Close of Escrow on Your Market Property

Cancel Home Services and Utilities

After closing, you'll need to cancel or transfer:

• Electric, gas, water, and sewer services
• Cable, internet, and phone
• Lawn care, pool service, or other recurring services
• Insurance policies on the property (homeowners or landlord)
• Newspaper subscriptions and mail forwarding

We provide a helpful list of Market service providers and cancellation contact information to simplify this transition.

Closing Day

At closing, you, the buyer, and the closing agent sign the settlement agreement (also called the closing statement or HUD-1). This document details all financial transactions involved in the sale and certifies their accuracy.

You'll also:

• Sign the deed transferring property ownership to the buyer
• Sign any required affidavits or supporting documents
• Deliver all property keys, garage door openers, gate codes, and access information
• Provide pertinent property information (warranty documents, manuals, etc.)

If you're unable to attend closing in person, arrangements can be made for remote signing through digital tools or mobile notary services — particularly common for out-of-state sellers.

Be Prepared for Last-Minute Issues

Even at this final stage, unexpected issues sometimes arise. Common last-minute complications:

• Buyer's loan processing delays
• Title issues discovered during final title work
• Final walk-through findings
• Document errors requiring correction
• Wire transfer or fund disbursement delays

Don't worry. We've encountered these issues before and know how to resolve them efficiently. Most are minor and resolvable at the closing table. More significant issues may delay closing by a day or two but rarely derail the deal entirely.

Receiving Your Funds

Once everything is signed and the buyer's funds are received, you receive the proceeds from the sale. Options include:

• Electronic wire transfer to your designated account (typically same-day)
• Cashier's check delivered at closing

Most sellers prefer wire transfer because funds are immediately available and there's no check to deposit and clear. Confirm wire transfer instructions carefully — wire fraud in real estate is a significant risk, and the closing agent provides verified wire instructions through secure channels.

Once funds are disbursed and the deed is recorded at the County Recorder's office, your sale is officially complete.

After Closing

A few practical items to handle in the days following closing:

• Forward mail if you haven't already
• Update your address with banks, employers, and other important contacts
• Cancel automatic payments linked to the property
• Keep your closing documents in a safe place — you'll need them for tax filing
• Consult your tax advisor about capital gains implications and any 1031 exchange considerations if you're reinvesting the proceeds

For sellers who are investors and have used a 1031 exchange to defer capital gains, additional steps and strict IRS timelines apply — replacement property identification within 45 days and closing within 180 days. We coordinate with qualified intermediaries to keep 1031 exchanges on track.