Selling a home · Stage
Closing
The seller's side of closing, the settlement statement, and the proceeds calculation.
The signing stage on the seller side. The settlement statement shows the math — sale price minus commissions, transfer taxes, attorney fees, mortgage payoff, prorations, and any seller concessions — with the bottom line being the wire to the seller's account.
- Reviewing the settlement statement line-by-line to confirm commissions, payoff, prorations, and any concessions
- Signing the deed transferring ownership and the mortgage payoff documents
- Completing owner's affidavit and FIRPTA paperwork (the latter only when the seller is a non-US-resident, with withholding implications)
- Filing state-specific transfer-tax declarations and receiving the Form 1099-S that triggers next year's tax reporting
- Confirming wire instructions for the proceeds through a verified phone number
Questions to ask at this stage
Ask yourself
- Does the settlement statement reconcile with the seller-net-proceeds estimate from earlier in the process?
Ask the closing professional or attorney
- Has the mortgage payoff figure been verified with the lender within the last few business days?
- Are wiring instructions to receive the proceeds confirmed through a known phone number, not just an email?
- Are state-specific transfer-tax declarations or affidavits required, and have they been completed?
Articles in this stage
More in the seller journey
- 01Should you sellHow to think about timing, equity, the tax implications, and what selling actually nets.
- 02PreparingWhat to fix, what to skip, and how listing-side work translates (or doesn't) into price.
- 03ListingHow agents price homes, how the post-NAR-settlement commission landscape works, and how listings are marketed.
- 04OffersWhat an offer actually contains beyond price, and how to read terms that matter as much as the number.
- 05Under contractHow inspections, appraisals, and title work feed into the closing timeline — and where deals commonly stall.
- 06 · You are hereClosing
- 07AfterCapital gains, the primary-residence exclusion, and what to track for next year's taxes.