If you have never before sold a home in California, then you likely have many questions about the process. At Berkshire Hathaway HomeServices we are the real estate experts you need to walk you through the process. Today we will be discussing what you should expect at your closing. If you need help selling or buying a home, you can reach us at (310) 373-0021.
The Seller Does Not Always Have to Attend the Closing
One of the most important things you should know is that while the buyer is always required to attend the closing, this is not true for the seller. They may have to be there to sign documents or they may be able to pre-sign the deed and additional documents. It is also possible to give an attorney Power of Attorney so they can sign on your behalf.
The funds from the sale can then be wired to your bank or your new home purchase escrow. You will find that some situations require you to be there and others don’t. You may find that you are not required to be there but you would prefer to sign in person. However, skipping the closing can be easier for some – especially if they have reason to believe the buyer is unhappy with any terms of the sale.
What to Expect After the Closing
The end of the closing happens when the person in escrow pays off the lender and any other lien holders on the property. They will then pay the proceeds of the sales to you. The Deed and the mortgage for the buyer are sent off for recording with the country recorder. All other transfer documents are given to the buyer.
Once the closing is over, you are not the legal owner of the property. Unless there is something in the sales agreement that says otherwise, you will need to give the buyer all keys, the garage door opener, and any other similar device that controls the home or its appliances. You should be completely moved out of the house before the closing. It should be left as clean as possible.
If you stay past the date of closing, you can potentially be legally evicted by the seller. If you do not clean the home well enough then you can be sued for breach of contract with the seller. If there is some reason that you don’t think you can be out by the date of closing, you should talk to your agent so you can negotiate a post-closing possessional agreement. This should be done as soon as possible.
Every closing is different but at Berkshire Hathaway HomeServices we have been through hundreds of them. We are here to walk you through the process and ensure you are ready. Call us at (310) 373-0021 if you are in need of a buyer’s agent.