Escrow Doesn’t Mean the End of the Buying or Selling Process

Escrow Doesn’t Mean the End of the Buying or Selling Process

Buying or selling a home can feel like a never-ending process. While it is natural to want to skip to the finale, it is important to know that simply closing escrow does not mean all the work is done.

You can take comfort in knowing that what comes next is far simpler than the process up to this point. Here is a quick list of things to take care of once you know that home is yours!

Change Your Address

This seems like a no brainer but is often put on the back burner for new homeowners or those finding a new home. The USPS (the people that put the mail in your box) is kind enough to offer mail-forwarding service for a certain period.

Log in to any accounts you may have with magazine subscriptions, delivery services, and Amazon to make sure your address if officially changed on your profile. If you are old school and keep an address book, consider sending a notification to your most important contacts to inform them of your new address.

Get an Updated Driver’s License

This is a law and unfortunately, many people neglect to obey it. The DMV in almost every state is a hassle but your ID becomes invalid after 30 days (in most cases) of an address change. 

This step is especially important when it comes time to vote or travel by air. 

Notify the Utility Companies

You will likely want water, power, and sewer services at your new home. Cable and telephone may be important to you, as well. Once you have officially closed, contact these entities to alert them of your ownership.

Contact Your Financial Institutions

Your bank, credit card companies, and any retirement or investment funds should be made aware of your new address immediately after closing. This will ensure any important notifications are sent to your home, as many are time-sensitive.

There! That wasn’t so hard. Take care of these things as soon as you close escrow, rather than putting them off and forgetting about them.

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