Escrow Has Closed! Now What?

The close of escrow is always an exciting time for buyers and sellers. Those 15-45 days of negotiations and inspections have finally settled and it's time for each party to move on to their next life chapter. Here is a quick list of some things to remember after closing.

Sellers

- Leave the appropriate items in the house, including appliance owner's manuals/warranties, keys, and garage door opener(s). Also leave any pertinent contact information for the HOA or condo board.

- Discontinue any old services such as utilities, alarm, cable, and Internet.

- Keep your records close by for tax season. Your new capital gain will yield a hefty tax but you can sometimes counterbalance it with write-offs such as home improvements.

Buyers

- Change the locks and keys for your doors. Think of all the folks who have had access to those keys over the past month and how many copies are potentially still floating around. It's a quick and easy solution for your family's safety and peace of mind.

- Contact utilities, alarm company, and other providers such as cable and Internet to begin your services.

- Have easy access to your home warranty coverage and contact information. Don't let a small fix turn into a big problem--if anything goes awry, contact your home warranty to have it fixed right away.


And of course, always remember to change your address with the post office and other service providers. Congratulations on your new life chapter!