Selling your home can be an exciting process, but it also requires patience. It is currently a “buyer’s market.” In this climate, sellers should expect to receive push backs from aggressive buyers. There can be several twists and turns, and as a seller, you can be faced with several important decisions along the way, so it is very important that you receive sound legal advice.

Contact our closing attorneys at The Kaloidis Law Firm, LLC, to provide you with the legal advice that you need every step of the way to sell your home to your satisfaction. Our results-driven attorneys can answer all your questions as we tackle the sometimes overwhelming process associated with selling a home. 

We are your local Waterbury closing attorneys. We represent sellers throughout Waterbury, Middlebury, Watertown, and all surrounding areas.

Residential Closings for Sellers

By understanding what needs to happen at each step of the legal process, you can ensure that everything goes smoothly when it comes time for you to close the sale of your home.

• The home sale contract: The first step of the closing process is the home sale contract. You and the buyer will sign a written agreement containing all important terms of the sale. The contract is usually prepared by the real estate agents and then reviewed by the closing attorneys for both sides. In some instances, the closing attorneys will draft the contract’s terms. The home sale contract will include the purchase price, closing date, items included (or excluded) in the sale, and any sales contingencies. It is essential to review this document carefully before signing, as it legally binds you. If you contact us prior to signing, we will review your contract and will answer any questions you may have about the contract’s language. If necessary, we will directly negotiate the contract’s terms to protect your legal interests.

• Title Documents: Your buyer will order a title search for your property to ensure that you are selling property to which you have clear legal title. Simply stated, you can only sell what you legally own. We will use the property’s boundary descriptions from the title search to prepare your transfer Deed. Also, we will prepare payoff documents for any liens against the property, like a mortgage, a home equity loan, or legal judgment, that must be paid and released by the lien holder. 

• Closing day documents. On the closing day itself, there will be several documents that need to be signed by both parties, including deeds, mortgages (if applicable), affidavits of title, bills of sale, Power of Attorney forms (if applicable), and any other documents necessary for completing the transaction according to state law and local custom. We will explain each document in detail before you sign so that you fully understand their legal meaning and implications. As soon as both parties have signed all documents, ownership will transfer from seller to buyer, at which point payment will be issued to cover any remaining mortgage balance or other liens secured against your property. We will ensure that you receive all necessary funds at closing. 

The Responsibilities of Sellers in Residential Closings

When you sell your home in Connecticut, you have certain responsibilities regarding the sale.

First, you must verify that you have full ownership of the property and that no liens or judgments have been placed against it. If there are any liens or judgments, you must take steps to pay them off, most likely out of the sales proceeds. In addition, you are responsible for making sure all taxes on the property have been paid up to date. We will assist you in meeting these obligations.

You also must disclose any information about the property regarding known defects, such as issues with appliances, or plumbing work (Connecticut General Statutes § 20-327b). Failure to do so can result in legal action from the buyer if they become aware of these facts after closing. It is also your responsibility to make sure all necessary repairs are completed prior to closing so that the buyer is not left with unexpected costs down the line.

Contact The Kaloidis Law Firm for legal representation

With a knowledgeable lawyer on your side, you can protect your interests and ensure that your sale goes smoothly. Contact The Kaloidis Law Firm, LLC, for experienced legal guidance handling everything relating to the sale of your property. 

Reach out to our office in Waterbury to get legal assistance. Call 203-597-0010.