Note: This is part of our series on credit card rewards traps. Check the end of this article for links to more pitfalls.
Welcome to the last part of our Real Estate Agent hacking sharing! Let’s get to it!
Stage 4: Closing Time – Dotting I’s and Crossing T’s
Smell that? That’s the sweet scent of a closing day coming up. The finish line is in sight! But whether you’re the buyer or the seller, there are still a few clever moves to ensure a smooth closing and transition. This stage is part victory lap, part paperwork marathon. Here’s how to wrap it up like a pro (with a bit of humor to keep you sane):
For Sellers: The Final Steps and a Graceful Exit
- Don’t Pack the Vacuum Just Yet: Before you hand over the keys, make sure to tidy up one last time. There’s a tradition in real estate: leave your home broom-clean (or better). You’ve made it through negotiations, inspections, and all that jazz – don’t sour the deal at the end by leaving junk in the attic or a fridge full of old condiments. A little effort here is like a parting gift to your buyer. I always tell sellers: if you’d be upset finding it in your new home, don’t leave it in your old one.
- Final Walk-Through Prep: Typically, the buyer will do a final walk-through of the house within 24 hours before closing. This is their chance to verify everything’s in order. To avoid any last-minute drama, ensure you’ve made any agreed-upon repairs and that nothing that was supposed to stay (appliances, fixtures) has gone missing. I’ve seen walk-throughs go awry because a seller swapped a high-end fridge for a cheap one at the last minute – cue the angry phone calls. Don’t be that seller. If it was in the contract to remain, let it remain. Better yet, leave the manuals and maybe a little note about any quirks (like “hold the toilet handle down for 3 extra seconds to flush”) – buyers appreciate that.
- Get Your Paperwork Ducks in a Row: You’ll be signing the deed transfer and a stack of other documents at closing. Have your ID ready, and know how you’ll receive your sale proceeds. Wire transfer or check? Sort that out with the title company or attorney beforehand. Fun fact: on closing day, a seller’s signing is much easier than a buyer’s – you’ll scribble your name maybe a dozen times versus the buyer’s marathon of signatures. One of my seller clients once joked they felt left out of the paperwork party. If that’s you, just smile and know that your heavy lifting was getting the house sold; now you get to collect your check and do a happy dance.
- Key Handover and Good Karma: Gather all the keys, garage remotes, gate fobs, etc., and put them in a nice envelope for the buyer. Some sellers like to leave a little welcome note or a list of favorite local restaurants for the buyer – purely optional, but it’s a classy touch. And who knows, you might run into the new owners around town – better to have parted on good terms. Plus, good real estate karma is a thing, I’m sure of it.
- No Surprises, Please: Lastly, double-check that you haven’t inadvertently sabotaged the deal at the finish line. Did you schedule the utilities to be turned off the day after closing (not before)? Did you cancel your homeowners insurance effective after closing? These little administrative details matter. I once saw a seller cancel insurance too early, and of course a freak storm caused minor damage the day before closing – not fun. So tie up those loose ends with dates aligned to closing after the ink is dry.
For Buyers: Closing Day and Beyond – Welcome Home!
- Review, Review, Review: A few days before closing, you’ll get a Closing Disclosure or settlement statement outlining all the dollars and cents. Take the time to read it (yes, all those numbers). Compare it to your loan estimate if you have one, and ask about any differences you don’t understand. It’s much easier to address surprises before you’re in the signing room. I’ve had buyers catch mistakes (like an unexpected fee) at the last minute – it can be fixed, but it might delay closing. Better to spot it early.
- Final Walk-Through – Be Thorough: This is your last chance to check the house. Bring your inspection report to verify any agreed repairs were done. Test all appliances, run the faucets, flush toilets, and yes, turn on the dryer to make sure it works. Make sure the home is in the condition you expect. If you find an issue now, alert your agent immediately. Minor things can often be resolved with a credit or agreement to fix later, but major issues might require postponing closing. Hopefully, everything is fine and you can proceed with confidence.
- Signing Time – Limber Up Your Writing Hand: At closing, prepare to sign your name so many times you’ll feel like a celebrity at a Comic-Con autograph session. From the mortgage note to various affidavits, it’s paper after paper. Take your time, and don’t be shy about asking, “What is this one for?” – the closing agent or attorney is there to explain. It’s mostly standard stuff, but you deserve to understand what you’re signing. Pro tip: bring your favorite pen if you like; it’s a momentous occasion, so enjoy it!
- Secure the Dough: By now, you’ve probably wired your down payment and closing costs to the title company (if not, you’ll bring a cashier’s check to closing). When wiring money, always double-check the instructions by calling the title office on a verified number – wire fraud is a real party-pooper. The last thing you want is your life savings disappearing into the ether because of a typo in an email. So verify those details, then send your funds with confidence.
- Celebrate (But Change the Locks): Congratulations, you did it! You own a home! Take the obligatory key-in-hand selfie and celebrate however you see fit (champagne on the kitchen floor picnic, anyone?). One final tip: even though you have the keys, you never truly know who else might have a copy from the past – so consider getting the locks rekeyed soon. It’s not about distrusting the sweet old sellers; it’s about that handyman or neighbor who might still have a spare. New locks (or a fancy smart lock) will give you peace of mind as you settle in. Now exhale, you’re at the end of this journey and at the start of a new adventure – welcome home!