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Oakland and Lapeer County Home Seller- The Closing is Set- What To Do Now?

real estate oakland and lapeer county miNow that all the contingencies have been met or waived and we have set the closing both buyer and seller have a few items to take care of prior to the closing.

If there is possession after the closing there isn’t a whole lot for either side to do. Seller– you need to let your insurance company know when you are closing and find out if you need to convert to renter’s insurance. Buyer– you already have homeowner’s insurance as a condition of the mortgage so the only thing for you to do is your pre closing walk through.

If possession is immediate (keys turned over at closing) there are a few things both sides need to take care of prior to closing.

First is to make sure the swich of utilities goes smoothly. If the house is on natural gas, the seller needs to call the utility companies to let them know the day possession will pass and give the name of the buyer. The buyer needs to do the same and get the gas and electric in their name. This way the house won’t be without power or heat and there will be no re-conncect fee for the buyer. Here is a link to a page within the DTE web site. Just type in the city or township name and it will get you the contact info for both the gas and electric companies that service that house.

If the house is heated with either propane or oil the seller will need to either bring proof of ownership of the tank to the closing or the contact information of the company that owns the tank. It would also be nice to bring the contact information for the company you currently use if the tank is owned.

If the house is on city water and sewer the buyer doesn’t need to do anything. The bill gets sent to the house and within 45 days after closing the buyer will be filing the property transfer with the township. The seller or your agent should order a final reading of the water meter and eliminate the need for a water escrow.

Seller– you will need to cancel your homeowner’s insurance effective day of or day after closing.

Jackie Hawley
cell: (248)736-6407
email: Jackie@JackieHawley.com

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