Ep. 26 –Sellers: Closings

Summary

In this conversation, Clint C. Galliano and Ben Harang discuss the intricacies of the closing process for sellers in real estate transactions. They cover essential topics such as understanding closing disclosures, the role of property taxes, navigating counter offers, and the responsibilities of sellers on closing day. The discussion emphasizes the importance of preparation and communication to ensure a smooth closing experience for all parties involved.

Takeaways

·         The closing process should be a pleasant experience for both buyers and sellers.

·         Sellers receive a closing disclosure detailing their expenses prior to closing.

·         Property taxes are prorated at closing, affecting both buyers and sellers.

·         Privacy concerns differ between buyers and sellers during the closing process.

·         Sellers must provide ID and ensure they are ready to move out by closing.

·         Final walkthroughs are essential to confirm agreed repairs are completed.

·         The closing process typically takes about an hour if everything goes smoothly.

·         Utilities should remain on until the buyer can transfer them to their name.

·         Insurance should be notified of the sale to refund any premiums.

·         Effective communication between agents and clients is crucial for a successful closing.

Sound Bites

"It's always a good day to have a closing."

"Leave the utilities on for the buyer."

"Cancel your insurance the day after closing."

Chapters

00:00 Introduction to the Closing Process

03:20 Understanding Closing Disclosures

06:33 The Role of Property Taxes in Closing

09:21 Counter Offers and Purchase Agreements

12:37 Final Walkthrough and Seller Responsibilities

15:34 The Closing Day Experience

18:26 Post-Closing Considerations

25:38 Disclaimer

Hosts 

Ben Harang, REALTOR® La. 

License #: 36589 

Keller Williams Realty Bayou Partners 

Mobile: 985.859.2500 

Office: 985.262.4400 

[email protected]

benharang.com 

Clint C. Galliano, REALTOR® 

La. License #: 995704723 

Keller Williams Realty Bayou Partners 

Mobile: 985.647.4479 

Office: 985.262.4400 

[email protected]

clintcgallianorealtor.com 

Produced by Clint Galliano 

Music by Wiggins Studios

Keywords

real estate, closing process, sellers, property taxes, closing disclosure, counter offers, purchase agreement, final walkthrough, utilities transfer, insurance

Click here to view the episode transcript.