Jun 7, 2013

Tip 19-2013: Smooth Selling (Part 2)

Continuing with our theme of "Smooth Selling," Tucker's Tips advises that all Sellers:  

7.  Make sure that the contract and all addendums are legible. Your Realtor will provide the settlement attorney with the signed contract and all the addendums. 

8.  Understand that your Realtor will order well, septic, and termite inspections if required

A.  Order tests within 30 days of settlement

B.  VA & FHA loans require lead, nitrites, and nitrates water test, which may take longer 

9.  Be sure that the Homeowner's Association package is delivered to the Purchaser as early as possible. (The HOA three day rescission period is an easy way for the Purchaser to terminate the contract). 

 10.  If you have fuel oil (propane) on your property, it is going to be sold to the Purchaser. Accordingly, be sure to that an accurate reading and the bill are delivered to all necessary parties well in advance of closing. 

11.  Do not cancel your homeowner's insurance until after the closing is completed and the deed is recorded. (When cancelling the insurance, back date it to the closing date). 

12.  Pay any mortgage payments due the month of closing as early in the month as possible. This way, the payoff statement will reflect the correct last payment. (Remember most mortgage payments are late after the 15th of the month). 

Stay tuned for next week and the last set of tips to "Smooth Selling." 

Contact me at 434-951-0858 or Tucker@TGBLaw.com if you have questions, or visit our blog below for previous tips.  Thank you for allowing us to send you this email.     

William D. Tucker, III   
Tucker Griffin Barnes
Charlottesville, VA

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