5 Seller Tips for a Timely Home Closing

 



Selling your home is a significant milestone, but navigating the closing process can sometimes be daunting. However, with the right knowledge and preparation, you can ensure a smooth and timely closing experience. Here are five essential tips to help sellers streamline their closing process:

Tip 1: Prepare the Deed

As the seller, it's your responsibility to prepare the new deed for the property sale. Typically, you'll enlist the help of a title company or an attorney to assist with this task, which here in New Hampshire usually costs between $150 to $300. Keep in mind that both you and your spouse (if applicable) will need to sign the deed, even if your spouse is not listed on the title. If the property is a homestead, your spouse must release their homestead rights. It's important to note that a Power of Attorney (POA) cannot sign the deed on your behalf.

Tip 2: Flexibility with the Closing Date

The closing date can sometimes feel like a moving target due to various factors involved in a real estate transaction. When negotiating the contract, discuss a closing date that works for both you and the buyer. Keep in mind that most closing documents will require your in-person signature in front of a notary. If you're unable to attend the closing, work with your settlement agent and explore options such as mail-away or Remote Online Notarization (RON) closings, or consider using a Power of Attorney (POA). However, ensure you inform your real estate agent and settlement agent promptly if you plan to use a POA, as it requires approval and preparation time.

Tip 3: Settle Payoffs

Before closing, ensure that all outstanding financial obligations related to the property are going to be paid off properly. This includes mortgages, home equity lines of credit, liens, and judgments. Your settlement agent will need detailed information to order the payoff of your mortgage, so provide them with your loan number and payment address to facilitate this process. Looking for more information on Mortgage Payoffs read: Mystery behind Payoff Figures

Tip 4: Buyer Protection (Home Warranty)

Are you planning to provide a Home Warranty to potential buyers? If you're offering a home warranty to the buyer as part of the sale, make sure to provide this information to your settlement agent. They will ensure that the necessary fees associated with the home warranty are collected at closing.

Tip 5: Required Documentation

You will need a valid Photo ID at closing. Also, your settlement agent is required to report the sale of your property to the IRS and remit NH transfer stamps to the NH Department of Revenue when recording the deed. To facilitate this, provide your social security number and any other required documentation promptly. 

By following these five seller tips, you can help ensure a timely and hassle-free closing process for your home sale. Remember to communicate with your real estate agent and settlement agent throughout the process to address any concerns or questions promptly. With proper preparation and cooperation, you'll be one step closer to successfully closing the sale of your home.


  info@brokerstitlenh.com | www.brokerstitlenh.com | 603-434-1414

Comments

Post a Comment

Popular posts from this blog

A Guide to Closing on Real Estate in New Hampshire

Image
  "Welcome to the Home Stretch: Your Closing Journey Begins" Are you planning to buy or sell a home in the picturesque state of New Hampshire? Congratulations on taking this exciting step in your real estate journey! Whether you're a first-time homebuyer or a seasoned seller, navigating the closing process can seem daunting. However, with the right guidance, you can handle it with ease. This comprehensive guide will provide you with all the essential information you need to close on real estate in the Granite State successfully. Selecting a Settlement Agent Once you have your signed contract in hand, it's time to choose a settlement agent. In New Hampshire, this can be either a Title Company or an Attorney. Typically, the buyer is responsible for hiring the settlement agent. Choosing the Right Title Company or Attorney Selecting a reputable title company or attorney is crucial for a smooth closing. Here are some factors to consider: Reputation: Choos...
Read more

Navigating New Hampshire's Unique Tax Landscape: A Guide to Tax Bills and Prorations

Image
  Introduction: As we embrace the arrival of December, not only does the holiday season beckon, but so do New Hampshire's tax bills. It's that time of the year again, and in the Granite State, we like to infuse a touch of excitement into our tax season, making it a tad confusing for sellers and buyers alike. In this blog post, we aim to demystify the intricacies of New Hampshire's tax periods and prorations, shedding light on a subject that often causes confusion at the closing table. Understanding Tax Periods in the Granite State: In New Hampshire, property taxes follow a semi-annual schedule in most areas, with a few exceptions like Concord, New London, and Claremont, where they are billed quarterly. For the majority, the semi-annual tax bills are issued in July and December. Let's break down how these bills work: Six-Month Coverage: Each bill covers a six-month period, encompassing three months in arrears and three months in advance. With the December tax bill (and ...
Read more

Understanding New Hampshire's Transfer on Death Deeds (TODD): What You Need to Know

Image
  Effective July 1, New Hampshire has adopted the Uniform Real Property Transfer on Death Act  (RSA 563-D).   RSA 563-D authorizes the use of Transfer of Death Deeds (TODD) in New Hampshire , bringing significant changes to property inheritance procedures. Here’s what you need to know about TODDs: What is a TODD? A Transfer on Death Deed (TODD) is a legal instrument that allows real property to transfer to designated beneficiaries upon the death of the property owner (grantor). Key Features of TODDs: Non-Testamentary: TODD assets bypass probate proceedings, streamlining the transfer process. Exempt from Transfer Taxes: There are no transfer taxes applied to TODD transfers. Key Requirements: Recording: The TODD must be recorded with the county registry of deeds before the grantor’s death. Timing: It must be recorded at least 60 days after signing to ensure validity. Property Description: A complete and accurate property description is required. No Notice Required: U...
Read more