The Closing

Once the more formal contract is signed, the appraisal is complete, the title has been ordered and completed, the buyer’s lender has completed their underwriting of the mortgage and has cleared the loan to close, the sale of your home be scheduled to close. In anticipation of closing, you will want to confer with your attorney on the items you will need to bring with you to the closing, such as valid picture IDs and your checkbook and all keys to the home. You will want to make sure your home is completely clear of all your personal possessions and is at least broom-clean at least 24 hours before the closing. This especially means any paint cans and solvents. Many people think that these items will be of interest to the new buyers and in most cases they are not!

Be sure to contact all your utility providers to discontinue service as of the day after closing. This is to be sure that there is proper time to transfer services and that no critical systems will be shut down in the home before the buyer takes possession that could result in damage to the property. The buyer will usually schedule a final walk-through to make sure everything is in order and all items that were included in the sale are still in the home. Please do not decide on the second-to-last day to start removing things like light fixtures or appliances. This will surely cause issues at closing.

There will be some costs that you as the seller will have to cover to settle the sale of your home. There will be your attorney’s fee, transfer tax, which in New York State is $4.00 per thousand of the sale price, and some miscellaneous filing fees. You as the seller will be refunded any taxes and unused fuel on a prorated basis as well. Once all is settled and all the documents have been signed, the deal is closed and you can hand over the keys to the new owners.

 

Ready to sell your home? Let’s get started: contact me.

 

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