Once you’ve successfully closed the deal on selling your house, there are several important steps to take to ensure a smooth transition and tie up loose ends. Here’s what to do after closing the deal:
1. Celebrate Your Sale:
- Take a moment to celebrate your successful sale. Selling a house is a significant accomplishment.
2. Keep Records:
- Organize and keep copies of all closing documents and transaction records for your records. These documents may be needed for tax purposes or future real estate transactions.
3. Notify Utility Companies:
- Contact your utility companies to arrange for final readings and disconnections of services. Ensure that all outstanding bills are settled.
4. Forward Your Mail:
- Visit your local post office or go online to update your address and set up mail forwarding to your new address. This ensures that you receive important mail during the transition.
5. Change Your Address:
- Update your address with important entities, including banks, insurance companies, credit card companies, and government agencies like the IRS and DMV.
6. Notify Your Service Providers:
- Inform service providers of your move, such as internet, cable, and phone companies. Schedule disconnects or transfers as needed.
7. Cancel Home Insurance:
- Contact your home insurance provider to cancel your policy. If you’re moving into a new home, arrange for a new insurance policy.
8. Settle Outstanding Bills:
- Ensure that all outstanding bills, including property taxes, homeowner association fees, and any other obligations related to the property, are paid in full.
9. Prepare for the Move:
- If you haven’t already, start packing and organizing for your move to your new residence. Hire a moving company or make necessary transportation arrangements.
10. Clean and Secure the Property: – Before handing over the keys to the new owner, thoroughly clean the property. Make sure all personal items are removed, and the home is in the condition specified in the sales contract.
11. Transfer Keys and Access: – Provide the new owner with keys, security codes, and any necessary access information. Ensure a smooth transition for them.
12. Close Out Accounts: – Close out any accounts associated with the property, such as a security system or lawn maintenance service.
13. Leave Manuals and Warranties: – Leave behind manuals, warranties, and any important documents related to appliances or home systems for the new owner.
14. Evaluate Tax Implications: – Consult with a tax professional to understand any tax implications of the sale and how it may impact your financial situation.
15. Keep in Touch: – If you have a good relationship with the buyer, consider leaving your contact information in case they have questions about the property after the sale.
16. Start Settling In: – Once you’ve moved into your new home, start settling in and making it your own. Unpack, set up utilities, and familiarize yourself with the new neighborhood.
17. Notify Your Network: – Inform friends, family, and important contacts of your change of address.
18. Reflect and Plan: – Take some time to reflect on your selling experience and what you’ve learned. Consider how you can apply this knowledge if you decide to buy or sell real estate in the future.
Selling your house involves more than just the closing day. By following these post-closing steps, you can ensure a smooth transition to your new home and tie up any loose ends related to the sale of your previous property.