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Your Home is Sold, Now What?

Your Home is Sold, Now What?

keysSince selling a home can take a lot of time and effort, it’s tempting to just sit back and relax after your home is sold. However, there are still a few things that require your attention. It’s easy to waste money on mistakes that creep up when you’re closing the deal. Keep these quick tips in mind to make a smooth transition after selling your home.

Steps After the Sale of Your Home

Downsize

sortingBefore packing, it is a good idea to clear out unnecessary belongings into three separate piles; one to sell, one to
donate, and one to trash. By selling, donating, and trashing your unwanted items, it will put a little extra cash in your pocket and make moving a lot easier. Click here to learn more tips on decluttering.

Take All Services Out Of Your Name

You want to make sure that you are only paying for the services that YOU are using, such as heat, electricity, and cable. Contact your cable, utility, and phone providers and let them know that you are moving and need your account closed on the day you move.

Cancel Memberships

If you have gym or store memberships locally that will no longer be necessary, cancel them, especially if they charge you by the month or annually.  If you can continue to use them at your new location just make sure they have your new home address prior to moving.

petThink of the Pets

If you have pets be sure to let the city dog officer know you are leaving for pet licensing reasons.  Your veterinarian should be made aware as well especially if you will no longer be needing their services because they can provide you the pet’s medical history to pass along to your new vet.

Keep Paperwork In Order

You may be tempted to throw away all of the paperwork that you have built up during the home selling process but that is ill advised.  Save it and keep it readily available for taxes and future reference.  You will have to show proof of the expenses paid and the money you made from the sale. You also want to keep any records of home improvement to show to the IRS. They may allow you to use some home improvements for tax deductions.

Verify Mortgage Payoff

Make sure about a month after the sale that your mortgage was paid off and recorded.  Double check this with the credit bureaus as well.  It’s much easier to remedy any missed documentation right after the transaction than it would be if this was discovered way down the line.

Steps to Move Into Your New Home

Change The Locks

When buying a new home, the locks should be immediately changed on all of the doors. You don’t know who still has the old keys; the previous owners may have passed keys out to family, friends and service providers.  It is best to have a locksmith change them and provide you with all new keys.

sortingChange of Address

Make sure you advise everyone you know of your change of address. Not just friends and family, but also your bank, credit card companies, cable company, doctors, magazine and newspaper subscriptions, the post office, city hall, and the IRS.  You don’t want to miss out on important documentation.

Verify Recorded Documentation

Make sure that all the documentation on your new property was recorded because backtracking on this step later can be difficult. Visit your city’s Recorder of Deeds and they can assist with verifying this information.

Get Familiar With the Area

Scope out the area around your home to find the nearest hospital, schools, bank, post office, and local convenience stores. Post a note on your refrigerator with all the local emergency phone numbers and of course the best pizza shop in town. If you are moving with a pet, locate the closest veterinarian, pet hospital, and dog friendly parks.