Well, you have decided to sell your home. You have found a realtor and put the home up for sale. Now what? Below is a list of the 5 most common things you must get before and after closing on the property.
1. Paperwork (ASAP)
This is by far the most important thing you must do. Any and all paperwork you can find in regards to your mortgage and any lines of equity you might have must be pulled out. The better the paper trail, the quicker the closing. Banks are not great at getting the paperwork showing what you owe and have paid off together. If you get an offer on your home, you will want to close as quickly as possible. The bank can stall that process more than 30 days. It can be a real nightmare to rely on the bank to put all of the pieces together. Do yourself a favor and create a folder to put all of your paperwork in.
2. Pipes and the winter weather (Only if you don’t occupy the home)
If you don’t occupy the home you are selling, you will need to winterize the pipes so that they don’t burst in the cold weather.
3. Utilities (once you are a week or less from closing)
You will need to get a final water reading. You will also need to call the gas and electric company to notify them of the transfer in ownership.
4. At the closing
Make sure you bring a photo I.D. Your driver’s license will suffice.
5. Homeowners Insurance
Once the closing is complete and everything has been funded, you will want to call and cancel your homeowners insurance.
note: Each sale is unique. It is imperative that you have good communication with your realtor. Make sure you go over the necessary items that are needed so that there are no surprises. In addition, make sure that you know the timelines for getting each thing accomplished. If a water meter is read too soon, you will need to get another reading before closing. Timing is everything when you are wrapping things up for closing.
If you are interested in a consultation with Wendy McCance, you can contact her at:
Real Estate One