NAVIGATING THE FINAL STEPS IN YOUR HOME SELLING JOURNEY: ESSENTIAL FAQS FOR PORTLAND, OR AND VANCOUVER, WA SELLERS
Welcome back to the third and final part of our series addressing the most frequently asked questions from home sellers. As someone with over 21 years of experience in the real estate industry, I’m thrilled to guide you through the final steps of your selling journey. In this post, I’ll address some crucial questions I frequently receive from sellers in Portland, OR, and Vancouver, WA.
TURNING OFF YOUR UTILITIES: AVOIDING PREMATURE ACTION
One common question I hear is, “At what point do I turn off utilities?” It’s essential to avoid turning them off too soon. Make sure you confirm the actual closing date of your home to avoid bumps in the road. Inform your utility providers ahead of time about the closing, but also follow up after everything is finalized. This helps avoid causing the new homeowners additional expenses if utilities are disconnected prematurely on their move-in day.
STEPS TO TAKE:
* Contact utility companies prior to the closing date.
* Confirm and notify them on the following business day post-closing.
* Ensure responsibility is transferred to the new homeowner seamlessly.
WHAT TO DO WITH PERSONAL PROPERTY?
Another frequent question is, “Can I leave some personal property behind?” Contractually, all personal items must be removed from the property unless otherwise agreed upon. Personal property includes everything not attached or fixed to the home.
WHAT THIS MEANS FOR SELLERS:
* Ensure all personal items are removed unless prior permission is obtained.
* Discuss with your real estate professional if you believe some items could be useful for the new homeowner.
Keep in mind: TV wall mounts must stay as they are considered fixtures due to their attachment to the wall. You can absolutely take your TV with you, though!
ESSENTIAL HOME SAFETY: SMOKE AND CARBON MONOXIDE DETECTORS
“Do I really need smoke detectors and carbon monoxide detectors?” is a question I’m often asked. Yes, you do. It’s not only necessary; it’s the law. Smoke detectors should be less than 10 years old, and the same rule applies to carbon monoxide detectors.
KEY REQUIREMENTS:
* Hardwired smoke detectors need battery backups but don’t require lithium batteries.
* Battery-operated detectors require 10-year lithium batteries.
Refer to local codes for Oregon and Washington to ensure compliance.
UNDERSTANDING FIRPTA: NECESSARY FOR A SMOOTH TRANSACTION
“What is FIRPTA?” This question comes up quite a bit. It stands for the Foreign Investment in Real Property Tax Act, which was introduced to ensure foreign investors pay their due taxes. If you’re not a foreign investor, you’ll sign a notice at the escrow company to confirm your status, ensuring you receive all net proceeds.
For any more questions or if you need further clarification, feel free to book a call with me, and we’ll make your real estate move as smooth as possible. Click here: https://calendly.com/lewisrealtors
