Closing Day: The Final Steps of Your Home Sale
You have made it through pricing, preparation, marketing, showings, negotiations, inspections, and appraisals. Closing day is the final step, and while it is largely procedural at this point, there are still important details to handle to make sure everything goes smoothly.
The Final Walk-Through
The buyer will conduct a final walk-through of the property, typically within 24 hours of closing. This is not another inspection. It is a verification that the home is in the agreed-upon condition, that any negotiated repairs have been completed, and that no new issues have appeared since the inspection.
To prepare for the walk-through, make sure the home is clean, all personal belongings have been removed (unless a rent-back is in place), and any agreed-upon repairs are visibly completed. Leave documentation for repair work in a visible location so the buyer can confirm what was done.
Walk-Through Checklist
All personal property removed unless otherwise agreed upon
Home is clean and broom-swept at minimum
All systems functioning: HVAC, plumbing, electrical, appliances
Agreed-upon repairs completed with receipts or invoices available
Garage door openers, keys, and access codes ready for handoff
No new damage to walls, floors, or fixtures from the move-out
What Happens at Closing
In Massachusetts, closings are typically handled by a closing attorney. Both parties review and sign the final documents, funds are transferred, and ownership officially changes hands.
Documents You Will Sign
Settlement statement (HUD-1 or Closing Disclosure). This summarizes all financial transactions in the sale, including the purchase price, closing costs, prorations, and your net proceeds.
Deed. The legal document transferring ownership from you to the buyer.
Transfer tax documentation. Massachusetts requires the seller to pay a transfer tax (excise stamps) at closing.
1099-S reporting form. For IRS reporting of the sale.
Receiving Your Proceeds
You have two options for receiving the proceeds from your sale. Most sellers opt for a wire transfer directly to their bank account, which typically processes the same day. You can also receive a check at closing, though wire transfer is faster and more secure.
I will review the settlement statement with you before closing day so you know exactly what your net proceeds will be. There should be no surprises at the table.
Transferring Utilities and Services
Before closing, arrange to transfer or cancel the following: electric, gas, and water service; internet and cable; trash and recycling pickup; home security system monitoring; lawn care, snow removal, or other property maintenance services; homeowner’s insurance (confirm cancellation date with your provider); and mail forwarding through USPS.
What If Something Goes Wrong?
Occasionally, last-minute issues arise: a lender delay, a title problem, or damage discovered during the walk-through. While uncommon, I have dealt with all of these situations and know how to resolve them quickly.
My construction background is particularly useful when walk-through issues surface. If the buyer raises a concern about something physical in the home, I can assess it on the spot and provide an informed response rather than guessing or delaying the closing.
After the Sale
Once the documents are signed and recorded, the sale is complete. Keep copies of your closing documents and settlement statement for your tax records. Your accountant will need the sale price, your original purchase price, and documentation of any capital improvements made during ownership to calculate your tax position.
It has been my privilege to guide you through this process. If you ever need a recommendation for a contractor, a referral for your next home purchase, or just have a real estate question down the road, I am always here. Reach out anytime at 617.721.8384.
