If you're a home seller and are getting ready to go to closing, there are documents that you'll need to have prepared in advance of the meeting. Here's a list of what you should have:
1. A copy of the sales contract and documentation showing that any contingencies have been removed or satisfied.
2. Documents to complete the title transfer. These usually are handled by the title insurance or abstract company and your attorney or closing officer. They may include: certificate of title, deed, correcting affidavits, quitclaim deeds, survey, and title insurance policy or binder. Be sure the closing officer has the necessary papers showing that all judgments, liens and mortgages have been removed or satisfied.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
3. Homeowners insurance policy. When the buyer plans to take over the unused portion of your hazard insurance, you'll need to make arrangements in advance so that all the paperwork will be completed on time.
4. Prorations for ongoing expenses such as insurance premiums, property taxes, accrued interest on assumed loans, and utilities (if not shut off between owners).
5. Receipts showing payment of the latest water, electric and gas bills.
6. A certificate from your lender indicating the mortgage balance and the date to which interest has been prepaid. The closing officer usually obtains these figures calculated to the day of settlement.
-
Why So Many Men are Bad at RetirementOlder men today came of age amid the social upheavals of the 1960s and ’70s, but their formative years were deeply planted in the traditional world of segregation and sexual stereotyping.
-
Hot Tips for Home Buyers and Sellers Right NowReal estate looks to be especially hopping this spring, thanks to pent-up demand and buyers adjusting to higher mortgage rates. Here’s how you can prepare.
-
Commercial Real Estate Outlook 2024: The Kiplinger LetterThe Kiplinger Letter In 2024, expect hybrid and work-from-home trends, tighter budgets, rising rents and the demand for data centers to continue.
-
Delinquent CRE Loans Are on the Rise: The Kiplinger LetterThe Kiplinger Letter Banks are expanding their efforts to restructure CRE loans to avoid losses from the commercial real estate sector.
-
As Mortgage Rates Rise, Renting Is Now Cheaper Than Buying for Many: The Kiplinger Letter
The Kiplinger Letter A jump in mortgage rates has caused housing affordability to slump and priced many first-time home buyers out of the market.
-
Rental Market Will Slow Through 2023: The Kiplinger LetterThe Kiplinger Letter Expected growth in the rental market is likely to remain slow for the rest of the year amid a slow housing market and cooling economy.
-
Selling Your Home? Set the Right Pricereal estate If you're selling your home, setting the right price is crucial. Don't overprice or you'll scare away prospective buyers.
-
WFH Impact on Commercial Real Estate Market: Kiplinger Economic ForecastsEconomic Forecasts Commercial real estate continues to struggle. Office vacancies hit 18.9% in the second quarter of 2023.
-
Greenland, U.S. Plans to Boost Tourist Economy: Kiplinger Economic ForecastsEconomic Forecasts A U.S. congressional effort could see some Canadian visitors get longer stays, meanwhile, Greenland bids to be the next vacation hotspot.
-
China’s Economy Weakened by Low House Prices and Falling Exports: Kiplinger Economic ForecastsEconomic Forecasts China’s economy lost momentum in May due in part to fewer exports and declining housing prices, but the country’s fast fashion retailers are booming.
