INSPECT YOUR OWN HOME -
You are about to have many people look at your house. Go through it as if you
were them. What stands out as needing fixing, cleaning or re-painting? Why not
attend to it now? Your home will show better and probably sell faster and for
more money if it appears to have been properly maintained. A few hundred
dollars and a little elbow grease may pay big dividends at your closing.
SELECT A REAL ESTATE
BROKER -. The eternal question is "Do I need a real estate broker?".
The simple answer is usually YES. Of course it is possible to sell a house by
yourself but a good broker knows the market in your area and can generally
make sure you get top dollar for your house. Asking neighbors or friends won't
always give you the right answer. Brokers have access to far more buyers than
a homeowner can, even with an ad in the newspaper or on the internet. Brokers
also screen the potential buyers who will come to your home. They know who
they are, where they work and where they live. There is less of a chance the
wrong people will be given access to your home.
Your existing deed, title insurance policy, survey, Certificates of Occupancy
and/or Completion and other papers containing your property's legal
description can be helpful in your transaction. Get them ready now. Someone
will be asking you for them to your attorney as soon as possible.
OPTIONS - Possession of
the house should be given to the Buyers at the time of closing if at all
possible. The possession date is normally stated in the sale contract. You can
usually get five days and sometimes longer to remain in your home following
the closing. You'll pay the taxes and your buyers' daily interest on their
mortgage (if any) and an escrow will be held to insure your timely departure
with everything as agreed in the contract. Even if the agreement allows
you to stay in the house after closing, it is nearly always best to be out by
the time you reach the closing table. This can reduce the risk of a dispute
MORTGAGE PAYOFF -
Your mortgage(s) must, ordinarily, be paid off at the time of closing. Call
your attorney's office with the name, address and telephone number of your
mortgage lender, as well as your loan account number.
The Buyers will have a final inspection of the house
before closing. The home should be in the same condition it was in on the date
of the contract, with the exception of ordinary wear and tear, unless your
contract provides that repairs were required. If you were to repair or replace
anything, it should be done by the final inspection.
- As soon as a closing date is set, you should notify the telephone
company about the change in your service, and notify all utilities of the
closing date. These include electricity, gas, water and sewer, cable TV, fuel
oil and trash disposal. Get a reading taken of your fuel a day or so before
the closing. You will probably be reimbursed for what remains in the tan and
you'll need proof to get paid.
CANCEL INSURANCE -
It will be necessary to keep your homeowners' insurance in effect until the
sale is closed and you actually give possession to the Buyers. Be sure to
notify all your insurance carriers of your new address (they may owe you a
refund of the unused portion of your insurance premium).
- You'd be surprised how long it takes to get everything ready for your move.
Start now with the things you won't be needing until you get to the new house.
Label everything carefully. Fourteen boxes labeled "Miscellaneous" won't be a
big help when you're wondering which box contains all the extra toilet paper.
The more organized your packing is the easier it will be to settle into your
666 Old Country Road.
Garden City, NY