Open Escrow

With an accepted offer in place, the buyer will typically deposit earnest money into an escrow account as a sign of good faith.

Choose an escrow or title company to handle the closing process and coordinate with them to ensure all necessary documents are prepared.

Real estate lawyers play a crucial role in this phase, working alongside the escrow or title company to ensure that all legal documents are prepared and executed. They meticulously review the title commitment and address any potential issues or concerns that may arise, safeguarding the integrity of the closing process.

Complete Inspections and Appraisal

Allow the buyer to conduct inspections of the property, including a home inspection and possibly other specialized inspections. The buyer’s lender will also order an appraisal to determine the fair market value of the property. Address any issues that arise from these inspections or appraisal to keep the sale on track.

Address Contingencies

Work with the buyer to address any contingencies outlined in the sales contract.

This may include making repairs, renegotiating terms, or resolving issues identified during inspections or the appraisal process. Your real estate agent will facilitate communication and ensure that all parties are meeting their obligations.

Closing Preparations

As the closing date approaches, coordinate with the escrow or title company to ensure that all necessary documents are in order. Schedule a final walkthrough with the buyer to confirm the property’s condition and address any last-minute concerns.

Real estate lawyers play a crucial role in preparing for the closing process, including reviewing and coordinating the execution of all necessary legal documents, such as the deed, bill of sale, and closing disclosures.

They can also address any last-minute legal issues or concerns that may arise before closing.

Closing Day

Attend the closing meeting, where you’ll sign all required documents to transfer ownership of the property to the buyer. Your real estate agent and representatives from the escrow or title company will guide you through the process and ensure a smooth closing experience.

Having a real estate lawyer present at closing provides an extra layer of protection for your legal rights and interests. They will thoroughly review all documents before you sign, ensuring that everything is in accordance with state and local laws and that your best interests are always being upheld.

Their presence offers peace of mind, knowing that every aspect of the closing process is legally sound and in your favor.

Transfer Ownership

Once all documents are signed and funds are transferred, ownership of the property is officially transferred to the buyer.

Hand over keys, garage door openers, and any other relevant items to the new owner, and celebrate the successful sale of your home.

Post-Closing Tasks

After closing, cancel utilities and homeowner’s insurance for the property. Notify the post office of your change of address and forward mail to your new address.

If you have sold your house and are facing any legal concerns or uncertainties, it’s crucial to contact a real estate lawyer promptly.

They can provide expert advice and guidance to address any post-closing legal issues that may arise, ensuring that your interests are protected.

Your real estate agent remains a valuable resource, offering guidance on any remaining tasks or follow-up needed after the sale, further facilitating a smooth transition.