Week 9: Pre-Closing Tasks

Week 9: Pre-Closing Tasks to When Selling Your Home

Love Selling Your Home Series: Week 9

This series, Love Selling Your Home: Minimize Your Stress, Maximize Your Profit, is a step-by-step guide that covers everything you need to know to sell your home in today’s market, from finding a real estate agent to all the way to Closing day.

You’re now one step closer to officially selling your home. Even though you have a contract with buyers, you’re not done yet.

There’s a lot to get completed before closing day, and you might feel like your “to-do” list keeps growing and growing. And, you’re right!

Keep in mind that no one wants the transaction to fall through or be delayed at this stage because of a mishap. Here’s what you need to focus on:

What to Expect

Try not to be too distracted by moving logistics or good-bye parties. It’s important to be very organized in the days leading up to your closing. 

Make sure you focus on the things you need to get done in your home and also the items that need to be prepared for Closing Day, also known as Possession Day.

I usually advise to be out of the house a day or two before Possession Day. Make sure all your Possessions not listed as included on the Contract are out of the home. Unless it is written in the Contract, you don’t have to have your home professionally cleaned, but do try to leave the home clean and tidy. Imagine yourself as the Buyer. You wouldn’t want to take Possession of a dirty house! If you have the funds to do so, I highly recommend getting your home professionally cleaned. You will have enough to do in the home you just bought!

Home Inspection by Buyers

Your contract may include a contingency / Condition that gives the buyers a certain number of days to complete an inspection by a professional. 

On the day of the inspection, you should not be at the home but the Buyer’s agent will be present, and the Buyers may be present as well. You can be available via phone to answer any questions though. Make sure all of the utilities are on even if you have moved out at this point.

Depending on the inspector’s report, the buyers may ask for repairs. Try to renegotiate the price to compensate for handling the repairs themselves, if you can.

If there were any repairs or replacement of items you agreed to complete after the inspection, make sure to have these Completed before Possession day. You may be required to provide proof of repair via receipts and /or allow the buyers a final walkthrough prior to Possession to check to see if these items were completed. Both repairs and any walkthroughs should be written into the Purchase Contract.

Preparing Your Home

It can be a whirlwind of activity in the final days of living in your home.  However, you do want it ready for the new homeowners and not have any loose ends. You may be moving out … but they are moving in!

• Make any necessary repairs after the home inspection if agreed upon. Collect any receipts and information on this work to prove you have satisfied any inspection amendments.
• Contact your utility companies and let them know you have sold your property and new owners will take possession on the date you agreed to. Do NOT have them disconnect the utilities as it can take DAYS to have have them turned back on! You should schedule a final reading too.
• Contact your insurance company to forward your mail with the post office. Notify others of your change of address. Once your lawyer has received the funds for your old home, you can cancel your home insurance. Do NOT cancel before you have the money, in case if delays in Closing.
• Organize any information to pass on to the new owners about the home, such as appliance information (receipts and manuals); warranties; repair records for appliances, water heater, furnace, etc.; and any contractor dates of service. This is when your home maintenance manual comes in handy! It is always good to leave a contact number / email in case mail or parcels arrive for you at the old address!
• Collect and label all keys to every door, any mailboxes, garages, outdoor shed, etc. and leave on the counter or in a drawer. Don’t forget to provide other information such as mailbox number and garage door codes, front door codes, etc.
• Again, make sure your home is left the same way you would like if you were moving in! Good karma goes a long way!

Meeting with Your Lawyer

Usually a week or a few days before Closing / Possession, your lawyer will contact you to come in and sign paperwork, transferring the Title from you (The Seller) to the Buyer. Don’t worry about submitting the sales paperwork – this will be handled in most cases by the Listing Brokerage.

• Your lawyer will contact you to come in and sign paperwork once they have received all the paperwork, including mortgage information, if applicable.
• Bring information about where you’d like your proceeds from the sale to be sent to once your lawyer receives the money (also called key release).
• Your lawyer will let you know what to bring to this meeting. You will need to bring your govt-issued photo ID, such as a driver’s license. If you are buying a home you can sign those documents as well at the same time, and will need to provide proof of insurance before a mortgage can be issued. Don’t lawyer, your lawyer will let you know what you need!
• If there are any hiccups or problems during this time, do let me know and I will help out if I am able to. Lawyers don’t typically tell us if there are problems, but we jump in and help if necessary!

As your agent, my job is to keep you on track and make sure you know what to do when, so nothing falls through the cracks.  That’s my responsibility as your agent, not yours!  Just know if we work together to sell your home, I have a system that ensures you know what you need to do when and even how to do it.  I leave nothing to chance and do as much as I can to make sure this part of the under contract phase goes as smoothly as possible for you.

You just learned that you’ll be busy with many pre-closing details, which includes moving too. That’s why the next article is perfect — Get Organized for the Big Move & Beyond. Here’s the help you need in order to say “good-bye” to your old home and say ”hello” to your new one!

Questions? Contact me (HERE)!