Buying or selling a house is one of the biggest life events people experience, and the closing process can be intimidating to say the least. Closing day, also known as “settlement” is when the buyers and sellers sign the loan, deed, insurance, and LOTS of other paperwork to formalize the home sale and the buyer becomes the legal owner of the home. You can make it less confusing and stressful by knowing what to expect before you get there. Here are 10 things that Orlando home sellers should know about closing day to ensure the process runs as smoothly as possible.

  1. Check off your pre-closing list: Your Dynasty Title team will make sure that all of the boxes have been checked to complete your home sale. This includes getting a property appraisal, transferring HOA paperwork, and completing tax forms. You’ll also want to make sure that you have transferred utilities to the buyer and completed your change of address paperwork with the U.S. Postal Service.
  2. Final Walk-Through: In most sales contracts, buyers have the right to physically view the home they are purchasing one last time before closing. During the final walk-through, the buyers have the opportunity to check that any repairs requested in the home inspection have been completed. They are also able to check that the property is in good condition and that all conveyed appliances are functioning properly. As a seller, you’ll want to have all of your things fully moved out and the house should be pristinely clean.
  3. Cover all contingencies: Buyers need to be sure that the home and pest inspections are satisfactory and that any needed repairs have been made. Sellers are responsible for disclosed any known issues with the home completing any agreed-upon repairs from the home inspection.
  4. Review closing disclosures: This official document outlines your exact mortgage payoff and your closing costs. You will want to review this in detail prior to closing and discuss any questions or concerns with your real estate agent and the title company before signing.
  5. Where closing takes place: Depending on your lender, closing will take place either at Dynasty Title or at your home or place of business. Your Dynasty Title processor will let you know where you need to be and when to be there ahead of time.
  6. What to bring: You will need your driver’s license; house keys, garage remotes, mailbox keys, invoices for any unpaid taxes, utilities, or assessments; receipts for paid taxes and assessments; proof of satisfaction of any liens, mortgages, judgments, or other loans that were paid prior to the closing;  your address information so the settlement team can send you the proceeds of the sale, and a cashier’s or certified check if you need funds to settle anything.
  7. Who will be in attendance: Depending on local and mortgage lender requirements, the people at your closing will include the buyer, the escrow/closing agent, a title company representative, the mortgage lender, and the real estate agents.
  8. Closing costs: Closing costs are the fees third parties charge when people complete their home purchases; these usually include real estate commissions, home inspection fees, premium for homeowners insurance, appraisal fee, credit report charges, attorney expenses, and any other miscellaneous fees. Some of these will need to be paid before the actual closing. Sellers typically pay 5 to 10 percent of the home’s purchase price in closing fees.
  9. What you will do: You will be signing all of the documents, either in our office or through e-sign on our secure portal.
  10. The end of the process: When all of the documents have been recorded at the county office, buyers will get the keys to their new home. Sellers will receive their home sale profits from the escrow or title company within a few days, depending on how the money is transferred.

Knowing what to expect when you walk into a closing will help make the experience much less daunting. And remember, Dynasty Title Company will be with you every step of the way. Orlando home sellers can trust your dedicated title team to guide you through the closing process from start to finish.