Closing Day for Sellers: What to Bring, What to Sign, What You Net

After months of preparation, closing day itself is usually anticlimactic: an hour or two of signing, a stack of checks, and handing over keys. Here's what to expect so nothing surprises you.

Where and who

NYC closings typically happen at the buyer's lender's attorney's office (if financed), the managing agent's office (co-ops), or a law office. Remote and hybrid closings are increasingly common.

In the room: you and your attorney, the buyer and their attorney, the buyer's lender's attorney, a title closer (condo/house), the managing agent's representative (co-op), and often the agents.

If you can't attend, your attorney can close with a properly executed power of attorney — arrange this well in advance, and if you're signing abroad, build in time for notarization and any apostille requirement.

What to bring

Co-op sellers:

• Original stock certificate and proprietary lease (if lost, you'll need a lost-instrument affidavit and often an indemnity bond — arrange weeks ahead)

• Keys, fobs, garage remotes, mailbox keys, storage keys

• Photo ID

Condo and house sellers:

• Keys, fobs, remotes, alarm codes, manuals and warranties

• Photo ID

• Any documents your attorney requested (survey, permits, etc.)

Everyone:

• Wire instructions for your proceeds (confirmed verbally with your attorney — wire fraud is a real and persistent risk; never accept instructions that arrive by email alone)

• Your checkbook, for small unanticipated adjustments

• Forwarding address

What you'll sign

• Deed (condo/house) or stock power and lease assignment (co-op)

• NYC-RPT (city transfer tax return) and TP-584 (state transfer tax return) — signed under penalty of perjury

• IT-2663 if you're not a New York State resident (estimated income tax on the gain)

• FIRPTA certification (confirming you're not a foreign person) or, if you are, documentation of withholding

• Closing statement and various affidavits (title affidavit, smoke/CO detector affidavit for houses)

• Mortgage payoff and satisfaction documents

The money: adjustments and deductions

Your gross sale price is reduced by:

Adjustments (prorations) run in your favor or the buyer's:

• Maintenance or common charges — you're credited for the portion of the month after closing

• Property taxes — credited or debited depending on payment timing

• Assessments — per your contract; confirm who pays the balance

• Fuel/oil (houses) — buyer typically reimburses for the tank contents

When you get paid

Usually by certified or bank check handed over at the table, or by wire. If by check, deposit it the same day; funds availability depends on your bank. Wires typically land same-day if sent before cutoff.

If you're a nonresident or foreign seller, expect withholding to be deducted and remitted — those funds are recovered later through your tax return (or earlier, via an approved Form 8288-B). Plan your cash accordingly if proceeds are funding another purchase.

The week before

1. Final walkthrough — the buyer will inspect. Leave the apartment broom-clean and empty of everything not conveying. Disputes about leftover furniture on closing day are avoidable and embarrassing.

2. Cancel or transfer utilities, internet, insurance — effective the closing date, not before (you're liable until you close).

3. Schedule your move-out with the building; most require a reserved elevator, a certificate of insurance from your movers, and a move-out deposit.

4. Confirm wire instructions by phone with your attorney's office using a number you already have.

5. Confirm the payoff figure is current — payoff letters have expiration dates and per diem interest.

After closing

• Keep the closing statement permanently — it's the foundation of your capital gains calculation

• File your tax returns reflecting the sale; if you're claiming the §121 exclusion, know your numbers before April

• Notify the building of your forwarding address for any refunds (move-out deposit, maintenance overage)

• Confirm the mortgage satisfaction was recorded (condo/house) or the UCC-3 filed (co-op) — your attorney handles it, but verify

The one thing people forget

Bring every key and fob. Closings have genuinely been delayed over a missing laundry-room key. Gather them the night before.

This article is for general informational purposes only and does not constitute legal, tax, or financial advice. Closing practices vary by transaction. Consult your attorney and CPA. As of October 2026.

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