Expert Advice

Closing the Sale

Closing is a time of packing and organization. Be sure you do not pack anything that you agreed to sell! Unless you specifically mentioned certain fixtures, everything must remain in place.

You are responsible for handing over the home in the same condition it was at the time of closing. This applies to everything that was in the agreement. If the home suffers a major disaster, you are responsible for telling the buyer, at which point the buyer may walk away from the deal and have the deposit returned. The buyer may also choose to close and receive any insurance proceeds. In this unfortunate event, remember not to make any repairs until you find out what the buyer wants to do.

The Closing

Once signing the agreement, both the seller and buyer are under a legal obligation to close. If you decide not to for whatever reason, the buyer has the right to sue.

If the buyer decides to walk away from the deal, you can claim the buyer’s deposit or sue for damages.