Closing on Your Mortgage: Understanding the Walk-Through and How to Ensure a Smooth Process

If you are in the process of purchasing a home, you will eventually come to the home mortgage closing, which is the final step in the transaction. During this process, you will sign a number of legal documents and pay any remaining closing costs, and you will receive the keys to your new home. Before you sign on the dotted line, it is important to understand the walk-through process and what you should look for to ensure that your new home is in the condition you expected.

walk through

What is a Walk-Through?

A walk-through is typically scheduled within 24 hours of the home mortgage closing. The purpose of the walk-through is to ensure that the property is in the same condition as it was when you made your offer, and that any repairs or agreed-upon changes have been completed. It is also an opportunity to make sure that all appliances, light fixtures, and other items that were included in the sale are still present and in working order.

What to Look For During the Walk-Through

During the walk-through, you should check the condition of the property to ensure that there are no unexpected surprises. Here are some of the things you should look for during the walk-through:

Condition of the Property

You should check the condition of the property to make sure that there are no new damages that were not there during your home inspection. Look for any signs of water damage, leaks, cracks, or other issues that may have arisen since you last saw the property. If you do find any issues, make sure to bring them to the attention of your real estate agent or the seller’s agent as soon as possible.

Appliances and Fixtures

Check that all the appliances and fixtures are present and in working order. This includes items such as the stove, refrigerator, dishwasher, and any other appliances that were included in the sale. Make sure that the heating and air conditioning systems are working properly, and that all light fixtures and electrical outlets are functioning as they should.

Plumbing

Check that all faucets and toilets are working properly, and that there are no leaks in the plumbing. Run the water in all sinks and showers to ensure that there is good water pressure, and that the hot water is working as it should.

Windows and Doors

Check that all windows and doors are in good condition and are functioning properly. Make sure that they open and close easily, and that there are no cracks or other damage.

Walls and Floors

Check the walls and floors for any damage, such as scratches or scuffs. If there are any areas that need to be repaired, make sure to bring them to the attention of your real estate agent or the seller’s agent.

Other Items

Make sure to check other items that were included in the sale, such as blinds, curtains, and any other fixtures. Check that they are in good condition and functioning as they should.

What to Do if You Find Issues During the Walk-Through

If you find any issues during the walk-through, it is important to address them as soon as possible. You should bring them to the attention of your real estate agent or the seller’s agent, and ask that they be resolved before you sign the final paperwork. If there are any major issues that cannot be resolved, you may need to delay the home mortgage closing until they can be addressed.

TL;DR The walk-through process is an important part of the home buying process, as it allows you to ensure that the property is in the condition you expected before you sign the final paperwork. By knowing what to look for during the walk-through, you can ensure that you are getting the home you paid for, and that you will be happy with your purchase for years to come.

Updated: February 21, 2023 at 10:41pm

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