Your closing begins the day after your sales contract has been signed by both the buyer and seller. As a seller, your responsibilities are considerably lighter than those of a buyer. In order to execute the following tasks in order to achieve a smooth closing. Once again, this guide is specific to the seller.
1. Owner’s Title Insurance Policy
Be prepared to deliver a copy of it to your listing agent, and to your designated title company. This not only creates efficiencies, but also minimizes the risk of title objections. Your policy may also qualify for a re-issue credit discount!
2. Survey and Flood Elevation Certificates
If you have them, locate your property Survey and Flood Elevation Certificate and deliver it to your listing agent and to your designated title company. Become familiar with your flood elevation.
3. Condominium and Homeowner’s Association
If applicable, have Condominium and Homeowner’s Association contact
information at hand. If your property is a condominium, be prepared to order
the Declaration of Condominium, including Question and Answer Sheet,
Governance Form, Current Year End Financial Information and any recorded
Amendments. These items are required under the contract to be delivered to
your purchaser and typically carry a fee payable to the management
4. Expired or Existing Permits
As your closing and title insurance agency, we identify potential defects in your title. These defects can impede your ownership to your property, because of third party claims or liens on your title. We work with you to close any open permits on your property.
5. Mail Away and Notary Public
If any parties to the transaction are not local and accessible, notify your listing agent so that arrangements can be made in advance to properly execute documents for closing before a notary public.
6. Multiple Holders and Homestead
All parties that are on the title (deed) to the property, and those added on subsequently by quit claim deed are necessary parties to sign the listing agreement and transfer documents. Also, on homestead property, if you are married, but your spouse is a non-title holder, he or she must sign the listing agreement and the deed at closing as well.