How to Make Settlement Day a Success

Love Selling Your Home – Week 11

This is the eleventh article in the series called, Love Selling Your Home: Minimize Your Stress, Maximize Your Profit, a step-by-step guide to selling your home. This series takes you through the entire home-selling process — from finding a real estate agent to settlement day.

The big day is finally here! You are going to officially sell your home and hand over the keys to the new owners.

It’s not unusual to experience a wave of anticipation and excitement leading up to this day. But no one wants the transaction to be sidetracked by any surprises. Unfortunately, that can happen.

Do your homework now and you’ll have a successful settlement. Here’s what you need to do prior to this day, and also what to expect at your closing and what to bring with you.

Pre-Closing Tasks to Complete

• Any agreed upon repair work to the property or home should be completed by this date unless the buyer has agreed to work with their own contractor at a later day. The buyers will have their walk-through inspection just prior to the closing that day to confirm the work has been complete.
• Prepare to vacate your home on the agreed upon time with the buyer. If you and the buyers have agreed the moving will not take place on or before closing, you should negotiate a “rent-back” agreement.
• Cancel or transfer your utilities, effective the end of that date.
• Cancel your homeowner’s insurance, effective the end of that date.
• Cancel any monthly fees such as trash service, service for any alarm systems, condo fees, etc.
• Cancel any automatic payments that have to do with your home so you aren’t paying for it after you sold it!
• Contact your lender to make sure they have a forwarding address so they can forward any money left over in your tax and insurance escrow account.

What to Bring to Closing

• Bring your driver’s license or some form of government issued ID.
• Gather all keys (door, mailbox, gate, garage remotes, etc) and any other items that the buyer will need to access your home. These can no longer be in your possession. You can either leave them in your home but at least bring a key for them to access your home after closing.
• Bring your checkbook or your banks wiring insturctions. The title company can take a voided check to directly wire you the funds/proceeds from your home sale.

What to Expect at the Closing

These days, it’s rare for buyers and sellers to attend the same closing appointment. In most cases, the seller will sign their documents in advance—either in person at the settlement company a few days before closing, or remotely via a mobile notary or online platform, depending on what your settlement company offers.

Your closing appointment as the seller is usually straightforward and much quicker than the buyer’s. You’ll review and sign a small stack of documents—mainly the deed transferring ownership, a settlement statement outlining all the transaction costs, and a few affidavits or disclosures. It typically takes about 20–30 minutes.

If you’re signing in-person at the title company, your agent can attend with you. If you’re signing remotely, the title company will coordinate a notary to come to your location or attend a virtual signing (if allowed by your lender).

Once the buyer completes their side on settlement day, the title company will finalize the transaction, disburse the funds (via wire or check), and officially record the sale.

Here’s what you can expect to occur on the settlement day itself:

• The title company acts as a neutral third party to ensure all the terms of your sales contract are fulfilled and the property is legally transferred to the buyer.
• They will collect funds, pay off any outstanding mortgages, and disburse the proceeds to you—often via wire transfer (so be sure to bring or send your bank’s wiring instructions).
• If anything is still outstanding (like delivering keys or garage remotes), your agent can help coordinate those final handoffs.

Even if you won’t be sitting around the table with the buyer, it’s still important to be responsive and available in case any last-minute questions arise. Your agent and the title company will guide you through the final steps and confirm once your sale has officially closed.

Congratulations … You sold your home!

Now that you have closed, it’s time to move on to your new home and make some new memories.

This was the last article in my 11-part Love Selling Your Home series. It’s taken you step-by-step throughout the entire process. I hope you now know that selling your home doesn’t have to be stressful or chaotic. Next up is a bonus article, How to Buy and Sell at the Same Time. So many sellers are also buying a new home. Here’s how to do it successfully.