Before you can move and start a new chapter, closing on your home is the last step to the selling process. Money and documents are exchanged to transfer ownership of the property from the seller to the buyer. To understand your role in this part of the real estate transaction, learn more below.

What Does the Closing Process Entail for Sellers? 

2. Present a Cashier’s Check

If issues were unearthed during the home inspection, you might have negotiated with the buyer to provide the funds so they can arrange for repairs. You may have also offered to cover a portion of closing costs.

This money is due on the closing date. You’ll need to give the buyer a cashier’s check, as personal checks might not be accepted due to the large sum of money. 

2. Transfer Keys & Other Items to the New Owner

To finalize the real estate transaction, you’ll meet with the buyer at the office of the closing attorney or escrow agent. When you transfer ownership of the property, you forfeit the right to keep access codes, keys, garage door openers, and any other items used to get inside the house. Gather these objects and relevant information to hand over to the buyer at the meeting.

3. Review & Sign Closing Documents

At the meeting, you’ll be expected to sign several documents, including the closing statement. This paperwork outlines how much money is owed on the closing day. During this meeting, the new deed, as well as the bill of sale for anything left inside the house for the new owner, will also be reviewed.

By signing the affidavit of title, you acknowledge that you are the only person with the right to sell the property. You can expect to sign your legal name on about 50 pages of documentation.

Selling a house can be a complex process, which is why you should trust the team at Bernardini Law P.C. to help you navigate your next real estate transaction. Based in North Andover, MA, this attorney has been helping clients in Essex County and the surrounding areas review purchase and sale agreements and close on real estate deals since 2011. Learn more online and call (978) 794-5525 to discuss how she can assist with your real estate transaction.