You Sold Your Home- Now What?

In this solo episode of Jim Sells the Suncoast, Jim walks you through the crucial steps every seller should know once their home goes under contract. From inspections to closing day logistics, this step-by-step guide helps you avoid surprises and keep the deal on track.

Key Highlights

1. Inspection Period
   • A licensed inspector checks for hidden issues (roof leaks, electrical, mold, etc.).
   • Be ready for repair requests or renegotiations if problems turn up.
2. Appraisal Matters
   • Required by most lenders to confirm the home’s value.
   • Low appraisals can lead to price adjustments or buyer making up the difference.
3. Title Search & Clean Ownership
   • Ensures no old liens or claims complicate the sale.
   • Title insurance protects against unexpected legal snags.
4. Seller Disclosures
   • Transparency about known defects is crucial (Florida law requires full disclosure).
   • Undisclosed issues found later can lead to lost deals or legal trouble.
5. Negotiating Repairs or Credits
   • Buyers may request repairs or closing credits.
   • Flexibility can keep the deal alive if the inspection report reveals issues.
6. Timing Your Move
   • Don’t cancel insurance or utilities until the deal closes.
   • Clarify possession dates—if you need extra time post-closing, negotiate in advance.
7. Final Walkthrough
   • Buyer checks the home’s condition, including any agreed-upon repairs or appliances.
   • Missing items or unfinished fixes can delay closing or cost you extra.
8. Closing Day
   • Bring valid ID, review documents, sign away, and collect your proceeds.
   • Once funds clear, the property is officially out of your hands.
9. Post-Closing Wrap-Up
   • Cancel utilities in your name (but not before closing day!).
   • Update your address, notify insurance, and celebrate a job well done.

What’s Next?

Have questions about selling your home or making it through closing without the stress? Reach out to Jim at jim.ahearn@gmail.com or visit Jim Sells the Suncoast. Stay tuned for more insider tips to make your next Florida real estate adventure a breeze!

A Personal Note from Jim:

Hey there, I’m Jim Ahearn, your go-to real estate guide and host of Jim Sells The Suncoast podcast! 🎙️✨ Dreaming of Florida life? I’ve got you covered! As your dedicated buyer's agent, I’ll handle everything from walk-throughs to closing, making your home-buying journey as smooth as a Florida breeze.

Whether you're local or tuning in from afar, I’ll bring the Suncoast to you with virtual tours and expert advice. Let’s chat about your dream home and I'll connect you with all the right people to make it happen.

Ready to move to paradise? Drop me a line – I can’t wait to help! 🌴🏡

Transcript

Jim: 0:51

Welcome back to Jim sells us on coast where I take real estate mysteries and make them as easy to understand as a beachside cocktail menu. I'm agent Jim Ahern, your real estate expert, podcaster, and the guy's here to make sure you don't lose your mind before closing day. Today's topic. My house is under contract. Now what you've listed your home, survived the showings negotiated like a champ. And got an offer. You couldn't refuse, but before you break out the moving boxes or the celebratory margarita or a few more steps to get to the finish line, let's break down the seller's post acceptance checklist. So you don't hit any speed bumps on the way to closing step one, inspection time, brace yourself once the buyer's offer is accepted. They'll schedule a home inspection. A licensed inspector will go through the house like Sherlock Holmes, looking for roof leaks, electrical quirks, plumbing mysteries, and general weirdness. Depending on the buyer, they must have checked for termites, mold, radon, or lead based paint. Florida's humid, which means mold is basically a state resident. What this means for you, if the report comes back clean, fantastic. If not, be ready for repair requests or negotiations. A good buyer's agent, like you're truly on the other side of the deal, will help keep things reasonable, but be prepared for some back and forth. Step two, the appraisal. Does the price match the value? If the buyer is financing the home, their lender will send an appraiser to make sure the house is actually worth what they're paying. If the appraisal matches or exceeds a contract price, smooth sailing. If it comes in low, the buyer might ask for a price reduction, or they'll have to cover the difference out of pocket. What does this mean for you? If you get a low appraisal, don't panic. We can challenge it, get a second opinion, or negotiate a fix. This is why pricing your home correctly from the start is so important. If you went too high, this is where reality might set in. Step three, title search, clearing the path, the closing, your title company will run a title search to make sure there are no legal issues. Think old liens, unpaid taxes, or random long lost heirs who suddenly claim ownership of your backyard. What does this mean for you? If your title is clean, great. If there's an issue like an old mortgage that wasn't cleared, you'll need to resolve it before closing. This is why having title insurance is a lifesaver. It protects against any last minute surprises that could derail the sale. Step four, sellers disclosures. Transparency is key here. By now you should have already provided sellers disclosures. Which tell the buyer about known issues, flood history, past repairs, haunted attic, you name it. What does this mean for you? If you haven't disclosed something and the buyer finds out during inspection, they might back out or renegotiate. Florida law requires full disclosure of anything that material affects the value of the home. So honesty really is the best policy here. Unless you enjoy lawsuits, which I highly doubt. Step five, negotiating repairs or avoiding them altogether. The buyer has seen the inspection report. Now, they might ask for repairs, they could request a price reduction or closing credit, they could say all good and move forward. What does this mean for you? You are not required to fix everything, but some issues might be a deal breaker. If you don't want to deal with repairs, you can offer a credit and let the buyer handle it after closing. A little flexibility here can keep the deal alive and avoid losing the buyer. Step 6. Packing up, but not too soon. I get it, you're eager to move, but hold on, because the deal isn't done until closing day. What this means for you, don't cancel your home insurance or utilities just yet. Make sure your move out timeline matches what's in the contract. If you need extra time after closing, like a post occupancy agreement, we'll need to negotiate that in advance. No one wants to show up at a new home only to find you're still there in a robe making coffee. Step seven, the final walkthrough, last minute check. Right before closing, the buyer will do a final walkthrough. They're making sure the house is in the agreed upon condition. If repairs were negotiated, they're checking to see that they're actually done. If you were supposed to leave certain items, appliances, light fixtures, window treatments, They need to be there. What does this mean for you? Don't pull a fast one. If something was agreed upon, stick to it, a missing appliance or unfinished repair could delay closing or cost you money. Step eight closing day, time to sign and get paid. This is the moment you've been waiting for. And here's how it goes. Bring a valid ID review, all the closing documents carefully. This is where you officially transfer ownership. You are going to sign a lot of paperwork. Hope your hands warmed up. Get your check or wire transfer and celebrate. What does this mean for you? Once the funds clear and the documents are signed, the house is no longer yours. The buyer gets the keys, but you get to walk away with your profits. And just like that, you're officially free of home ownership responsibilities. Until you decide to do it all over again. So step nine, tying up loose ends before you disappear into the sunset with a margarita. Don't forget to cancel utilities in your name, but don't cut them off before closing, update your addresses for mail, banking, and other important accounts. Let your insurance company know you've sold the property. And most importantly, give yourself a pat on the back. Selling a home is no small feat and you made it happen. Closing. That's a wrap on today's episode of Jim sells the Suncoast. If this checklist helped you share the episode, subscribe for some more real estate wisdom. And if you're selling a home in Florida, call me, I'll help you price it right. Market like a pro and get you to closing without the stress until next time. Happy selling.