Your Home has an Accepted Offer! Now what?
Once you have an accepted offer you move to the final phase of the selling process. Our clients find it helpful to have a checklist to help make sure things are done in a timely manner and they don’t have to wonder if they have missed anything. All real estate transactions are unique. Although there is a common list of things that need to be done. Leave some space to add items that are particular to your sale.
- ___ Hire an Attorney – Your attorney will prepare and review the purchase and sales agreement, prepare the deed and be there for other things that may come up during the transaction. It is important to have your attorney very early in the process so there are no unnecessary delays.
- ___ Title V Certification You will need to provide the Title V report stating that the septic system has passed the requirements. This is required by Massachusetts state law. We recommend having the inspection done prior to putting the home on the market.
After the buyers contingencies have been met you should be working towards getting everything ready for the closing
- ___ Arrange for a mover There are times when getting a mover is difficult. Arrange the mover as soon as possible.
- ___ Make sure any outstanding obligations are completed If applicable make sure receipts are obtained.
- ___ Insurance – Inform your insurance company that you are selling your home and give them the closing date.
- ___ Liens and Encumbrances – Have all your account numbers and be prepared to give information to the conveying attorney so that any outstanding mortgages, liens or encumbrances can be discharged.
- ___ Smoke and Carbon Monoxide Detector Certificates – Contact the fire department to determine what kind and where the detectors need to be placed. Install or have them installed and then arrange for the fire department to come inspect and provide a certificate. There will be a fee for this. It is required by Massachusetts state law. You need to have the original certificate at the closing. The certificate is only good for 30 days.
- ___ Electric & Gas Call to make arrangements to have the final readings. Give them the closing date and the buyer’s names. The buyer’s will also call to make arrangements to continue the service in their names.
- ___ Oil Call the oil company to have them take a reading of what oil is left in the tank and provide a bill. This should be provided to the closing attorney for credit. Make sure to cancel service from the oil company. The buyers can arrange to continue service. (If applicable)
- ___ Water & Sewer A few days before closing a water reading needs to be taken so a final bill can be provided to the closing attorney. The new owner’s name needs to be provided.
- ___ Final Expenses A few days before closing contact the closing attorney to find out your final and closing expenses.
- ___ Cable, Internet, Telephone, Security (If applicable) Notify companies to end or transfer service.
- ___ Condominiums – Obtain a 6D certificate from the condo association which should state there are no outstanding condo fees or other charges.
- ___ Rental Property – Provide all existing leases, security deposits, prepaid rents and any other information that needs to go to the new owner.
- ___ Change of Address – Provide new address to the post office, driver’s license, creditors, employer, insurance companies, and subscriptions
- ___ Prepare for the final walk-through The walk-through usually takes place the day before or day of the closing. You need to be completely moved out and the property need to be cleaned and in the condition agreed upon.
- ___ Bring to the closing Identification, house keys, garage door openers, smoke detector certificate.
For assistance with the sale or purchase of your property contact John & Cindy Farrell 978-468-9576.
