Selling Your Memphis Home: What to Expect from Contract to Close

Once you accept an offer, the clock starts. Here’s what Memphis sellers can expect between signing the contract and handing over the keys.

Step 1: The title company opens your file

Your agent sends the contract to the title company. You’ll receive an invitation to a secure portal and a seller information sheet asking for your loan details, HOA information, forwarding address, and marital status.

Step 2: Title search and payoffs

We search the property records and request payoff statements from your mortgage lender and any other lienholders. If there’s a home equity line, it must be paid off and closed so it can’t be drawn again.

Step 3: Inspections and repairs

The buyer completes inspections and may request repairs. Keep receipts for completed work — they’re often needed before closing.

Step 4: Reviewing your settlement statement

A few days before closing, you’ll receive your estimated settlement statement showing the sale price, payoffs, commissions, prorated property taxes, any seller concessions, the Tennessee transfer tax if you agreed to pay it, and your estimated net proceeds.

Step 5: Closing day

Bring a valid photo ID for everyone on the deed. You’ll sign the deed, affidavits, and the settlement statement. Many sellers sign ahead of the buyers or through a mail-away package if they’ve already moved.

Step 6: Getting paid

Proceeds are disbursed after the buyer’s funds are received and the lender authorizes funding — often the same day in Tennessee. Your bank details should be collected through a secure, verified process, never by email.

Seller tips

• Tell us early about estates, divorces, liens, or name changes.
• Leave all keys, openers, and codes for the buyer.
• Don’t cancel homeowners insurance or utilities until after closing.
• Want to know your bottom line before listing? Ask for a free seller net sheet.

Related: Mortgage Calculators · Closing Services · Escrow Services

This article is general information, not legal, tax, or financial advice. Every transaction is different — consult your attorney, lender, or tax professional about your situation.