Phase 1: Thinking
Phase 2: Preparing
Phase 3: Marketing/PA
Phase 4: The Closing
There are a few steps that you should do to prepare for closing.
- Call utilities and schedule the ownership change for water/sewer, garbage, electricity, natural gas, cable, phone
- You should know the location of the closing. This will almost always take place at the Title Company that the buyer chose.
- Review the Closing Disclosure (CD). The CD statement is the “final bill of sale” accounting sheet that pulls together all the financials of the transaction into a 2 or 3 page summary. Make sure the bottom line $ is correct.
- Make sure to cancel your homeowners insurance.
Things to bring to closing:
- Cashiers check (or wire transfer the funds a few days before closing) for any fees that you need to cover, usually none.
- Photo ID
- Know your SSN if you do not have your SSN card