For sellers and buyers alike, closing day is a big moment. From the buyer’s perspective, it marks the end of the journey. But for the seller, there’s much more can still be done. Our REALTORS® are here to help you to achieve your goals, even after the sale has been finalized.
Nassau County homes for sale and Suffolk County homes for sale are both in high demand, often leading to a smooth process for sellers. Still, sellers should take action to protect their future interests. This checklist is the easiest way to ensure no future surprises related to your sale.
Let’s take a closer look:
- Keep Copies of All Paperwork
Closing often means signing dozens of forms, and you will want to keep every one of them. Even if you use a real estate attorney, settlement company, or other outside expert, have copies of all materials related to a sale in a safe place. It’s wise to keep copies at home and in a safe deposit box at your bank. - Keep Receipts for All Improvements
In many cases, improving your home before sale enables you to save on taxes when your improvements raise the appraised value of the property. That said, this is one of the tax benefits the IRS will most likely follow up on. All receipts related to improvements should be retained indefinitely. - Work with a Tax Expert
Tax laws change on an annual basis. Many changes over the last few years have not been favorable to sellers, but these things are cyclical—new tax benefits could be on the way at any time. With that in mind, it helps to consult with a Certified Public Accountant to maximize your results. - Handle Your Proceeds with Care
Many sellers will immediately buy after they sell, so their proceeds won’t be around very long. If it takes some time for you to buy, carefully weigh your options for investing your proceeds until you need them. Many sellers choose a money market account for this purpose. This is another area where a tax expert is your best friend. - Leverage Your Seller Agent for Help
Some real estate agents work exclusively with buyers or sellers, while others are happy to take on any part of a transaction. Connect with your agent to understand whether that person can stick with you through your next buy. If not, lay out your objectives and ask for a referral to a new agent who can help. - Complete Change of Address Notices
Don’t forget to handle your change of address! According to the U.S. Postal Service, completing all change of address notices 30 days before you move is best. Remember to log in and change subscriptions manually. Ensure all online accounts are associated with your cell phone so you can access them after moving. - Evaluate Your Finances
Most sellers become buyers again within a short time, so you’ll need to tackle things like financing and a down payment. Now is a good time to check your complete credit report for any errors or inaccuracies. Compare your lending options and get pre-approval to understand exactly how much financing you have at your disposal. - Don’t Move Too Fast
Once pre-approved, you may have as little as 30 days to close on a home. Don’t feel pressured to rush—take this step only once you’re ready. Document your priorities and explore the neighborhoods that might match your long-term lifestyle goals.
Contact us to find out more or get started.