It is great news that your house is sold in today's market and economy. I am happy for you, too! Before you can get the check at closing or move on to your next plan, you have a few things to do as a seller.
It doesn't matter you are a seasoned seller with experience, or first time seller and get ready to buy your second home. This list applies to all sellers in a typical transaction.
There is always exception in everything, make sure you know what you need to do, talk to your agent and let him/her to walk you through.
In order to get to closing, it takes the whole team to work together. It is not magic, it takes co-operation from everyone to make it happen. Are you willing to be a good teammate? Yes? I thought you will say yes. I am glad to hear that.
Let's look at the list below and hope it will help you out before closing.
- Inspection-Buyer will do a home inspection within 10 business days after the contract is accepted. You don't need to be at the house on the day of inspection. To make the inspection easier for both seller and buyer, make room for the inspector to go up to the attic, the garage, bonus room if you have one. If there is some special instruction you need to tell the inspector, just leave a note on the kitchen counter.
- Repair list-After the buyer has done the home inspection, your agent will present the repair list to you. It depends on how your contract was written out about the repair allowance, repair items can be negotiable, check with your agent and he/she will walk you through it.
- Termite contract-You need to have an active termite contract on your house in order for you to close. If you already have one, good! Your agent will request the Letter of Clearance from your termite company. If you have not got one yet, you need to find a termite company that you want to use and get the inspection done so they can issue the Letter of Clearance before closing. This is your expense to provide the termite protection to the buyer.
- Loan pay off-Your agent will need your home mortgage information like the pay off amount, the loan number, the name of the mortgage company, their contact number and person to speak to if any. These information will be forwarded to the title company and it will be paid off for you after the closing.
- Final walk through-Let your agent know when you finished repairing the items that needed, so the buyer can do their final walk through. It usually takes place a day or two before the closing day. The sooner you finish the repair, the better for both of you and the buyer. You don't want to do it last minute in case anything unexpected may pop up. Always allow extra time for yourself.
- HUD-1 preliminary-Your agent will send you a preview of the HUD-1 closing statement, so you can go through the numbers to see if they are correct. Like your loan pay off amount, any fees that apply, taxes, and closing cost. If you have question, ask your agent.
- Closing-Everything looks good? Great! It is time to close. Remember to bring your driver license to the closing.
- Moving out-You have a certain numbers of days to move out if you are still living in the house. It depends on how many days the buyer gives you and states on the contract. Check with your agent. Remember to give the keys, garage remote control if any to your agent so he/she can give it to the buyer's agent to the buyer.
Every transaction is different, these are the typical to do list for a seller before closing in Marion , West Memphis, Ar. and/or surrounding areas. Always ask your agent if you have question about your transaction.
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