Final Walkthrough and Closing Day

Final Walkthrough and Closing Day – The Finish Line of Buying a Home

You’ve made it through the ups and downs of house hunting, inspections, and loan approvals now it’s time for the final stretch! The Final Walkthrough and Closing Day is where all your hard work pays off. This is the last step before you officially become a homeowner, and while it’s exciting, it’s also important to stay focused. Let’s walk through what happens during this final phase of your home-buying journey.

What Is the Final Walkthrough?

The final walkthrough is your last chance to look at the home before closing. It usually happens within 24 to 48 hours before closing day. The goal is to make sure the home is in the same condition as when you made your offer and that any agreed-upon repairs have been completed.

Think of it like checking your order before leaving the drive-thru window you just want to be sure everything is right before it’s officially yours!

What to Check During the Final Walkthrough:

✅ Repairs: Confirm that all repairs requested after the inspection were done properly.
✅ Appliances: Make sure all appliances that are included in the sale still work.
✅ Lights and outlets: Test all light switches and electrical outlets.
✅ Plumbing: Run faucets, flush toilets, and check for leaks.
✅ HVAC system: Turn on the heating and air conditioning to ensure they’re working.
✅ Doors and windows: Open and close each one to check locks and functionality.
✅ Cleanliness and condition: Verify that the seller left the property clean and empty, unless other arrangements were made.

If you find something that isn’t right like an unfinished repair or damage that wasn’t there before your agent will work quickly with the seller’s agent to fix the issue before closing.

What Happens on Closing Day?

Closing day is the grand finale of the home-buying process. It’s the day when all the legal and financial details are finalized, and you officially become the owner of your new home! 🎉

Here’s what you can expect:

1. Reviewing and Signing Documents

You’ll meet with your real estate agent, lender, and closing agent (or title company) to sign several documents. These include:

• The closing disclosure, which breaks down all your final loan terms and costs.
• The deed, which transfers ownership of the home to you.
• The mortgage note, which outlines your loan repayment agreement.

It may feel like a lot of paperwork, but your agent will help explain each part so you know exactly what you’re signing.

2. Paying Closing Costs

You’ll also need to pay closing costs, which typically range from 2% to 5% of the home’s purchase price. These costs cover things like lender fees, title insurance, property taxes, and escrow services. Some buyers bring a certified check, while others pay by wire transfer.

3. Receiving the Keys

Once all the documents are signed and the funds are transferred, the home is officially yours! The title company records the sale with the county, and then comes the best part you get the keys to your new home! 🏡🔑

Tips for a Smooth Closing Day

💡 Review your closing disclosure early. You’ll receive it at least three days before closing. Review it carefully and ask questions about anything that seems unclear.

💡 Bring the right documents. You’ll need a government-issued photo ID and proof of your wire transfer or cashier’s check.

💡 Do one last check. If you haven’t done your final walkthrough yet, do it right before the appointment.

💡 Stay calm and patient. Closings can take an hour or more, so bring your favorite coffee and remember it’s all worth it!

Final Thoughts

Closing day is one of the most exciting moments in your real estate journey. It’s the day all your planning, saving, and decision-making comes together. By paying attention to details and staying organized, you’ll walk away not just with a set of keys, but with the peace of mind that your new home is exactly what you expected.

So take a deep breath, smile for that “Just Closed” photo, and get ready to start your next chapter. Welcome home!

Now that you know all about the ninth step in the home buying process, let’s move on to #10! To see the whole 10 step process check out our blog article: The 10 Steps to Buying a Home.

If you enjoyed Conducting Inspections and Appraisals, make sure to check out ERA Liberty’s other blog articles. We blog about all things real estate, local eats, and happenings in and around our community.

For all your home buying or selling needs, ERA Liberty Realty is always there for you! We are here to help you no matter where you are, we have agents licensed in West Virginia, Virginia, Maryland, or Washington DC! Reach out today to get your real estate journey started!