Closing the Sale

What to Expect

Closing the sale is when the funds and documents are transferred in order to transfer ownership of the property to the buyer. Between the escrow officer & the attorneys, they will review the contract and find out what payments are owed by who, prepare documents for closing, perform the closing, make sure all payoffs are completed, the buyer’s title is recorded, and that you receive payoffs that are due to you.

transferring keys to new homeowners after closing the sale of selling your home.

YOUR COSTS

Seller’s commonly pay:

  • Mortgage balance & penalties if applicable
  • Any claims against your property
  • Unpaid assessments on your property
  • Real estate agents, for payment of commission
  • Title insurance policy
  • Home warranty

WHAT TO BRING

  • A GOVERNMENT PICTURE ID
  • HOUSE KEYS
  • GARAGE DOOR OPENERS
  • MAILBOX AND ANY OTHER SPARE KEYS

AFTER CLOSING

Keep copies of the following for taxes:

  • Copies of all closing documents
  • All home improvement receipts
signing documents for new home transferring home ownership after selling home

Closing Steps

  • TRANSFER FUNDS

    The transfer of funds may include payoffs to:

    • Seller’s mortgage company as well as any lien holders
    • Local government, if any property taxes are due
    • Third party service providers
    • Any commissions
    • Sellers, if there are ay proceeds from the sale of the home
  • TRANSFER DOCUMENTS

    The transfer of documents may include:

    • The deed to the house
    • Certificate of Title, Bill of Sale, and other real estate-related documents
    • Signed closing instructions and/or settlement statement
    • Receipts (if needed) for completed repairs, per sales contract
  • TRANSFER PROPERTY

    The transfer of property may include:

    • Recording of the signed deed (completed by third-party) at the county courthouse
    • Post-closing agreement, if seller will need to rent back home for a specified time frame
    • Exchange of keys, garage door opener, security codes, and/or devices, appliance manuals, etc.
    • Homeownership legally transfers to the new owner when the signed deed is recorded at the seller’s local county courthouse.