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Contact Powers Team

If you have any questions or need more detailed information, please feel free to contact me via phone at 301.613.7253 or fill out the form to let us know how we can help with your real estate needs.

Office Location 795 Rockville Pike,
Rockville, MD 20852
Phone: (301) 613-7253
Fax: (301) 424-9290

What to Expect at Settlement

Once you have a settlement date, you should begin for that final day in your home.  There are more requirements of the buyer than the seller, but there is still a lot for you to do:

1) Begin switching over the utilities – make sure that you don’t completely turn off important utilities like gas, electric, or water so that the final inspection can be performed with those utilities working.  Instead, make arrangements with the buyer to make the switch over at the same time so there is no interruption in service.  The buyers are responsible to make their own calls for transfer.  Completely turn off things like phone service and cable/satellite service, etc.

2)  If one of the owners cannot be at settlement make sure that there are prior arrangements made.  Paperwork can sometimes be signed in advance for the sellers or a power of attorney can be given.

3)  Unless a rent-back is in place the property needs to be completely vacant on the day of settlement as well as broom cleaned.

4)  Bring a photo ID (such as driver’s license) as well as checkbook and all keys to the property to the settlement table.

5)  Call ahead to be sure the settlement is still on time.  Sometimes, the buyer’s lender may not have the money to the settlement office right at the time of closing for any number of reasons.  Or there may be some other glitch as there are many items to complete before closing.  Make sure that the settlement is “clear to close” before you head out to sign the papers to avoid any unnecessary trips.

More articles:

  • The decision to sell
  • The difference between a buyer's and a seller's market
  • Do I need a Realtor to sell my home?
  • Staging - what is it and why is it necessary?
  • Pricing it right is critical
  • What determines a home's value?
  • Marketing your home
  • What to expect after listing your home for sale
  • Home Improvements
  • What are disclosures?
  • Short sales, foreclosures, and bank-owned properties (or REO)
  • Lease options
  • Offers
  • Multiple bids
  • What is a seller subsidy?
  • Negotiating offers
  • Now that you have a contract on you home
  • What should I expect at settlement?

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