Selling Your Home Step 6
Your closing date has been set! Hooray! This whole process is almost done.
Possession of the home happens at settlement. You need to be completely moved out before that happens. The buyer may choose to do a pre-settlement walk through. At this time, they're making sure nothing has changed from when they made the offer to when they take possession. They're checking to see if repairs are made, and if you've left the home in acceptable condition. The home buyer should be accompanied by their agent. As the seller, you should be sure to have the utilities on so that equipment can be operated. After closing, utilities can be switched out of your name.
If there are any deficiencies during the walk through, they should be noted. If the seller does not correct the problems prior to settlement, funds may be withheld by the settlement attorney for repairs. The selling broker will coordinate with the listing broker and seller to make repairs before settlement if possible. Upon receipt of bills and notification that repairs have been completed, the attorney will release the balance of funds to the seller, if money is escrowed for needed repairs.
At settlement you'll be signing a lot of papers and you'll hand over the keys to your home. Be sure to hand over other things too like shed keys, mailbox keys, garage door openers, etc. As the seller, you should bring warranty papers on equipment you're leaving int he house (or leave them in the house).
And once all the forms are signed, and the keys are turned over, you'll be done. At the point funds will be disbursed, but availability may depend on a number of factors. Ask your closing agent before closing when you can expect to receive your funds.
At this point, your house has been sold, settled and funds disbursed! Good luck in your new home!
Possession of the home happens at settlement. You need to be completely moved out before that happens. The buyer may choose to do a pre-settlement walk through. At this time, they're making sure nothing has changed from when they made the offer to when they take possession. They're checking to see if repairs are made, and if you've left the home in acceptable condition. The home buyer should be accompanied by their agent. As the seller, you should be sure to have the utilities on so that equipment can be operated. After closing, utilities can be switched out of your name.
If there are any deficiencies during the walk through, they should be noted. If the seller does not correct the problems prior to settlement, funds may be withheld by the settlement attorney for repairs. The selling broker will coordinate with the listing broker and seller to make repairs before settlement if possible. Upon receipt of bills and notification that repairs have been completed, the attorney will release the balance of funds to the seller, if money is escrowed for needed repairs.
At settlement you'll be signing a lot of papers and you'll hand over the keys to your home. Be sure to hand over other things too like shed keys, mailbox keys, garage door openers, etc. As the seller, you should bring warranty papers on equipment you're leaving int he house (or leave them in the house).
And once all the forms are signed, and the keys are turned over, you'll be done. At the point funds will be disbursed, but availability may depend on a number of factors. Ask your closing agent before closing when you can expect to receive your funds.
At this point, your house has been sold, settled and funds disbursed! Good luck in your new home!
