Close of escrow
You are close. There are a few things left to take care of before the sale is done.
The buyer’s final walkthrough
Shortly before closing, usually the day before or the day of, the buyer goes through the house one more time. They are checking that everything works, that the house is in the same condition as when they last saw it, and that nothing has been left behind. It is normally a formality. Leave the house clean, and take everything with you that is not part of the sale.
Signing
In most deals here there is no single closing table. You sign at the escrow company’s office, or with a notary they send to you, usually a few days before the closing date, and the buyer signs separately. If you will be out of town, tell us as early as you can and escrow will arrange for you to sign wherever you are.
Escrow prepares a settlement statement that lists every figure in the transaction, including your mortgage payoff, the costs of selling and what is left for you. You and the buyer each sign. Go through it with us first, and ask escrow about any line you do not understand.
Your proceeds
The sale closes when the deed is recorded with the county and the funds are available, which happens after the buyer’s lender has funded the loan. You can have your proceeds wired to your bank account or take a check from escrow. If you choose a wire, give your account details to escrow directly, by phone or in person, and be suspicious of any email asking you to change them.
Utilities, keys and last-minute problems
We will give you a list of numbers for cancelling utilities and home services. Schedule them to end after closing, so the house is not dark and cold for the buyer’s walkthrough.
Have every key, garage remote, code and manual ready for the buyer. We handle the handoff, which happens once the sale has closed and the contract says possession passes.
Sometimes something goes wrong even this late. The water heater quits the week of closing, or the buyer’s loan runs a day or two behind. Call us. We have dealt with both before, and there is usually a straightforward fix.
That is the process from start to finish. If you are thinking about selling and want to talk it over, get in touch with Derek.