G. M. Filisko, an attorney and award-winning author, is a lawyer. She is a frequent contributor to publications such as Bankrate, REALTOR Magazine and American Bar Association Journal. Her specialties include real estate, personal finances, and legal topics.

You should ensure that you walk away with all of the proceeds from the sale.

You may feel like you are done when you close on your home and can move into your new place. But not so fast. It is easy to lose a few bucks here, and mistakes can creep into closing documents there. All of this adds up to a lot of lost profits. These seven tips will help you spot money-losing issues.


1. TAKE SERVICES OUTSIDE OF YOUR NAME

Avoid any disputes with buyers following closing about fees or cable service that you have not discontinued. Get in touch with every utility or service provider to terminate or transfer service at your new address by the closing date.

You don’t have to pay for fuel for the new owner if you are on an automatic-fill program for heating oil and propane. To cancel your coverage on an old house, or to get coverage for a new one, contact your insurance company. You may also be eligible to receive a refund of your prepaid premium.


2. SPREAD THE WORD ABOUT YOUR CHANGE IN ADDRESS

Two to four weeks prior to closing, provide the post office your forwarding address. Notify credit card companies, publications subscription departments, family members, and financial institutions about your new address.


3. MANAGE THE MOVERS

Examine the estimate of your moving company. You should note the weight of your property if you are moving long distance. Long-distance moves are often charged according to their weight. Make sure the movers don’t add padding to increase the weight. Check with your homeowner’s insurance to see if you have coverage for your move. Most movers only cover what they pack.


4. DON’T DISTURB THE SETTLEMENT MATH

Employees of title companies are human beings, and they make mistakes. Check the math on your HUD-1 Settlement statement one day before closing.


5. REVIEW CHARGES ON YOUR SETTLEMENT STATEMENT

Are all mortgages paid off? What are the correct payoff amounts? Make sure you get any extras offered by your real estate agent, such as a reduced commission or a home warranty. Check to see if your title company or real estate agent added any fees that weren’t disclosed previously. Consult a lawyer if you are tempted to leave items out of the settlement statement.


6. SEARCH FOR MISSING CREDITS

Make sure that the settlement company correctly credits you for any prepaid expenses such as homeowners association fees and property taxes. You are entitled to a credit if you have prepaid taxes for the current year. Are you able to get credit for propane or heating oil left in the tank?


7. DO NOT LEAVE MONEY IN ESCROW

You can close your home sale without any unresolved issues. You should ensure that the title company releases any money in escrow and does not leave sales proceeds in an escrow that can be negotiated later.