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Final Walk-Through/Closing


Step 8

Final Walk-Through

The walk-through allows for the purchaser to conduct a final walk-through inspection prior to closing. This inspection is best performed after the seller has vacated the property. We will arrange this time/date close to the date of closing.

The purpose of the walk-through is:
  • To be sure that all included appliances, HVAC and plumbing, are in working order. Make sure to test all appliances, and run water from all water sources to check for leaks.
  • To ensure that the property is free and clear of debris, broom clean, and in the same condition as the date of the contract.
  • To ensure that any contractual obligations have been met.
Paying for Repairs
Since lenders normally forbid the creation of an escrow fund to allow for repairs not made prior to settlement, it may be possible—with the mutual agreement of the seller and the buyer—for the seller to credit to the buyer an amount that allows for the buyers to make the repairs themselves at a later date. This should be arranged prior to settlement taking place.

Step 9

Close

Prior to the Meeting
  • Resolve walk-through issues. Any monetary issues arising from your walk-through need to be resolved before the final Closing Disclosure (CD) can be prepared. We will attempt to resolve these prior to closing but, if not, these must be discussed before anything else takes place.
  • Review the CD settlement statement. Together, we will review the statement to be sure that all charges and credits are the correct amounts and charged to the proper party.
  • Review sample settlement documents.  If you are going to want to read all the documents prior to signing, please do so prior to settlement by either arriving early or making arrangements to receive a sample set.

Important Things to Understand about Closing Days
Closings are typically scheduled every hour so please allow for one hour in order to complete the process. Late in the day settlements are often delayed so do not be surprised if your 3:00 PM settlement doesn’t start until 3:30 or even 4:00 PM. Additionally, if you go to closing after 1:00 PM, please know that your home may not record (and you may not be able to take possession of it) until the FOLLOWING BUSINESS DAY.

Avoid Friday settlements when possible. A Friday settlement often leads to a late recording, which cannot take place over the weekend and must then wait until Monday. If you plan to have access to your home over the weekend, schedule an earlier settlement to allow for unexpected delays.


Step 10

Congratulations -  Enjoy Your New home!

We will follow up with you after you have moved into your new home to make sure all is well.  Our goal is to gain your respect and become your Realtor for life!  We love referrals and welcome the opportunity to help your friends and family with their real estate needs.   Look for a request for a Zillow or Trulia review from us as well as a Coldwell Banker Burnet survey to let us know how we did.