A day in the life of a Seller – it is the day of closing!  Finally, weeks and months of waiting over.  As I look back on the journey it was challenging, yet fun in some ways.  We started by consulting with our Realtor about what we should do with the house and went all the way from fixing up the house, biting our nails through all of the marketing and showing (and getting a buyer!), crossing our fingers through the negotiations (thank God for our Realtor!), and then signing a million documents through closing.  Phew, it’s over.  What a great feeling…it’s about 5:00 p.m. and we’re just waiting for the Buyer’s Mortgage company to fund…then hand over the keys and celebrate!

6:00 p.m. Phone’s ringing, ringing, better get it…this is unbelievable!!  My Realtor just called me and told me that the Mortgage Company has not funded yet but the Buyer just called from the house and the house is flooded!???!!

This is a true story. What lessons should we learn from this experience?  There are a couple of things to consider:

• The buyer should have never been in the house before the Mortgage Company funded – how did they get the keys!??  Be sure never to give the Buyer the keys, even if you’ve signed all the papers and the closing is over.  Let the Title Company or the Broker/Realtor give the keys to the Buyer – they will not provide the keys until the funding is complete and all outstanding items are closed.
• Be sure that you check with your home insurance company to insure that your insurance policy is in-force throughout the day of closing (until midnight is best or the next day, even better).