Closing Time
If you’ve made it this far, congratulations are just around the corner. There are a few final steps to take care of before the sale is officially complete.
Final Walk-Through
Usually scheduled the day before or the day of closing, the final walk-through allows the buyer to confirm that agreed-upon repairs have been made, the property is in the same condition as when last seen, and that no personal items have been left behind.
Services and Utilities
Sellers should plan to cancel or transfer utilities and home services for the day after closing. While the buyer will usually transfer them into their name at closing, it’s a good idea to confirm this the next day. It’s also important to keep utilities on through closing if required by the contract. Because closings can sometimes be delayed by a day or two, leaving utilities active until the sale officially records helps avoid complications for both parties.
Be Prepared for Last-Minute Issues
Even at this stage, occasional hiccups can happen such as a last-minute repair issue or a delay with the buyer’s financing. A skilled Realtor® and closing attorney know how to handle these situations quickly and with minimal stress.
Closing in South Carolina
In South Carolina, closings are handled by attorneys rather than title companies. The closing attorney will prepare a settlement statement that details all aspects of the transaction. The buyer signs their documents with their attorney. The seller signs the deed and closing paperwork with their attorney. Once everything is executed, the deed is recorded.
Keys are given to the buyer and seller receives their money when the deed records and/or the transaction officially funds. Communicate with your agent and attorney so everyone can plan accordingly to best facilitate your needs.
If a seller cannot attend the closing in person, arrangements can be made for a mail-away or to sign in advance. Net proceeds may be wired directly to the seller’s bank account or issued as a check. Keys, garage remotes, and any important property information should be provided so the buyer can take possession once the transaction officially funds and records.
