The seller has a lot of things on their plate before, during, and after a real estate closing. Whether the seller or the seller’s attorney is handling the home sale process, a number of steps must be taken to ensure that it is handled properly. There are specific tasks that must be completed in the time between the contract execution and the closing date. During the closing period, the seller is expected to keep the house in good condition while getting prepared to move. As such, savvy homeowners will hire a residential real estate transactions attorney to assist in the closing process. From single or multi-family homes to condominiums, having a trusted lawyer is essential, even in FSBO (for sale by owner) deals.
The following is a checklist for sellers to reference when in the process of preparing for a real estate closing:
- Provide buyer with relevant disclosures
- Order a title commitment
- Order a survey
- Get letter from any lenders who hold mortgages on the property
- Get letter from HOA stating no unpaid assessments exist
- Prepare tax proration
In addition, the seller’s attorney will need to prepare a number of closing documents prior to closing day. The following closing documents are required:
- Deed
- Affidavit of Title
- Bill of Sale
- ALTA Statement (American Land Title Association)
- Transfer Tax Forms
- Settlement Statement
As stated previously, gathering the above documentation can be stressful and time-consuming, particularly if doing it alone. Meeting with a residential real estate lawyer will help tremendously in reducing stress and, more importantly, ensuring that the closing goes smoothly. At the Law Office of Brenda Murzyn, P.C., we are here to help with home inspection, mortgage, and survey issues, loan processing, and title insurance. Most importantly, we attend all closings to guide you through the lengthy documents you are required to sign and ensure that your rights are protected. Are you looking to sell your home? Contact our office today to learn more!
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