We are almost there! You got an accepted offer on your property, made it through the mortgage bank’s appraisal, title search, negotiated the Inspection Response, completed any necessary repairs from the inspection and now we just have to get through the Final Walk-Thru and Closing.
At least three days prior to closing, you will receive a Settlement Statement from the title company that outlines all of your selling expenses and deposits & credits from the Buyers. The bottom line number will show your proceeds from the sale of your property. You and I will both review and make sure there are no errors. If we discover an error, we will work with the title company to correct before closing. We will also make sure the title company knows if you want to receive your proceeds in the form of a check or if you want it wired directly to your bank.
On closing day, the Buyer will have one last chance to walk through the property to make sure that it is in the condition that was agreed upon. He will ensure that the movers didn’t take anything they weren’t supposed to and didn’t bang up any walls or door frames whilst moving out your belongings. It is rare, but there have been times when the movers took washers or dryers that were supposed to stay with the house. It’s not a bad idea to put a ‘STAY’ note on any appliances or other furniture that should not be loaded onto the moving truck. The final walk-thru usually occurs a couple of hours before our scheduled closing. The buyers agent will use CSS to schedule the final walk-thru just like the showings were scheduled.
The closing will occur at a mutually agreed upon date and time and is usually at the title company office. For the seller, the closing is pretty easy and the process takes about an hour. You will need to bring a valid and non-expired photo identification, like a drivers license or passport. There is no exception or alternative id. Make sure your id is not expired!
The closer will review the Settlement Statement with both the buyer and you and will begin the signing process. The buyers have way more papers to sign than the sellers, but the closing agent will review all the documents with you as you sign them. Once the signatures are complete, he will leave the room to make copies for both parties and actually wire the money or cut a check to the seller. This is a good time to hand the keys, garage door openers or other important papers for the property to the buyers. When the closing agent returns with the copies and proof of funding, you are free to go.
You did it! It was a long and emotional process, but you sold your property! It is my pleasure to walk with you on this journey! Congratulations!!
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