Selling real estate? Save time and headaches by being well prepared for your closing. Careful attention to the following details will help your real estate closing go smoothly.
Attendance: It is important that all parties attend the closing. If this is a problem, please notify us immediately. If a Power of Attorney is necessary, we can prepare it for your convenience for an additional fee that will be charged as part of your closing costs.
Closing Fee: On a standard real estate transaction, the seller will be charged a fee to cover the costs of preparing the HUD-1 Settlement Statement and disbursing the transaction.
Closing Funds: If the payoffs and expenses are greater than the purchase price and credits, it may be necessary for the seller to bring funds to the closing. The funds must be payable in an amount we will provide prior to closing. We accept cashier's checks, certified checks, and wire transfers.
Condominium 6-D Certificate: If the property is a condominium, you will need to obtain the Condominium 6-D Certificate from the condo association indicating the amount of the condo fees and assessments per month, and whether or not they are paid to date.
Deed Preparation: As the seller, you are responsible to provide the new deed, conveying your interest in the property to the buyers. As a convenience, our office can prepare the deed for a fee that you will be charged as part of your closing costs. If someone else is preparing your deed, you will need to provide us with the proposed deed at least one (1) week in advance of the closing for review. A deed review fee will be charged and deducted from your proceeds. You will also need to deliver the original deed to the closing.
Mobile Homes: If the property is a mobile home, you must contact the park owner to obtain a statement indicating the amount of the park fees per month and whether or not they are paid to date. Arrangements will need to be made for the park owner to consent to the sale by signing the new deed to the buyers.
Mortgage Payoff Information: You need to provide us with the lender names, loan numbers, and telephone numbers for all current mortgages on your property, along with copies of the latest bills. You must freeze any home equity accounts and provide written authorization for us to obtain the payoff statement(s). We need this information as soon as possible in the closing process because many lenders now require significant advance written notice for payoff information. Our office will charge a fee to obtain and track the satisfaction of each outstanding mortgage.
Occupancy Certificate: This certificate is required for newly constructed properties.
Photo Identification: Each seller must bring a valid driver's license to the closing for notary purposes.
Tax Bill: Please provide a paid tax receipt for the most recent paid bill, or send us the unpaid bill for payment at closing.
Water/Wastewater Bills: If your town or city provides municipal water or wastewater to the property, it is your responsibility to arrange for a final reading prior to the closing, and send us a final bill that will be paid at closing.