Jul 1, 2021
Today we are discussing the walk-through. What it is and what to look out for. So it’s the day of or the day before your closing, you’ve been approved and you’re ready to own that home but we still have the walk-through. It’s the last chance to look at the property and make sure everything is in working order before you empty out your bank account and own that home.
The walkthrough is when you check that everything, appliances, drains, electrical outlets, etc, are in working order. If something isn't working you can always have money held in escrow until it's fixed or you can get a credit. There is a benefit to putting money in escrow as then you can still close on the property. Worst case scenario, the closing is postponed until everything is fixed.
Do the walk-through either the night before or the morning of the closing. Once you close, you have no recourse, so this is your last chance to make sure everything is right.
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