Ultimate Seller Process™
Step 5: Closed
Congratulations, you will soon be signing closing paperwork. Here’s what happens next.
When you have offically closed it means that both buyer and seller have signed the appropriate paperwork, the buyer (or their lender) has deposited appropriate funds to the title company’s escrow account. From there, the title company will disburse funds as outlined in the settlement statements. The title company will send an official email after all parties have signed to notify that the documents have been recorded, finances have been funded, and the contract is officially closed.
Here are some common Q&A’s:
How long will it take for the title company to notify us: Depending upon when the buyers sign and how busy the title company is will determine how long until you receive notice from Title that we are officially closed. Usually a few hours, rarely a few days. Once notification is received, we will be sure to also notify you-just to be sure. If you are receiving funds from the sale of your home, they will be delivered in the manner in which you selected and title will notify you of when the wire has been initiated or when the check is ready for pick-up.
Can signing on a Friday delay funding? The short answer is yes. If the buyer or their lender does not deliver funds to the title company in time to initiate a wire same-day, or to allow time for title to properly prepare a check, there is a chance you may need to wait until the following business day to receive funds and fully close.
Anything that I need to know for day of closing? Other than what has already been discussed, just another friendly reminder to leave the property in agreed-upon condition. Ensure any items that should stay or items that should be removed have been handled accordingly. And remember to leave the property as you would want as an excited new buyer stepping into their property for the first time. We did include a Final Details Checklist™ below in case there are any outstanding items that you still need to wrap up.
I have a leaseback on the property, so now what? We are so happy you asked! If you have gained a leaseback and are keeping possession of your home post-closing, then you must read the document below: Seller Leaseback?™.
What’s something random I should know? You will also receive a zip file from us with digital copies of all your closed file documents. Included in that list is a PDF of your settlement statement, which you will need to reference come tax season, so please be sure to retain a copy for your records.
Will I ever see you again? We hope so! The process of selling your home is an intimate process. Often homes are our most valuable asset. On top of that, we have a lot of personal memories tied to our past places. During this time we are so lucky that we have often built good relationships and sometimes life-long friendships. We would love to keep in touch. On that note, please be sure to update us of your new address so we can mail you a final custom “thank you” gift and invite you to future events!
Your Lifestyle San Diego Realtor