Make sure you are ready to move out of your house after you sell it.
Selling your home is a big step because now you can move on to your next big adventure.
But even as you plan for what’s to come in your life, you can’t forget to take the necessary steps to wind up your financial affairs.
In particular, there are four things you will need to do before closing your current home. Read on to find out more and to make sure your move is as stress free as possible.
1. Cancel your home insurance
Once you no longer own your old home, there is no reason to maintain insurance coverage to protect it. You don’t want to be forced to pay for an insurance policy you don’t need, so contact your home insurance company and cancel your policy.
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If you’ve already paid off a full year of insurance and move out in the middle of the year, you may actually get a refund once you’ve canceled. Your insurer will send you a check for the cost of coverage that you prepaid but did not use. This is a big plus because you can get a little extra cash when you close your house.
It’s easy to forget to cancel coverage if you were paying your home insurance costs as part of your mortgage payment. So put it on your to-do list as soon as you know when your house is going to close. In most cases, you can call ahead and let your insurance company know when you will no longer need insurance.
2. Disable utilities
You don’t want to pay for the new owner’s electricity, water, sewer or garbage services. So be sure to turn them off before moving. Reach out to businesses and let them know that close day is the last day you want your account opened.
You may also want to provide information to new homeowners about the utility companies that maintain your home so that they can change the services to their name. And if you paid a deposit to activate your utilities, you might be eligible to get it back after you close the account.
3. Forward your mail
You’ll want to change addresses with the companies you do business with, but chances are you won’t remember. everyone you must notify.
To make sure nothing goes through the cracks, register with the United States Postal Service for your mail to be forwarded.
You can transfer your mail for up to a year, but be sure to sign up before closing so you don’t end up with letters in your old home before the transfer begins.
4. Configure services in your new home
Finally, you’ll want to make sure you’re ready to move into your new home with all the comforts you’ll need – including utilities, cable and internet, water, and garbage collection.
You can call your new home businesses in advance once you know the date you will be moving into your new home. This way there is no break in service once you move.
By taking care of these steps in advance, closing your home should be a stress-free process, and you can spend your closing day looking forward to making your new home your own.