Let me preface this blog post by saying that while most of the suggestions here are pertinent only to Minnesota and may not be complete, it will suffice as a guideline. That said,
What Do You Need to Do Prior to Your Closing?
Comply with all requirements listed in the purchase agreement. Make sure that you have a copy and that you understand what it says. Do not take or sell items included in the purchase agreement. Make sure that if there is a septic system and private well that those systems are functional and have passed local required inspections.
Deliver the abstract to your Realtor or closer (if the property is abstract).
If possible, furnish the closer with a copy of your Owner's Title Insurance Policy.
Cancel automatic mortgage payment withdrawals.
Contact all current utility providers regarding the change in ownership and make arrangements for final readings and payments of bills.
Contact the closer if there have been any recent repairs and/or improvements done to the property.
Contact the closer for special arrangements if all parties cannot attend the closing.
What Will Occur at the Closing
The Final Settlement Statement will be reviewd and signed.
Closing documents will be reviewed, signed and notarized.
Funds will be collected and disbursed.
Keys, garage door opener(s) and other property information will be given to the new owner(s).
Documents Needed for Closing
Photo Identification (Drivers License, State ID Card) for notary purposes
Addresses for the past ten years
Any inspection reports from your municipality
Septic certification, if applicable. The water test report should have been sent to the Realtors.
Keys and garage door opener(s)
Any information on appliance left at the property that would be helpful to buyers, including warranties, repair records, etc.
Next....Obligations of the Seller
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