The “clear to close.”  Of all the jargon you will hear this phrase has a nice ring to it.  It says you have made it through the underwriting process: your lender has verified your income, assets, debt, property details, credit scores, etc. etc. and issued the final approval on your loan application.

You can move forward with closing on your new home!  At this time your closing location, date and time is normally confirmed.  We can schedule the final walk-through of the property, which is normally the day before or day of closing.

What is the purpose of the final walk-through?  You may have not seen the home for weeks at this point.  The final walk-through is to calm your nerves, make sure the property is in the same condition as it was at the inspection.  It is NOT another inspection and should take 15-45 minutes.

What are the most important things to check?

Verify that any repairs promised have been completed.

Check appliances included in the sale are working properly.

Check all items included in the sale are still present.

Any changes to the condition of the property.

Seller left information, warranties, instructions.

As tempting as it may be, the final walk-through is NOT a time to invite family and friends to check out your new home.  Among other things, you are not the owner just yet.

What happens if you find a problem or violation of your purchase agreement?

It does not happen often and it does not have to be a deal breaker.  And it does not necessarily mean the closing needs to be delayed.  This close to the finish line, sellers are normally motivated to make things right.

On to Step 20: Closing Day

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