If repairs are agreed upon in the contract, they must be completed prior to closing. We expect paid receipts from workmen to be sent as soon as the work has been completed. We will make a final appointment to "walk through" your home just before closing to check the repairs and observe the condition of the house.

When possible, I try to arrange an "orientation" meeting with the sellers to show you how to operate the sprinkler, security, pool, etc. If this cannot be arranged, we will ask the sellers to leave some helpful notes. Normally, sellers have a drawer set aside for warranties, keys, garage-door openers. Often they will leave a neighborhood list, babysitters, gardeners or workmen whom they have used. Sometimes the cleaning person would like to continue.

Utility Accounts (Coldwell Banker Concierge 1-877-846-5500)

A week or so before closing it will be necessary to call your utility services and request new accounts. They should start on the closing date.

You may want to use our free concierge service to connect your utilities. This is very helpful if you are out of town. Just call the number above to speak to our concierge person.

Insurance

You will need to finalize your insurance coverage on the house. Your insurance agent will send the policy to the title company, and it will be paid by the closer. It is usually done this way to meet the lender's requirement that a policy be in effect before funding the loan. If you are paying cash, you will need to make sure that your home is covered.

Tax Prorations

The seller's share of the current year's taxes will be credited to you at closing. If you have an escrow account for taxes and insurance, this money will be placed in your escrow account. The proration will be done with the best information available to the title company.

Property values for the current year are not set until about June, and tax rates are not set until October. For this reason, the closer often must use the previous year's value and rate. At closing you and the seller will sign a form agreeing to privately settle up if the actual tax figures vary from those used at closing.

Closing Statement

A day or two before sitting down to sign documents, the closer will prepare a closing statement showing your charges, credits and "bottom line." On this statement you will receive credit for your earnest money and option fee. I will review the statement and forward you a copy. This will give you a chance to ask questions and understand the statement prior to attending closing. You may have your closing funds wired to the title company, or you may bring a cashier's check to closing. (Regular checks cannot be used.)

Signing Documents

The closing agent is either a title agency or attorney who does closings. They compile the legal documents, order title insurance, payoff liens, prorate taxes, prepare a closing statement, pay the seller and record documents. The escrow agent does not represent either party at closing.

Sometimes buyers want to have their title, survey and closing documents reviewed by a private attorney prior to closing. I will facilitate this for you, if you wish.

The buyer and seller do not have to attend together, although many do. Sometimes buyers or sellers pre-sign documents several days before the closing date, if this is more convenient. It is also not uncommon for buyers to receive documents by overnight express, and sign before a notary in another state. Or, one spouse may get "power of attorney" to sign for the other. The goal is to make the process as convenient for the parties as possible. After documents are signed, the closer must fax them to your lender for review. Funding of the loan may take place several hours later.