You’ve found a buyer for your property, and the closing day is approaching fast. Congrats! But before you pop the champagne, there are a few things you need to take care of as a seller to ensure a smooth real estate closing. Here is a real estate closing checklist to ensure a smooth closing process!
Anna Maria Island Real Estate Market Watch
The median sale price of a home in Anna Maria in March 2024 was $2.8 million. Real estate data keeps changing. If you are interested in investing in Anna Maria Island, contact us to learn more!
3 Things Sellers Must Include In Their Real Estate Closing Checklist
1. Documents
Before closing, carefully examine the purchase agreement and gather your financial docs. Order title insurance and fill out those property disclosures. Plan a final walkthrough to double-check that everything is as agreed upon. These steps will help make sure everything goes smoothly. The closing usually goes down at the title company, so it’s important to be on time to sign all the necessary paperwork. Expect to put sign several important documents when it comes time to close! That can include the closing statement, deed, bill of sale, and other forms based on your situation. Having everything ready to go will make the closing process much simpler.
2. Things To Bring
Make sure you have all your materials prepared. Remember your keys, access codes, and garage door openers unless the occupancy agreement says otherwise. Bring cashier’s checks for closing costs and repair credits – they usually don’t take personal checks. Having your checkbook available for any unexpected expenses is a good idea. Remember the closing time, date, and place, and bring a government ID for verification. You might even need to show proof of repairs. Bring your final utility bills and any other docs the agent requested. Stay on top of things and get all your ducks in a row for a smooth closing.
3. Consider Closing Costs
You must consider some costs before everything’s completed. Apart from paying off your mortgage, which varies based on the sale amount, set aside 5-10% of the sale price for these costs. You should stash the extra cash in an escrow account until closing if you sell for less than you owe. The usual expenses for sellers include:
- Agent commissions
- State transfer taxes
- Loan payoff costs
- Any leftover HOA fees
- Property taxes
- Title insurance fees
- Closing fees from the title company
- Real estate attorney.
Knowing about these costs beforehand helps you prepare for a smooth closing.
Tips: Consider getting a real estate lawyer to review contracts and ensure everything’s up to par. Keep chatting with your agent for help or if you have questions.
It’s always a good idea to contact an experienced real estate agent to ensure your Real Estate closing checklist is just right. Contact Billi to get help in Anna Maria Island. Billi and her team are experts in the area!
