So you’ve sold your home! Maybe you’ve already purchased a new home from trusted Phoenix home builders or builders in your preferred state, but what do you do now? Here are some steps to make sure you’ve covered as you head off to sign the paperwork at your closing.
1. Take Utilities and Other Services Out of Your Name
To avoid a costly dispute after closing, contact every service and utility provider to transfer or end service by the closing date. This includes things like water, sewer, gas, electricity, land phone lines, cable, internet, lawn care and home security. Make sure you contact your home insurance agent to switch coverage to your new home and see if you are entitled to any premium reimbursements.
2. Send Out Your Forwarding Address
This is something you should do prior to closing and that is giving your local post office your mail forwarding information. Be sure to notify any magazine subscriptions, credit card companies, bank accounts, friends and family of your new address.
3. Manage Your Movers
Get an estimate on your moving expenses and scrutinize them. If you are charged by weight, note the weight of your load and make sure the movers do not use excessive things to boost the weight like padding. Check y our insurance to make sure you and your property is covered during your move. Typically a moving company only provides coverage for what they personally pack.
4. Figure Out The Math
People are only human and anyone can make a mistake. Before the day of your closing, look at your settlement statement and make sure it is all correct.
5. Review All Charges On The Settlement Statement
Make sure any extras that your agent promised you are included in the settlement statement, like discounted commissions. Are any other mortgages getting paid off and at the correct amounts? Are all mortgages being paid off, and are the payoff amounts correct? Be wary of someone tell you that they are leaving something agreed upon off the settlement statement and consult a lawyer to see if that leaves you at risk.
6. Seek Out Any Missing Credits
You will want to make sure your settlement company credited you for any prepaid expenses correctly, like HOA fees or property. If your property taxes are paid up for the whole year, you would be entitled to a credit for the part of the year that you are no longer owner of the home. Make sure you get credits for things like built in propane tanks and heating oil that are left.
7. Avoid Leaving Any Money In Escrow
Don’t leave anything unresolved when you finish your home sale closing. Ensure that your title company has discharged any money held in escrow for you. Do not leave any sales proceeds in a new escrow that could be disputed over later on.