- If you have an FHA loan, remember
that interest is paid for the whole month, no matter when the loan is paid
off. Therefore, try to schedule the closing and the payoff to be sent to
the bank well before the last day of the month.
- Leave the utilities on until the
actual settlement and transfer of title. This tip is especially true in
the winter.
- Bring your driver's license to
closing (a picture ID is needed).
- Realize that not all closings
have to occur on the 30th or the 31st of the month.
(As mentioned earlier, if you have an FHA loan, you definitely do not want
to close on the last several days of the month as any delay could cost an
extra month's interest payment).
- Arrange with your Realtors for
the delivery of keys and possession. In addition, have a contingency plan,
in case of any delay.
- Do not expect the net proceeds
from the sale the same day as the settlement. If you need the proceeds
ASAP, then inform your attorney in advance for special arrangements to be
made.
- BE FLEXIBLE! Because of all the moving parts and complexities with a real estate closing, there may be unexpected last minute issues. If so, take a deep breath and relax. Your Realtor and settlement attorney will work out any last minute issues.
Hopefully this three part
series of Tucker's Tips will be a helpful tool to provide to a seller. The
following link is a PDF of all the tips for "Smooth
Selling."
P.S. If you have any other
ideas or comments for "Smooth Selling," please let me know. I would
love to have a 20th tip!
Contact me at 434-951-0858 or Tucker@TGBLaw.com
if you have questions.
William D. Tucker,
III
Tucker Griffin Barnes
Charlottesville, VA
434-973-7474
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