Step 8
Close the deal. "Closing"
refers to the meeting where ownership of the property is legally transferred to
the buyer. In the state of Utah closing has two meaning. The first meaning is
actually settlement. Settlement is the point when you sign the documents. It is
mandated by state law that your agent, or your agent’s brokerage be present
during the settlement to guide you through the process and make sure everything
goes as planned. By being present during the settlement, he or she can mediate
any last-minute issues that may arise. In some states, an attorney is required
and you may wish to have one present. In the State of Utah the real estate
purchase contract says that the ownership of the property must transfer within
4 days after “closing” which really means settlement. Actual closing is when
the transaction funds and records. Generally this happens one day after
documents have been signed. Unless agreed upon in the purchase contract, will
the seller need to be moved out and the buyer can officially move in. After the closing, you should make a "to
do" list for turning the property over to the new owners. Here is a
checklist to get you started. * Cancel electricity, gas, lawn care, cable and
other routine services. * If the new owner is retaining any of the services,
change the name on the account. * Gather owner's manuals and warranties for all
conveying appliances.
If
you have any questions please call, text or email
Kitty
Berry
801-550-4640
yourSLChomes@gmail.com
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