Closing of Escrow

Closing Day

The closing date has finally arrived and the process of selling your property is almost complete. There are still a few loose ends to tie up before congratulations are in order.

Final Walk-Through Inspection

The final inspection takes place either the day before or the day of the closing. This is the buyer’s final review of the property before signing the closing documents. The purpose of the walk-through is to verify that everything is working properly and nothing has been changed or altered since the buyer’s previous visits. At this time, the buyer will also make sure that nothing has been left behind that wasn’t previously agreed upon.

Cancel Services and Utilities

All utilities and services to the property should be canceled once closing is complete This can be arranged in advance or taken care of immediately after closing. We will provide a list of useful numbers for the termination of utilities and services.

Prepare for the Unexpected

In most cases, by the time closing day arrives, everything is in place to successfully complete the sale of your property. Occasionally, an unforeseen issue can pop up at the last minute. The buyer may discover something broken during the walk-through or their financing could be delayed. Whatever the problem, there is no need to worry. We have encountered these issues before and are thoroughly equipped to handle them quickly and efficiently.

Closing

The settlement statement summarizes and details the financial transactions enacted in the process. The closing agent will provide all the parties involved with a copy of this statement. The buyer, you and the closing agent will sign the statement, certifying it’s accuracy.

Should you be unable to attend the scheduled closing, usually arrangements can be made for you to participate remotely. This will depend on the circumstances and how far in advance notice of your absence is received.

Any funds received from the transaction can be wired electronically to an account at your financial institution or be issued to you in a certified bank check at the closing. As the seller, you should arrange to have all keys and any other important property information for the new owner at closing.