You’re almost there. After months of dealing with realtors, lawyers and the countless potential buyers, it’s finally time to close the deal. We’ve all heard the horror stories of deals going wrong at closing, and you’re probably just ready for the whole process to be over. Let’s take a closer look at some of the things you can expect when closing your home in the Tampa Bay real estate market, as well as a few things you can do to make the process a successful and easy one.

Repairs

Are there any repairs that need to be done on your home? If there are, don’t wait to hire the contractor and begin the process.There are many Tampa homes for sale, and the sooner these repairs are tended to, the more appealing your home will be and the sooner you’ll be ready to close the deal. Sure, you’re moving out and the thought of fixing up the place isn’t exactly ideal. But, remember — the buyer is making an investment, and they’ll want to make sure that the house has been repaired and fixed before they make the purchase. Keep any and all invoices and receipts. Take before and after photos too, just in case you need them later in order to prove you did the work. Having the repairs finished, as well as the proof they were done, will help make the closing process a smooth one.

One Last Walk Through

Before both parties sit down to finalize the sale of your home, the buyer and their lawyer will take one final walk through of the house. In most cases, you will not be invited to join. This is an opportunity for them to inspect the home to be sure there aren’t any surprises. For example, maybe they didn’t notice a faulty light switch before, or a rug was covering a damaged area of the wood floor. These are all things the buyer will be looking for as they walk through the house one final time. Be sure to have those repairs done and don’t conceal any major damage to the home. If that damage is discovered in the final walk through, the buyer could potentially back out entirely. Or, at the very least, this will delay closing as you fix the problem or renegotiate the deal.

Time to Finish the Deal

This is when both parties finally sit down and sign the paperwork. Most of the time, this part of the process is short and sweet. The buyer, however, does have the right to negotiate all the way up to the point they actually sign the contract. If, for example, a problem was discovered on the final walkthrough, they may ask for you to take a certain amount off the total sale, as opposed to having you fix whatever it is. Trading can be a better option. Maybe you’ll want to throw in the washer and dryer, purchase a gift card in the amount of a new refrigerator, or perhaps another barter option. If you were to renegotiate the dollar amount of the sale, this requires an alteration of the contract and the buyers loan. This can take several days. This is undesirable, especially when you’re so close to moving on with your life.

After Signing

It’s time to let out a much earned sigh of relief. After all the paperwork is signed, your lawyer will handle the payment of your loan and then cut you a check for the remaining balance. This is often done the very same day. And after that, all you’ll need to worry about is packing things up, moving out, and moving on to bigger and better things. If you’re in the market for another home in Tampa Florida, check out all of the Tampa Bay real estate options at Tampa Bay Realty and Investment Group.