How to Close on the Sale of a Home You Are Selling

Closing on a home refers to the point in the transaction when all the terms of the contract have been met and you are ready to sign the final papers to transfer ownership of the property. Here's how' to make sure the closing goes smoothly.

Instructions

Difficulty: Easy

Things You’ll Need:

• Escrow / Title Company
• Home Warranties
• Moving Companies

1. Contact a moving company or reserve a moving van 30 days prior to the close of escrow (the day the property officially changes ownership).
2. Make sure all inspections have been completed according to the terms of the contract, all required work has been performed and clearances or re-inspections have been provided.
3. Get a final estimate of the closing costs from the title company and compare it to the contract. Make sure all monies owed to you or being paid by you are correct.
4. Have the buyers do a final walk-through, and have them sign a statement that everything in the home is as it should be and that all the work has been completed to their satisfaction. That way, if they come back later and say they weren't happy with something, you have their signature on that document to refute any claims.
5. Order a home warranty or make sure a home warranty has been ordered so you and the buyers will be protected once the transaction closes. (Do this three to five days prior to the close of escrow.)
6. Contact the phone, gas and electric companies at least one week prior to the close of escrow and set a date for end of service or transfer of service to a new address.
7. Give the buyers all keys, remote controls to garage door openers, and codes to security alarms and gates.