POST CLOSING REMINDERS
Please consider the following post closing tips for Buyers and Sellers:
FOR BUYERS: POST CLOSING
1. Save a copy of your Owner’s Title Insurance Policy: Save a copy of the Owners Title Insurance Policy that you’ll receive from Heritage Title Company. This
should be stored for safekeeping, as you may need it in the future.
2. Make certain the property is rendered in the New Owners’ name:
It is the new owners’ responsibility to contact the County Appraisal District to make certain the
property is rendered in the current (new) taxpayers’ name(s). The title company does not undertake
this task. Please contact the County Appraisal District approximately one month after closing to ensure
the taxpayers’ name(s) has been updated.
3. File your homestead designation/exemption with the County Appraisal District:
If you have questions about your homestead exemption for property taxes, or any other such
exemption that may be available to you, please contact the County Appraisal District. The forms
required to apply for these exemptions are available online at no cost to the taxpayer. You may file for
property exemptions starting January 1st and must file no later than April 30th.
4. Contact your Home Warranty Company and evaluate coverage:
If you received a Home Warranty (also known as a Residential Service Contract) in connection with
your closing, be sure to contact the Home Warranty Company to ensure they have set up your
warranty. If you wish to add additional coverage, you may do so directly with the Home Warranty
Company.
FOR SELLERS: POST CLOSING
1. Cancel your homeowners insurance:
Once the deal has closed, funded, and you have moved all of your personal belongings from the home, you can cancel your homeowners insurance with your insurance agent. If you are remaining in the property after closing (in a leaseback scenario, for example), you should notify your insurance agent of this change.
2. Cancel your automated mortgage payment:
If applicable, be sure to cancel your automated payment for your house/mortgage with your lender.
3. If you receive a Tax Bill for the property you sold:
If you receive a tax bill for the property that you no longer own, refer to your closing statement and send the bill to the new owners. The title company does not receive nor send tax bills to new owners.
4. Retain your Closing Statement and 1099:
You will receive a copy of your Closing Statement and a copy of the 1099-S Form you completed at closing either at closing, or shortly after. Be sure to retain these documents for tax purposes and provide both to your accountant at tax time.
As always, THANK YOU FOR ALLOWING HERITAGE TITLE COMPANY THE OPPORTUNITY TO COMPLETE YOUR TRANSACTION.
WE LOOK FORWARD TO WORKING WITH YOU!
