Closing a House Sale: 5 Things Sellers Should Know

contract for the sale of a house.Home Mortgage Agreement, Real Estate Concept.symbol, wooden house

If you own a house, the chances are high that you’ll sell it and move at some point. Homeowners usually move on, on average, every seven years or so. Of course, you might stay in a home for a longer or shorter time.

There are some crucial things you’ll need to think about as a home seller. We’ll talk about some of them now.

You Should Hire a Title Company

Title companies look at the titles of houses to determine whether you can sell a property to a buyer with no issues. These companies will look at whether your home has any liens on it or whether there are any other concerns you’ll have to deal with before completing the paperwork.

A great commercial title company is one that can help you get the sale ready as quickly and efficiently as possible. You can always check on the industry reputation of one of these entities before hiring it.

You Must Get the Home Inspected

Your buyer will probably want to get the home inspected before they purchase it. They’re generally responsible for hiring the home inspector.

You can always try to tell the buyer about any issue with the property before they inspect it. They will appreciate that. For instance, if the basement tends to flood when it rains, you’ll want to give them that information.

Get Ready for a Lot of Paperwork

Transferring ownership of a house from one individual or family to another can be a lengthy and tedious process. If you’ve come to an agreement on the price and you’ve worked out any other details with the buyer, you should probably set aside a whole day to sit down with them to sign paperwork of one kind or another.

You Should Hire a Lawyer

It’s often in your best interest to have a lawyer on your side who’s an expert in property law as you go through the whole selling process. You can always try to get along without one, but sometimes, home sales can get tricky.

A skilled lawyer, particularly one from your local area, will know all about the most obscure laws pertaining to the sale of residential homes. If you’re ever unsure about any aspect of the sale process, you can ask them about it, and they can give you their expert advice.

Know About the Closing Costs

There are also closing costs associated with the sale of a house. You can talk to your lawyer about those.

Closing costs can include loan origination fees, title insurance, title search costs, deed recording fees, taxes of various kinds, and more. As the seller, you will be responsible for some of them, while the buyer will be responsible for others.

You ought to be ready to deal with all of these details if you’re preparing to sell your home. Not thinking about any of them or neglecting them means you could be at a disadvantage and end up getting blindsided by some part of the process.

Bella Duckworth

Bella Duckworth

Total posts created: 2206
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