyer with your agent and begin making agreed repairs

  • Provide your agent with your preferred closing time

  • Reserve your moving truck or schedule your moving service

  • If contractually obligated to provide a termite clearance letter, you should call the company that provided your initial letter prior to listing (this must be done no more 30 days before closing)

Two weeks before closing date

  • Get a change of address package from the post office

  • Begin notifying family, friends, debtors, etc of address change

  • Begin collecting information to pass on to the new owner (receipts for appliances, warranty information, owner’s manuals, repair and contractor contact information and dates of service)

One week before closing

  • Call your utility companies to schedule the final readings and the disconnect dates

  • Get directions to closing attorney’s office from your real estate agent

  • Collect receipts and information in relation to the work done to satisfy the inspection amendment and give copies to your real estate agent

Day before closing

  • Review the HUD 1 Settlement Agreement to verify that the terms of the contract are correct and pay special attention to the line items for water bills, homeowner association dues, and mortgage balances

  • If you have any concerns, discuss them with your agent

  • If there is a chance of any dispute, your agent will advise you to bring proof of payment to the closing

Day of closing

  • Bring a photo ID and any documents requested by the closing attorney or either real estate agent

  • Bring your checkbook, just in case there is a small item that needs to be handled on the spot (this is usually not necessary, but it’s always nice to have that option)

  • Bring updated termite clearance letter, if required by contract

  • Give the new owner your forwarding address and phone number in case anything is accidentally sent to you at the old address

Blog author image

Blair Humes

Grew up in the foothills of the Sierra Nevada Mountains, went to college at San Luis Obispo and Sacramento State Universities, went to Sea as a Merchant Marine for 16 years, built several homes in the....

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