As a seller, the closing stages of selling your house can be a very stressful event.
There can be 101 things to see to and you do not want to miss out doing anything important that can inconvenience you later on. Especially if you are on a tight timeline to move out of this current house you are selling and going into the new house.
So here’s a checklist for you sellers, to ensure that you have everything that needs to be taken care of checked off a list.
- Notify Everybody Of Your New Address
This is important as you do not want to miss any important letters. There will be countless people and businesses that need to be informed of your change in address.
First thing first will be to get to the nearest neighborhood police and have your new address updated. When you do that, you will update several government agencies at once. Do remember to bring along your proof of new residential address dated no more than 3 months back.
2. File Up All Your Sale Documents
Keep in a folder all the documents related to the sale of your house. (option to purchase, commission statement, etc) You can easily access them should the need arises.
For properties that are under the tenancy, ensure that you have with you the original tenancy agreement and the stamp duty certificate. These need to be handed over to the buyer’s lawyer.
3. Cancel All Giro Arrangements
It is quite common that your utilities, taxes related to the sold property and such are under Giro arrangement. You do not want to be paying for them after your property is sold!
Once the sale is confirmed, you can go about informing the banks to remove the giro deductions for the relevant bills.
4. Pay Off All Outstanding Property Taxes, Town Council and MCST Fees
The completion of the sale of the property does not always fall on a regular month end. you are responsible for the property tax and fees until the last day of ownership.
As property tax are payable yearly in advance, the amount will be pro-rated back to you.
5. Cancel Your Insurance
If you have bought insurance on your property, you should cancel them now that it is no longer required.
6. Put All Keys, Remotes Together
The keys will have to be handed over to the buyer or the buyer’s lawyer. For good karma, it will be a good practice to have everything places nicely into a box and hand over to the buyer.
7. Collect All Manuals, Warranties, and Receipts For Appliances
One of the items that often get lost during house moving. If you do not already have a habit of filing all the manuals and warranties, it will be good to go about early. The last few days of moving are always hectic.
If those appliances are to be left behind for the next owner, the manuals can then be passed to them.
8. Final Inspection With Buyer
Usually, the house is sold vacant (for HDB is a must). All items are to be removed except for fixtures. It will be good for you to do a walk through with the buyer days before the completion of the sale to ensure everything is in order.
This will also be the last chance for you to ensure that you have taken with you everything that is of importance.
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