Property Details:
- Property Address: [Insert Property Address]
- Seller: [Insert Seller's Name(s)]
- Buyer: [Insert Buyer's Name(s)]
- Settlement Date: [Insert Scheduled Closing Date]
Pre-Closing Tasks:
- Review Sales Contract: Review the executed sales contract and ensure all terms and conditions are understood.
- Contact Title Company: Communicate with the title company handling the transaction to provide necessary information and documentation.
- Gather Documentation:
- Deed to the property
- Title insurance policy (if applicable)
- HOA documents (if applicable)
- Mortgage payoff information (if applicable)
- Home warranty documents (if applicable)
- Property tax information
- Any other relevant documents requested by the title company or buyer's attorney.
Property Preparation:
- Repairs and Inspections: Ensure any repairs or agreed-upon inspections are completed as per the sales contract.
- Utilities: Coordinate utilities transfer or disconnect dates with the buyer and utility companies.
- Homeowners Association (HOA): Coordinate with the HOA to obtain any necessary resale documents and ensure compliance with HOA requirements.
Financial Preparation:
- Mortgage Payoff: Contact the mortgage lender to obtain the exact payoff amount and confirm procedures for loan payoff at closing.
- Property Taxes and Liens: Ensure any outstanding property taxes, liens, or judgments are addressed prior to closing.
- Closing Costs: Understand and prepare for expected closing costs, including agent commissions, transfer taxes, title fees, and other applicable expenses.
Day of Closing:
- Attend Closing: Plan to attend the scheduled closing appointment at the title company or attorney's office.
- Bring Identification: Bring a valid form of identification (e.g., driver's license, passport) to the closing.
- Sign Documents: Review and sign all necessary closing documents, including the deed, settlement statement, and other legal forms.
- Receive Funds: Ensure receipt of funds from the sale proceeds as per the terms of the sales contract.
Post-Closing:
Confirm Transfer: Verify that the property has been legally transferred to the buyer.
- Notify Service Providers: Inform service providers (e.g., insurance, utilities) of the property transfer and update contact information.
- Maintain Records: Keep copies of all closing documents and related correspondence for future reference.