Call Us Today: 704-660-0292

Add "CT Compare" Widget via Appearance > Widgets > Compare.

Important Advice For Sellers On Closing

You’ve finally decided to take the big step and sell your home to upgrade to something larger, or to downgrade to something with less maintenance. You’ve received the perfect offer and the buyer has the financing in place. All that’s left is packing up and closing. However, it’s not quite as easy as that. You should be well prepared for the closing before the closing date. So, here is some important advice for home sellers on closing in 2017.

Closing Documents

Be sure to keep copies of all documents together. You may need them again, even after the closing. Compare the good faith estimate with the HUD-1 form to ensure that all of the amounts are correct. You don’t want to get shorted after closing because someone made a typo on a number.

Also, be sure that you have all of the documents required for the closing. If you know that certain documents are required but someone tells you that “there’s an exception,” check with the other professionals working on your closing, especially the attorneys. If the mortgage underwriter says he or she needs three years of tax returns, but someone else tells you two, you should have three years, since the underwriter is the person requesting the extra year.

Buyer Requirements

The buyer will have an inspection before he plunks down his money. At the inspection, the buyer may ask that certain things be repaired prior to closing. The buyer may ask you to repair some things even before an inspection. If you do agree to make certain repairs, stay on top of the repairs. The last thing you want to do is to try to get a repair tech out at the last minute. And, should a repair take longer than expected, you don’t want the work to be finished after the proposed closing date. Sometimes, the buyer may agree to a price adjustment if he or she prefers using his or own repair technicians or prefers doing the work himself or herself.

Closing Questions

Be sure to ask your agent, attorneys, mortgage broker and others any questions that you may have. If you assume something, you may be left short at closing. Or, a misunderstanding may delay a closing for hours or even days.

Check at Closing

If you are required, even as a seller, to bring funds to the closing, be sure you know the exact amount, and whether you need a certified check or if a regular bank check will suffice. If a certified check is required and you do not bring that with you to the closing, the process will be delayed.

The House

Before you leave the house the last time, be sure it’s clean. After all, you wouldn’t like to spend days cleaning a house you just bought. Once everything has been packed and cleaned, make a last walk through to check all closets, drawers, storage areas, the attic and the basement. Don’t forget to look on the upper shelves in closets. Leave all copies of keys, door openers and the alarm system code in a kitchen drawer. Turn off all water shut-off valves, especially if the seller won’t be entering the house for a few days. Leave a note for the buyer stating you closed all the shut-off valves.

If you agreed to leave certain pieces of furniture, appliances or other items, be sure that they are still in the house when you leave. Lock the door behind you.

Visit On Point Carolinas Realty

When you’re ready to sell your home, contact us at On Point Carolinas Realty to discuss the best way to sell your home and the closing time line with one of our agents.

Share This
About The Author
Gus Testa

Gus Testa, Top Realtor with On Point Carolinas Realty, LLC, has been in real estate sales and management since 1977. In 1993, after leaving family, friends and his owned real estate franchise firm behind, he and his wife Beth made the decision to “head South” with their 2 sons. Since that time there has been no looking back. Gus immediately began working for a local and well respected new home builder, building beautiful neighborhoods in and around the Charlotte area. In his first year of new home sales he was awarded “Rookie of the Year” for the highest volume of sales for the company. Then in 2002, it was time to move on and Gus joined major developer Crescent Resources as one of their Residential Sales Associates. From 2002 through 2012, Gus along with his business partner Kim McBee, continually sold several million dollars in volume and became very familiar with the movers and shakers in the Real Estate industry in and around the Lake Norman area, the Charlotte area and the Northern most portions of South Carolina. In 2013 Gus and Kim partnered with a local developer to open On Point Carolinas Realty, LLC; a full service real estate company, listing and selling new and re-sale homes and home sites. Gus holds licenses in both North and South Carolina.

Leave a Reply

Your email address will not be published. Required fields are marked *