Estate Rental Property Closing Case

Satisfactory Essays

With the purchase & sale agreement signed and the assent forms trickling in, it was time to prepare for the closing. After completing the paperwork on the sale as depicted in the article Selling the Estate Rental Property: The Purchase & Sale Agreement and Probate, the time was right to complete required tasks for the closing. The day after completing the paperwork, the realtor sent me a list called “The Seller’s Closing Checklist”. The checklist contained required tasks needing completion before the close. Although the list was two pages long, not all tasks were relevant to this closing. In addition, not all tasks were my responsibility. The realtor offered to complete a task, and a couple of tasks were strictly for the attorney. So, with …show more content…

Each town sets requirements as to where these detectors need installing. The realtor gave me the requirements for the town of Weymouth. The next day I bought the detectors and installed them. 2) Massachusetts also requires a fire inspection before you can close a sale. So, after installing the detectors I made an appointment with the local fire department to inspect the home and to certify the detectors met the requirements. 3) The oil tank was near empty, so I arranged for an oil delivery. 4) The attorney needed to prepare the deed before the closing, so I sent the attorney the original deed. 5) Before closing, I had to cut off the utilities at the closing date. The tenants cancelled the phone service and the cable service before they left with my permission. Since no one was living there, the only utilities necessary were the oil for heat and the electricity. So, two weeks before the close I made one last oil delivery and cancelled the electricity as of the closing date. Other tasks that remained on the list referred to what I had to bring to the closing. Moreover, the only task that required any real effort was installing the detectors. After, installing the detectors, the list contained just a few phone calls. So, preparing for the closing was a straightforward

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