Do you have any obligations after selling your home?

Selling your home is a significant milestone, and it can feel like the hard work is over once the sale is complete. However, there are still responsibilities to consider.

Here’s a quick guide to your post-sale obligations:

1. Finalize Financial and Legal Details
   Confirm that all financial obligations, such as mortgage payments, outstanding property taxes, and agent commissions, are settled. Keep all sale documents safe for tax purposes and future reference.
2. Transfer Utilities
   After the sale, transfer all utilities into the buyer’s name to avoid unexpected charges. This includes electricity, gas, water, and internet services. Confirm final meter readings to ensure accurate records.
3. Disclose New Issues
   If any new issues arise before the buyer moves in, inform them. This demonstrates good faith and can prevent disputes later.
4. File for Capital Gains Tax
   You may need to report capital gains for tax purposes if the sale resulted in a significant profit. Consult a tax advisor to understand your obligations and any applicable exemptions.
5. Stay Available for Questions
   Be available to answer any questions the buyer may have about the property after the sale. This can help them feel more comfortable in their new home.

By addressing these steps, you can ensure a smooth transition to the new owner and enjoy your next chapter with peace of mind.