Post Closing Tips for Sellers

Post Closing Tips for Sellers

The 3 M’s for the South Tampa Real Estate Market: The Move, The Movers and The Math

What makes Nathan Bangs & Associates so helpful for South Tampa real estate sellers is our resources, experience, and expertise that allow our team to deliver all of the pre- and post sale services and due diligence needed for an accurate, complete and easy closing experience.

In fact, to make things easier, sellers can get familiar with the South Tampa real estate sales and closing processes by accessing our resource catalog here.

But there are also several additional concerns that sellers should keep in mind that take place during the final contract process and post closing. Here are some helpful tips on how to make the end of the selling experience as easy as possible.

The Move and The Movers

  • Remember to send change of address notices. The U.S. Postal Service recommends you complete and mail your Change of New Link Order Card or Internet form well in advance of your closing date.
  • Take services out of your name. This will help to avoid potential disputes with the buyers after closing over things like fees for the cable service you forgot to discontinue. Contact every utility and service provider to end or transfer service to your new address as of the closing date.
  • Contact your insurer to terminate coverage on your old home, get coverage on your new home, and ask whether you’re entitled to a refund of prepaid premium.
  • Get multiple moving company estimates and scrutinize each company’s estimate.
  • Be there during the mover’s packing, loading and unloading phases. If you’re there in person the incentive to do things perfectly increases. 
  • If you’re making a long-distance move, which is often billed according to weight, note the weight of your property and watch so the movers don’t use excessive padding to boost the weight.
  • Also check with your homeowner’s insurer about coverage for your move. Usually movers cover only what they pack.

The Math: Post Closing

  • Do the settlement math before closing. Sure, this is not a post-closing tip but it is so important we’ve included it again to reinforce its significance. The people at the title company who put together your closing documents aren’t perfect. They are employees who can, and do, sometimes make mistakes. The day before your closing, make absolutely sure to check the math on your HUD-1 Settlement Statement.
  • In addition, don’t leave any funds in escrow. The closing of your home sale should resolve any and all financial issues. The title company should release any and all money already held in escrow for you. Also be sure to leave any money involving your sale in any new escrow accounts for future issues. Closing mean final.
  • During closing you’ll sign a thick stack of documents, contracts and more. It is crucial to keep copies of all paperwork related to closing and settlement. Simply take the documents and store them in a safe place. You never know when you may need to access the documents for tax purposes, divorce, legal proceedings, IRS audit, selling the house in the future, etc.
  • For tax purposes, be sure to keep proof of any improvements you did to the home during your time there. Be sure to check with your CPA but the IRS currently allows you to add the cost of improvements to your home’s cost basis during the time you own the home, which is nice if you want to offset capital gains you realized on the sale. The only way, however, that you can take advantage of tax provision is to keep receipts of everything spent during your home improvement projects.

Additional Seller Information

For our catalog of helpful tips for sellers of South Tampa real estate please click here.

Professional Assistance for Tampa Home Sellers

Tampa Realtor Nathan Bangs established Nathan Bangs & Associates in 2005 to equally serve as the professional, property listing and selling Realtor and also to deliver unmatched services for buyers of real estate in throughout South Tampa. Now in the top 1 percent of more than 7,000 real estate agents in the greater Tampa Bay area, Nathan Bangs & Associates has won a number of awards for customer-focused service and high sales volume.

If you are thinking about selling, start by listing with Nathan Bangs, the leading Tampa Realtor, with a call to (813) 739-5925. Or, simply send us an email to explore your options and to find out when is the best time for you to make a move.

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Contact Information

Photo of Nathan Bangs Real Estate
Nathan Bangs
Keller Williams Realty
3502 Henderson Blvd.
Tampa FL 33609
For Buyers: 813-739-5925
For Sellers: 813-739-5965
Fax: 813.875.3701