Assistance with For-Sale-By-Owner

Jun 29, 2016

How to Prepare for Your Home Closing

You have listed your home as for-sale-by-owner and finally secured a contract with the buyer. The next step is to prepare for closing. Closing day typically occurs within 30 to 45 days after the signing of the contract.

What Happens at Closing

Closing is the most important day in real estate transactions. The title is transferred to the buyer and all funds will be collected to pay off the purchase price, as well as any existing mortgage liens. You will receive the proceeds from the sale on this date or within one to two days afterwards.
Before you reach the day of closing. You must make sure that you have fulfilled all of the required steps and legalities for a successful property transfer. Here is a checklist to help you prepare for closing.

• Schedule a date for closing that is acceptable by all parties, including the buyer, real estate attorney and the title company.
• Notify all utility companies of the last day of service in your name.
• Perform all necessary repairs required under the contract.
• Review the title report and clear up any issues that may arise.
• Obtain all home insurance and title insurance documents.
• Obtain satisfaction letters from existing mortgage lenders.
• Obtain a survey of your property to furnish to the buyer at closing.
• Prepare the deed for the property and other closing documents, such as the bill of sale, affidavit of title and tax transfer documents.

Get Assistance with Closing

Selling your property on your own is a time-consuming process and involves a great deal of paperwork. Title professionals can provide the assistance that you need to properly facilitate the closing process and transfer ownership to the buyer. We offer a variety of title services that can help you with closing the deal on your home.