Close & Get Your Check

Title work is complete and all aspects of the contract have been fulfilled!

It’s time to make your sale official and collect your check! 

Before closing

REVIEW THE SETTLEMENT STATEMENT

You will receive a HUD-1 (Housing and Urban Development) ALTA (American Land Title Association) statement from your title company three days prior to closing. This summary will break out the expenses pertaining to the sale. You want to check to make sure all the calculations on the form are correct.

BUYER WILL CONDUCT A FINAL WALK-THROUGH

The buyers will conduct a final walk-through of the property. This typically occurs the day before closing and gives the buyer the opportunity to ensure any repairs have been completed, the home is in the same condition it was when they made the offer, and that your personal belongings have been removed.

GATHER IMPORTANT ITEMS FOR BUYERS

Collect any operation manuals, keys, garage door openers, neighborhood contact information and codes the buyer will need. Leave these in the home where the buyer can easily find them. 

Closing day

Closing will take place at the title company at a time pre-arranged by you, your agent and your closer. Closings occur on weekdays between 8 a.m. and 5 p.m. and take approximately 30 minutes.

If you and the buyer used the same title company, you may close together, or one after the other. But, it’s also possible for you to close at different times and through different title companies. Therefore, it is possible (and common) to never meet your buyer at all.

The title company must receive the funds from the buyer before distributing pay. Therefore, if you close before the buyer closes, you won’t receive a check at the closing table.

If you can not attend the closing in person, a long distance closing can be prearranged and conducted via FedEx in front of a notary. Or, a trusted friend can sign for you via power of attorney at the title office.

BE SURE TO BRING:

  • Driver’s license. Everyone signing needs to bring theirs too. 
  • Keys to the house. Your agent or the title company will hold the keys to your home and deliver them to the buyer when the transaction is complete.
  • Bank routing number. If you are having funds wired, you will need the account number where you wish the title company to send your profits. Alternately, you can choose to receive your funds via a check.
  • All persons listed on the deed. Every person listed on the title must sign to relinquish ownership. 

After closing

EVERYTHING IS SIGNED, WHAT’S NEXT?

  • Deposit your check, or verify with your bank that the wired funds have been received. 
  • Cancel your utilities and forward your mail, if you have not already done so.  
  • Celebrate and embark on your next great adventure.