Whether you are working with a real estate agent or doing it on your own, selling your home is not meant to be easy. From staging it and scheduling showings to handling the paperwork, it is easy to see why so many people trust professionals to walk them through the sale of their home. Fortunately, proper understanding and preparation can help you sell your home in a less stressful manner. Here are a few tips to prepare for closing when selling your home.
One of the most important steps you need to take before closing is to gather all documents you will need to complete the sale. If you are using a real estate agent, they will be able to give you a list of documents you will need at closing, but it is helpful to know the documents you will need in advance.
If your home is paid off, you will need to bring the deed to closing. If you have a mortgage on the property, a document showing the actual payoff from the mortgage company will be necessary.
Make sure you bring your state-issued identification to closing, as well. This is necessary for confirming your identity when finalizing mortgage, insurance, and tax paperwork during the sale of your home.
Prepare the Home
Many sellers will stop utility service in their name for the actual day of closing. This is helpful for a few reasons.
Basically, it allows the new owners to start service in their name on closing day, which is beneficial if they are moving into the home on the actual day they close.
Stopping service in your name on closing day is also important so you can keep service on for the final walk-through, allowing your buyers to test out all services before the sign papers to close.
Consider having documents or email proof that your phone, cable, internet, water, electricity, and gas services have been canceled on the day of your closing.
Once your paperwork and home are prepared to close, you should line up the services of professionals to guide you through the closing. If you are already using an agent, this task should be easy. If you are selling on your own, make sure the buyer's agent is ready for closing.
It is also important to hire a real estate attorney if your real estate agent has not already lined one up for closing. If you have liens or judgments or are selling a property that was left to you by a deceased relative, an attorney can help you navigate the sale in an effective, legal manner. Also, if you are selling a home that is in distress, an attorney should be consulted to protect yourself from future lawsuits.
Proper understanding of the closing process is key to a successful sale. This guide will help you prepare for the closing of your home. If you have any further questions, contact a real estate attorney such as David S. Riehl, Attorney At Law.
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