WAIT FOR THE MAGIC WORDS
There are no three words that sound sweeter than “Clear to Close.” Those three little words mean that all the hoops have been jumped through, all the paperwork is done and the only thing you’re waiting for is your time at the closing table. Crunch time is over, you can breathe easy again (but still refrain from dipping into those credit lines or getting new ones!). Time to schedule the final walkthrough.
The final walk-through in real estate was designed so that the buyer can be sure the home is in the same condition as when they made their offer and had the home inspected. Its also an opportunity to make sure the seller has actually vacated. From time to time, a buyer and seller will have negotiated any number of fixes during escrow. The walk-through gives the buyer a chance to make sure all the agreed-upon work has been done to specifications, and that everything is in working order.
Sometimes, buyers are so excited to close that they quickly whisk through the walk-through without taking time to inspect the property. This can lead to small issues once the buyers take ownership. On the other hand, the final walk-through can raise both positive and negative emotions during this final part of the sale process.
Buyers often fall in love with a home that’s full of furniture, art and belongings. They see it as a home, and remember a warm feeling. Fast-forward to the close of escrow and you’re faced with an empty home, which can feel cold, sterile or hollow.
The journey toward homeownership is often a long one, filled with lots of excitement and ups and downs. The final walk-through is one of the very last steps of what could be a multiple-year process. Consider the walk-through in advance and prepare for it mentally, emotionally and physically. Know what you want to look for, have a checklist, and keep your emotions and feelings in check. Doing so will make for a smooth ride to the close of escrow.