Closing is a vastly different experience for homebuyers and home sellers. For buyers, it’s just the beginning: a new start. For sellers, it’s the culmination of a lot of work. Selling a house involves many steps, such as prepping and staging the house, showing it, and negotiating the deal. Closing signifies the end: a time to cash the check and move on. Buyers must bring a passel of documents and a cashier’s check to closing. They’ll sign numerous documents. Unless you live in a state requiring an attorney to be present at closing, closing documents for sellers are minimal; there’s less to sign. In this post, we’ll show you what to bring and what you’ll need to sign to close the deal. What happens on closing day for the seller? Closing – also known as settlement – officially transfers property ownership from the seller to the buyer. It typically occurs about four to six weeks after signing the purchase agreement. But even before you get to closing, the seller has a few tasks to complete, such as making agreed-on repairs to the property and producing a title search indicating the title is unencumbered. On the designated day, all parties meet at a neutral location, such as a title company, escrow company, or mortgage lender. Although the buyer and buyer’s agent are required to attend, the seller may not have to if the listing agent prepared the deed and transfer documents for the seller’s signature ahead of time. It can also be arranged for a seller to sign remotely. “The seller doesn’t need to be there,” says Tracy van Ravensway, a top-performing real estate agent in Phoenix with 22 years of experience. In Arizona, for example, a title company or notary would have the seller sign closing documents 1-2 days prior to closing. Final documents can be signed remotely and overnighted after being notarized. A title company representative or loan officer may officiate the closing. Real estate attorneys may accompany the buyer and/or the seller – and in some states, are required to attend closing – but, as van Ravensway emphasizes, only the seller or someone granted power of attorney can sign closing documents. Closing signifies the transfer of ownership of real property. Once the paperwork has been signed, the seller no longer owns the house. Therefore, all accouterments that go with the house need to be surrendered to the buyer. Sellers should think like Boy Scouts and always be prepared by bringing everything necessary to closing. What to bring to closing: Unless there’s an occupancy agreement in the contract allowing the seller to move out after closing, the seller should bring all keys (front door, back door, garage, storage shed, etc.), passcodes for gates and garage doors, remotes for smart devices controlling house systems, and access information for thermostats, appliances, doorbells, and smart locks. The seller doesn’t have a lot of expenses at closing but will have to pay the real estate agent’s commission, transfer tax, and possibly credits for repairs, closing costs, or other agreed-upon items. A personal check is generally not accepted for these fees. In case of any unexpected incidentals or incorrectly calculated costs, it’s easier to write a personal check to make up the difference than to have to get another cashier’s check. “I always advise my clients to bring a checkbook in case there are incidentals that need to be covered,” says Marine Yoo, a top-performing agent in Madison, Wisconsin, who works with over 81% more single-family homes than the average agent in his market. “Maybe there was a meter that was read incorrectly, so it’s just a small amount that needs to be adjusted.” Use that Boy Scout motto of being prepared by plugging the appointment information into your phone or scribbling down a reminder note. Set an alarm. Confirm the date with your agent. Do what works for you to ensure you show up on time at the right place. You’ll need a photo ID issued by the government to prove your identity. A driver’s license, passport, military ID, or state ID card are all acceptable forms of identification. To be safe, it’s also wise to bring a second form of identification, such as a social security card or credit card. Van Ravensway says your identification may be the only thing the seller absolutely needs to bring – at least in Arizona. “All the other things are usually left in the house or collected by the agent. It’s done out of title, off to the side.” This is a little tongue-in-cheek, but you will have plenty to sign. “Just come with your writing hand because you’ll be signing a few documents,” Yoo says. If the seller agreed to make specific repairs as part of the sale, it’s important to document that the work was done. Depending on the agreement made regarding whose responsibility it is to pay the final utility bills, the seller may need to bring them to closing. There could be additional documents your agent will want to hand over, such as proof of home warranty or your last property tax statement.What can home sellers expect on closing day?
What do sellers need to bring to closing?
1. Keys, codes, and garage door openers to the house
2. Cashier’s checks for closing costs and repair credits
3. Personal checkbook
4. Time, date, and location of the closing
5. Government-issued identification
6. Your writing hand (and maybe your lucky pen)
7. Proof of repairs
8 Final utility bills
9. Anything else your agent asks you to bring
