Updated June 4, 2024 . AmFam Team
You’ve sold your home and are on to the next step in your dream pursuit! Whether you’re working with an agent or selling on your own, here’s a handy list of what to expect during the closing process.
After signing the contract, there’s usually a period of six to eight weeks before the closing is final. During that time, you’ll have a few things to take care of to ensure that everything goes smoothly. In fact, this in-between time can be busier than most people expect!
Plan for the following:
Tip: Don't cancel your homeowners insurance policy until the transfer of ownership has been recorded.
This is the day everything happens, and you’re on your way to your next big adventure!
The day your home transaction closes is the day your deed is sent to be filed at the county courthouse. You and the buyer will sign a stack of closing documents. All bills will be paid such as agent commissions, mortgage payoffs, down payments, etc., and you will receive a proceeds check if one is due to you. The buyer receives the keys, remotes for the garage doors and possibly receipts for any work agreed to be completed.
Remember to bring the following:
Hint: Leave the buyer the home’s warranty and instruction books for heating, cooling, and plumbing systems and for appliances that will stay with the house.
What you pay at closing depends partly on local law and practice and the terms negotiated in the sales contract. Just remember that the contract rules. At this point, it’s too late to go back on your commitment to pay for something already agreed upon.
Expenses to expect:
This article is for informational purposes only and based on information that is widely available. This information does not, and is not intended to, constitute legal or financial advice. You should contact a professional for advice specific to your situation.
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