Congrats on finding your new home! Now that we’re almost at the finish line, there are just a few steps left before we will finalize your home purchase and sale. Here are some common questions we hear from customers about the closing process:
Closing typically takes about 4 to 6 weeks once we finalize the agreement with the buyer. While you focus on your new home, we’ll be hard at work behind the scenes those first few weeks.
You may not hear from us every day, but you can always reach out with any questions.
As you pack up and prepare to move, there are a few things you’ll want to keep in mind:
1. Confirm the date you’ll move out with your Home Advisor or Listing Agent if you haven’t already. Our team will immediately start preparing your home for listing to ensure you get top dollar.
2. Remember to set up your new home’s utilities (water, electric, gas, sewer, trash, etc.) in time for your move-in date. When it comes to your old home’s utilities, Orchard will take care of everything. We’ll transfer your old home’s utilities over to us, just in time for your closing date.
3. Be sure to remove all your belongings and any trash, leaving the house in “broom clean” condition.
4. Change your mailing address with the US Postal Service to your new home. It’s easy to forget this or plan to update later, but the sooner you do this, the better. Some common updates include: credit cards statements, phone or wireless statements, newspapers & magazines, subscription services (Amazon, pharmacies, Birchbox) and don’t forget to tell your loved ones.
Once your closing date is set for your new home, Orchard will confirm your closing date for your old home. Closing and selling your old home to Orchard usually takes place two business days before you close on your new home.
On both closing days for your old home and new home, you’ll sign your closing package and ownership transfer documents. Your closing attorney will ensure that your home sale proceeds and any closing costs associated with the transaction are sent to the correct party for the purchase of your new home.
After we close on your old home with your final buyer, any additional proceeds minus Orchard’s fee will be wired to you by your closing attorney within two business days.
Your Home Advisor will have shared an estimate of closing costs for both your old and new homes. Closing fees are different for everyone, but they tend to be around 1.25% of your old home’s sale price and 2-5% of your new home’s purchase price. Your closing attorney will reach out to walk through exactly what costs to expect on closing day.
Orchard is here to help! If you have any other questions or concerns about your closing, you can always reach out to your Home Advisor.
Orchard guarantees your home will sell, so you can buy your next one worry-free.
We provide peace of mind that your home will sell, plus list your home on the market to maximize your earnings.
Use our home sale calculator to estimate your net proceeds.
Our Home Advisors are experienced local agents who know how to sell for top dollar and help win your dream home.
All Orchard Home Advisors are experienced agents who know your local market inside and out. Request a consult today.
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