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πŸ“Œ The Closing Process in Puerto Rico – What Sellers Should Expect

29 Jan, 2025

Selling a home in Puerto Rico? The closing process can feel overwhelming, with multiple legal steps, paperwork, and coordination required. At Puerto Rico Real Estate, PSC, we handle all the details, ensuring a smooth, stress-free closing. Here’s what sellers should expect during the closing process.
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πŸ“Œ The Closing Process in Puerto Rico – What Sellers Should Expect

🏑 Understanding the Closing Process in Puerto Rico

Selling a home doesn’t end once you accept an offer. The closing process is a crucial final step, ensuring all legal, financial, and contractual requirements are met before handing over the keys.

At Puerto Rico Real Estate, PSC, we simplify this process for our sellers, handling paperwork, legal requirements, and coordination to ensure a smooth and successful transaction.


πŸ“Œ Step-by-Step Guide to Closing a Home Sale in Puerto Rico

1. Offer Acceptance & Initial Steps

Once you accept an offer, the closing process begins.
βœ” Purchase agreement is signed
βœ” Earnest money deposit is collected from the buyer
βœ” Contract is reviewed by legal representatives

We ensure that all terms are clear and protect your interests.

2. Title Search & Legal Verification

The buyer’s attorney or lender will conduct a title search to confirm:
βœ” The seller has legal ownership of the property
βœ” There are no outstanding liens, debts, or legal issues

How We Help:
βœ” We work with title professionals to ensure everything is in order
βœ” If any issues arise, we help resolve them quickly

3. CRIM & Tax Clearance

Before closing, sellers must provide:
βœ” Property tax clearance certificate (CRIM)
βœ” Up-to-date municipal tax payments

We assist in gathering these documents to prevent any delays.

4. Home Inspections & Appraisal (If Applicable)

If the buyer is financing the purchase, their lender may require:
βœ” A home inspection to assess property condition
βœ” An appraisal to verify property value

If any repairs are requested, we help negotiate solutions to keep the deal on track.

5. Capital Gains Tax & Financial Settlements

βœ” Sellers may owe capital gains tax, depending on the property’s appreciation
βœ” Closing costs are calculated, including legal fees, realtor commissions, and taxes

We guide sellers in understanding potential costs and tax implications.

6. Final Walkthrough & Closing Day

βœ” The buyer does a final walkthrough to verify property condition
βœ” Closing documents are signed at the attorney’s office
βœ” The funds are transferred, and ownership is legally transferred

How We Make It Easy:
βœ” We coordinate every detail, so you don’t have to worry
βœ” We ensure a smooth handover of the property


πŸ“Œ How Puerto Rico Real Estate, PSC Ensures a Stress-Free Closing

At Puerto Rico Real Estate, PSC, we handle all aspects of the closing process, so you can focus on your next move.

βœ… Our Closing Assistance Includes:

βœ” Managing legal paperwork to ensure compliance
βœ” Coordinating with attorneys, title companies, and CRIM offices
βœ” Resolving potential delays quickly
βœ” Ensuring smooth funds transfer & final handover

With us, you can close with confidence and avoid unnecessary stress.


πŸ“ž Contact Puerto Rico Real Estate, PSC Today!

Selling your home? Let Puerto Rico Real Estate, PSC handle the details for a smooth, stress-free closing.

πŸ“ž 787.244.6364
βœ‰ [email protected]
🌐 www.ThePuertoRicoRealEstate.com

 

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