Once you and the buyer have “signed on the dotted line,” there are a few more steps leading to the closing. Here’s a reminder of what will be happening.
- Inspection Period – During this time, the buyer and/or hired inspectors will be making appointments to inspect the home. It is best if you are not present during the home inspection. Some inspectors will not enter the home if there are unaccompanied minors present. Please make sure your pets are not loose and that the inspector has access to attics, garages, etc. If the buyer finds deficiencies, they will put in writing which items they ask that you repair. This process is outlined in the purchase agreement.
- Appraisal – The lender will be ordering an appraisal. An appointment will be set for the appraiser. You may be present if you wish, during the appraisal, but you may choose to be absent as well. Again, please have your pets secured.
- Another Look – Most excited buyers want to bring friends or family through to look at the house or want to come through and measure for curtains or appliances. Please let them come back at least once. Your agent should try to police too may requests!
- Termite Inspection – In Iowa, this inspection does not need to be completed, during the original inspection period. As with the appraisal, you may either be present or not for this.
- Abstract – If your agent has not already collected this from you, please locate the abstract and get it to them. The title company will be needing this to have the title opinion prepared. Should there be any judgments or liens that pop up, we’ll need to work together to get these issues resolved.
- Deed Packet – The title company will be preparing the final group of papers, the deed packet, for the seller’s signing. We typically pre-sign this before the closing date. This way, the seller does not need to attend the actual closing with the buyer.
- Utilities – Call all the utility companies and let them know you are selling your house. Tell them the buyer will be calling to put the utilities in their name effective on the closing date or other date if so negotiated. Please DO NOT let them turn OFF the water, gas or electricity!
Feel free to call with any questions or concerns.