Home buying is not an easy journey. There are a lot of things that home buyers should look into and should consider. It can be, without a doubt, a stressful experience. That is why one of the most important things that home buyers are looking for in their home buying journey is a smooth closing transaction. As a realtor, for sure, you invest a lot of your time and energy into each property transaction, and for sure you don’t want the home buyers to experience hiccups especially during their closing day.
Here is a helpful checklist of the things that you have to ensure to make sure that you cover all the bases as you approach your client’s closing day:
Be sure that the seller has completed the agreed home repairs. You do not want any delays on the closing because of any unfinished repairs. If possible, ask for a copy of the paid repair receipts.
Be sure to have a complete walkthrough of the home a few days before closing. This is to ensure that the home is in the same condition as it was when the home was purchased. Aside from that, by having a complete walkthrough, you’ll be able to check if all inclusions are present and in good working order. Be sure that the buyer is present during the walkthrough, for them to personally inspect the home and the repairs done to the house.
Check if your buyer has already scheduled service or transfer of the utilities to avoid any hassle during the moving day. You can also provide them with the list of utility companies and contact information around two weeks before the closing date to ensure they will not miss out on any.
If a home warranty is a part of the contract, be sure to confirm with the closing lawyer that the home warranty order was received.
Be sure that the money transfer was completed. Be sure to check if the buyer has the correct money transfer instructions and, if possible, check if the closing lawyer’s office has received the money.
Review Closing/ Settlement Statement
Asking for a copy of the preliminary closing/settlement statement from the lender or the closing lawyer is essential. Be sure to go through the statement to ensure that everything is correct, including the money amount, commissions, home warranty, etc.
The clients must be reminded about the closing date 24-48 hours before closing. You can send reminders regarding the closing time, address for a closing lawyer or title office, parking instructions, and the things they need to bring to avoid any hassle during the closing.
All the relevant documents for the transaction should be gathered in one folder so that the buyer can have a reference for years to come. Things such as completed sales contract, closing/ settlement statement, instructions on how to file for any buyer rebates or credits, a brochure from the Home Warranty provider if there’s any, and a list of the people they can contact for things such as repair, landscaping, and cleaning.
Check-in With the Seller’s Agent
Communicate with the seller’s agent and ensure that they remove the ‘for sale’ signages and lockbox from home.
Make sure that this day becomes special for the buyer. It should be fun and stress-free as you culminate their home-buying experience. You can text them to say ‘Happy Closing Day!’ to set their mood for the day. Aside from that, you can go the extra mile and bring them gifts that they can use in their new home. Be sure to document this special day by taking pictures of them with their keys in front of their new home. Don’t forget to send them a copy.
It is important to build a good business relationship with the house buyer to close the deal you are looking to close smoothly. Sure, you will close that deal you have always wanted.