As of right now, it only takes most American homeowners about three weeks to sell their houses. But even after they’ve sold their homes, there is still work to be done!
For example, most sellers will have to sit back and allow buyers to have home inspections done. They’ll also have to let buyers have appraisals done so that they can get approved for mortgages.
And at the end of it all, sellers will have to finish things off by going through the closing process on a house. The house closing process is the final step that’ll need to be taken before sellers are officially done with selling a home.
So, what is the process of closing on a house like? Here is how the closing on a house process works when you’re a seller.
The Final Walkthrough
At the start of the closing process on a house, you will have to give those who are buying your home a chance to walk through it one last time before purchasing it. They’ll take part in what’s called a final walkthrough to make sure the house is in the same condition it was in when they last saw it.
If they have any concerns about the condition of your home, this will be the time when they’ll want to bring them up. You might be able to skip this part of the home selling process by selling your home to a cash buyer. Visit dashbuyers.com to see how working with a cash buyer will benefit you.
The Title Search
A buyer isn’t going to want to buy your home if it has any claims or judgments that have been made against it. So when the process of closing on a house is going on, a closing agent will conduct a title search on it. It’ll reveal any issues that might exist with a home through the use of public records.
A buyer will also be required to purchase title insurance on your home prior to purchasing it. This title insurance will provide them with protection just in case any issues with your house are uncovered in the future.
At the very end of the closing process on a house, both the buyers and sellers will have to sit down and complete a bunch of paperwork. They’ll have to sign a big stack of papers to make the sale of the home official.
You should mentally prepare yourself for the home stretch of the closing process on a house. It’ll take some time to work through it, but you’ll be all finished once you’re done with the necessary paperwork.
The Closing Process on a House Shouldn’t Take Too Long
Many sellers dread the closing process on a house. They worry about what might happen if a deal falls through at the last minute.
This does happen from time to time. But as long as you take all the right steps, you shouldn’t have to be too concerned about your closing going awry.
Browse through our other blog articles for more tips on buying and selling houses.
Infographic provided by Marketplace Homes, a realtor company