Close of Escrow
There are a few final tasks to complete before the close of escrow. After all the paperwork and finances are finalized be prepared for the following:
The final inspection usually takes place the day before, or on closing day. The buyer will visit the property for a final walk-through to confirm that everything is in working order. The buyer will verify that no unwanted items have been left behind, and that all items included in the purchase contract remain at the property.
You need to cancel all home services and utilities. These providers and their contact information are located on the seller’s disclosure.
Unexpected things occasionally occur late in the game. A buyer’s loan may fall through, or something may break down at your property. Don’t worry–Your Future Address agent has handled these situations before, and will step in and help solve the problem with minimal stress.
A settlement statement will be provided by the closing agent. This statement outlines the financial transactions enacted in the process and certifies accuracy. The buyer, the seller and the closing agent will sign this statement. If for some reason you cannot attend the closing, please let us know as soon as possible so that arrangements can be made in advance.
If you will be receiving any funds from the transaction, make sure you designate how you will receive your payment. Funds can be wired electronically, or a check will be issued at closing. Keys and any other important property information should be provided to the buyer at the time of closing.
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