Pre Closing


		Leading up to the sale. There's a lot to do between signing the purchase contract and closing day. All the terms and conditions of the contract have to be met during this time. The buyer has pre-closing duties, and you, too, will have to take care of a few things… • Title insurance. Click here to find out more about your legal responsibilities in providing the buyers with a marketable title. • Inspection. The buyer will likely order an inspection of your home, the results of which will influence their decision to purchase. Find out what your options are if problems are found. • Appraisal. The buyer's mortgage lender will require that a certified or licensed appraiser assess your home to determine the overall quality of the property and its fair market value. If your house is appraised below the sale price, the lender won't grant the loan at that price. • Clean-up. You should leave your home in "broom-clean" condition. • Final walk-through. Many buyers write in a contingency that allows them to check the house over one last time before closing to make sure nothing has been altered or broken, and all the fixtures and appliances that were included in the sale are still intact and in working order. • Stay informed! Your real estate attorney or real estate agent can help keep you in the loop about when the buyer's earnest money is deposited in an escrow account and where the buyer stands in getting their mortgage loan.