Whether you’re selling or buying a home, the final steps before closing are critical. Depending on the agreement with the buyer, sellers may have to make repairs, pay utility bills, produce a title search, and sign the closing documents before the closing.
Make Agreed-Upon Repairs
After the inspection, the buyer may request that the seller make certain repairs. If the seller agrees to do this, they must make sure the repairs are complete before the final walkthrough. Having these repairs done will prevent delays in the closing process.
Pay the Final Utility Bills
Depending on the closing date, the seller may be responsible for paying the final utility bills before handing over the keys. These bills may include water, electricity, gas, and trash services. Upon paying the final bills, the seller should inform the utility providers of the change in ownership and have the bills transferred to the new owner.
Produce a Title Search
A clean title is crucial for selling a house. The title company of the seller’s attorney will conduct a title search to confirm the ownership of the property and that there are no liens or claims against it. If there are any title issues, the seller must resolve them before closing.
Sign the Closing Documents
While the seller can sign the closing documents at the closing, they may choose to sign them beforehand to speed up the closing process. If the seller signs the closing documents earlier, they do not need to be present at the closing as long as they have a representative present.
Contact an Illinois Real Estate Attorney
If you plan to buy or sell a house in Illinois, contact the Law Office of Vogel and Mourelatos for an initial consultation with a real estate lawyer serving Kane and McHenry counties. Our experienced team can assist you throughout the process and make sure everything runs smoothly.