When buyers and sellers get involved in real estate transactions, everything is captured in the contract of sale. Once you have that contract in your hand from the sale of your home, it is time to start planning for your closing day.
One of the first details you need to attend to is making sure that your new home will be ready either prior to or immediately after you have closed on your current home. The worst thing you can do is be homeless because of the timing of your closing. Your attorney will arrange for the closing date for you and let you know the date well in advance. Once you have the closing date, you need to make sure that all of your new living arrangements are in place.
Once the sales contract is signed, your real estate selling is supposed to end. But things can happen that will cause a closing date to be moved or even void the closing date completely. If the buyer cannot secure financing, then your closing date is lost.
The best way to avoid this is to only deal with buyers who are pre-approved for their mortgage. When you deal only with pre-approved buyers, then you eliminate the possibility of losing your closing date due to financing. Remember that you will have to scramble to make changes to your new living arrangements if your current home cannot be sold. Save yourself the hassles of a lost closing date by dealing only with pre-approved buyers.
After your closing date has been con- firmed and everything is ready to go, then it is time to start packing. You need to make arrangements with your movers as soon as possible to make sure that you have movers in place when the closing date arrives. As you are packing, start making arrangements to disconnect the utilities in your current home and turn on utilities in your new home. Work with your utilities companies to make sure that you get your disconnections and connections timed right so that you do not pay for something that you are not responsible for.
Closing day on your current home can be exiting. As you get ready to complete this important real estate transaction, be sure that have all of your arrangements taken care of so you can make the transition to your new home as smoothly as possible.