Selling Step 5

Step 5 - Closing the Sale

You have a signed Agreement of Purchase and Sale, but there are a few more things to consider:

Hire a real estate lawyer – a lawyer who understands real estate law will assist you in closing the sale of your home.  It is good to sit down with your lawyer to review all legal fees and closing costs. Your lawyer will have you sign property transfer and mortgage discharge papers and finally to hand over a complete set of keys and openers for your home.  These are passed to buyer’s lawyer upon successful closing.

Closing costs - there will be closing costs associated with your sale that will need to be paid on or by your closing day.  These can include mortgage application fees, inspections, legal fees, property tax adjustments, insurance, registration and more.

Keep your home in good repair – make sure your home stays the same as when you accepted the offer.  Take care that items included in the sale are not broken.  The buyer will likely have pre-closing visits right up to just before closing.

Leave original fixtures – It is expected that fixtures present before the sale remain with the home, unless they were “excluded” in your Agreement of Purchase and Sale.  This includes: light covers, cabinet hardware, floor vent covers, etc.

Cancel utilities and home insurance – contact service providers well in advance to advise you are moving.  They will ask you for the date of the move and the names of the buyers.

Prepare for your move – Moving provides a wonderful opportunity to review and streamline accumulated items.  It provides for a fresh start.  You can find things that have been lost, donate or dispose of things no longer needed and organize and group for easier unpacking.  Use Martina’s Moving checklist.   It’s important to stay organized and there’s much to think about.  From arranging for movers and moving supplies, to sorting and packing, to cancelling and setting up new services.  A checklist ensures you don’t miss anything. A stress free move starts minimum 4 – 6 weeks before moving day.