Closing the Deal: The Closing Checklist for Sellers

Moving On

Before your physical move can take place, there is a closing period that gives you and the buyer time to wrap up all the loose ends.  This time is also valuable in terms of getting emotionally ready to leave behind a home you may have many happy memories in.  Remember, you decided to move for a reason – and whether you are buying your next home in the Calgary area, planning on renting for a while, relocating out of town for work, moving in with a spouse or other relative…the future is friendly.  The best way to stay positive is a good plan to move forward.  Rest assured that we will guide you through every step of the closing and moving process.

Moving part 2 by Katie Tegtmeyer
Moving part 2 by Katie Tegtmeyer

During the closing period, the Calgary Real Estate™ team will assist you with the following:

  1. Hiring a lawyer who will take on a long list of duties in the process of transferring your property to the buyer, including reviewing the offer, preparing the Deed and all sale documentation, liaising with the buyer's lawyer, requesting the mortgage discharge, exchanging the documents and monies upon closing, and much more
  2. Documentation collected from you and sent to your lawyer plus any other relevant parties.  Your lawyer will need a fully executed copy of the Residential Real Estate Purchase Contract , the MLS listing, a copy of the Transfer/Deed to your home, details of any existing mortgages, the current year's property tax bills, a copy of the sketch or survey for your property if available, and other documentation upon request
  3. Liaising with the buyer who may have specified access visits to your home prior to closing, to take measurements and familiarize themselves with the home
  4. Purchasing your new home timed in such a way that you can avoid bridge financing or temporary housing, and simply move right in when your current home closes
  5. Assistance with moving preparations if needed – including recommendations for trusted movers, locksmiths, cleaners, and trades people to renovate your new home

Costs Involved in Selling

Apart from the cost of any repairs or upgrades you made to your home to attract potential buyers before your house went to market, there are also costs involved in closing the sale.  Being aware of the existence of these costs can prevent any surprises later!  Your lawyer will prepare a detailed breakdown of any of the costs below that are not evident, so you know exactly what you owe upon closing.

  • If a professional home inspection is a condition of the offer, and the inspection points to problems, your buyer may ask that you make the necessary repairs before closing
  • Lawyers' fees
  • Unpaid taxes up to the closing date
  • Mortgage discharge fees
  • Real estate commissions as per the listing agreement, to compensate your Realtor® for all the marketing, legwork and professional advice, as well as commission to the buyer's real estate agent
  • Utility adjustments if not prepaid past closing date
  • Moving costs

Leave a Reply

Your email address will not be published. Required fields are marked *