Seller's Guide: Finalizing Your Property Sale with a Notary
Selling your property can be an exciting yet daunting process. Once you've accepted an offer, there are still several important steps to complete before the sale is finalized. In this article, we will guide you through the critical stages of signing the deed of sale and making the final payment.
1. Preparation of the Deed of Sale
After agreeing on the terms of the sale with the buyer, it's time to prepare the deed of sale. This document is drafted by a notary and outlines the conditions of the sale, including the price, payment terms, and any other agreements.
2. Reviewing the Deed of Sale
Before signing the deed of sale, review it carefully with your notary to ensure all details are accurate and reflect your agreement with the buyer. This is also an opportunity to ask any questions or address concerns you may have.
3. Signing the Deed of Sale
Once both parties are satisfied with the deed of sale, it's time to sign. Both the seller and buyer must be present at the notary's office to sign the document in the presence of the notary. This step legally transfers ownership of the property to the buyer.
4. Payment of the Sale Price
The final payment is typically made at the time of signing. The buyer will provide the notary with a bank check or wire transfer for the full sale price, which will then be transferred to the seller after the notary's fees and taxes have been deducted.
5. Handover of Keys and Documentation
After the signing and payment, the seller will hand over the keys and any relevant documentation to the buyer. This includes property deeds, energy performance certificates, and other required paperwork.
6. Post-Sale Formalities
Finally, the notary will handle any necessary post-sale formalities, such as updating the land registry and informing the local authorities of the change in ownership. The seller will receive a copy of the signed deed of sale for their records.
By following these steps and working closely with your notary, you can ensure a smooth and successful property sale.