Congratulations!

Congrats! Before you hand over the keys…

Congratulations, you’ve accepted an offer on your property and you’re ready to close the deal. But before you hand over the keys to the new owners, there are a few things you need to know and do to ensure a smooth and successful transaction. Here are some of the most important steps and tips to follow when conducting final inspections, closing escrow, and preparing your property for the new owners.

Final Inspections

Final inspections are inspections that take place after you have accepted an offer and before you close escrow. They are usually requested by the buyer or their lender to verify that the property is in the same or better condition as when they made their offer and that any agreed-upon repairs have been completed. Final inspections can include a walk-through inspection, a home inspection, an appraisal inspection, a pest inspection, a roof inspection, or any other inspection that is required by the contract or the lender.

As a seller, you should cooperate with the final inspections and make sure your property is clean and accessible for the inspectors. Provide receipts or invoices for any repairs that you have done or agreed to do as part of the contract. Fix any issues that arise from the final inspections or negotiate with the buyer on how to resolve them. If everything goes well with the final inspections, you can proceed to close escrow.

Closing Escrow

Closing escrow is the final stage of the home selling process, where all the funds and documents are transferred between the parties and the ownership of the property is officially transferred. Closing escrow typically takes place at a recommended escrow office or a title company, where both parties sign the final paperwork and receive copies of the closing statement. The closing statement is a document that summarizes all the costs and fees involved in the transaction, such as escrow fees, title fees, transfer taxes, commissions, loan payoffs, prorated property taxes, and more. The closing statement also shows how much money each party will receive or pay at closing.

As a seller, you should review the closing statement carefully and make sure everything is accurate and in accordance with your contract. Also, bring a valid photo ID, your keys, garage door openers, and any other items that belong to the property. Be prepared to pay any outstanding balances or fees that are due at closing. Once you sign the paperwork and receive your proceeds, you have officially sold your property.

Besides closing escrow and conducting final inspections, there are some other tips that you should follow when selling your property. Here are some of them:

• Cancel or transfer your utilities, insurance, subscriptions, and other services that are associated with your property. Notify your bank, credit card companies, employer, friends, family, and other contacts of your change of address.
• Remove all your personal belongings and trash from the property. Leave behind any items that are included in the sale, such as appliances, fixtures, window treatments, manuals, warranties, etc.
• Clean and sanitize your property thoroughly. Make any minor repairs or touch-ups that can improve its appearance and functionality.
• Leave a nice note or a gift for the new owners. You can also leave them some useful information about the property or the neighborhood, such as where to find the main water shut-off valve, how to operate the sprinkler system, or what day is trash collection.
• Say goodbye to your neighbors and thank them for their friendship and support. You can also introduce them to the new owners if possible.

Selling your property can be an emotional and stressful process, but it can also be a rewarding and satisfying one. By following these steps and tips, you can ensure a smooth and successful transaction and move on to the next chapter of your life. If you have any questions or need any assistance with selling your property, feel free to contact us at Serenity Realty Guam and “Let Serenity Guide You Home.”