Closing is a time of packing and organization. Be sure you do not pack anything that you agreed to sell! Unless you specifically mentioned certain fixtures, everything must remain in place.

 

At closing, you are responsible for handing over the home in the same condition it was at the time of sale. This applies to everything that was in the agreement. If the home suffers a major disaster, you are responsible for telling the buyer, at which point the buyer can reconsider the deal; renegotiating or terminating. The buyer may also choose to close the deal and receive the insurance proceeds for the damage. In this unfortunate event, remember not to make any repairs until you find out what the buyer wants to do.

 

The Closing

Once the agreement of sale is signed, both the seller and buyer are under a legal obligation to close. If either party then chooses not to close, legal proceedings will ensure.

 

If the buyer breaks the deal, the seller can claim the buyer's deposit or sue for damages.