Carol Sloop, Professional REALTOR® with CENTURY 21 Bob Capes Realtors in Columbia, South Carolina
Carol SLoop, REALTOR® serving Columbia, South Carolina and surrounding areas. Search Homes for Sale in Columbia, SCInformation for Home SellersBuying a home.Columbia, SC area dining, night life, sports, and more.Mortgage Center and Loan TypesClosing on a home.Contact Information
Closing Tips . . .

Getting into the house ahead of the closing
Ideally, buyers shouldn't take possession of their new homes until the sale has closed. Whenever possible, postpone the move until the last-minute problem has been sorted out. In busy real estate markets, it may not be possible to reschedule professional movers late in the game. As a last resort, the buyer can ask the seller for permission to occupy the property before the closing and, if the seller is agreeable, an addendum should be drawn up indicating the terms and conditions under which the buyer can move in early. An interim occupancy agreement should also be signed by the buyer and seller, and the buyer's personal property and liability insurance should be in.

Walking through the last step
A final walk-through provision gives the buyers the right to inspect the property prior to closing. This allows the buyers an opportunity to confirm that the property is in the same general condition as it was when they agreed to purchase it. A walk-through can also be used for the purpose of assuring that the sellers have completed repairs they agreed to do, or that any construction work has been completed.

Take the time for a walk-through
Not all buyers complete a final walk-through inspection. Some operate on good faith that the sellers will comply with the terms of the contract and deliver a house that has been maintained, is free of debris and broom-clean. But if you've ever heard a horror story of buyers taking possession of a house that's a shambles, you'll want to exercise your right to do a final inspection.

Close your eyes and breathe
The first thing to do when you hear that your closing isn't going as scheduled is to stay calm. Be sure that your agent informs all parties involved in the transaction that there is an unavoidable delay. Get a written extension of the closing if it will be postponed for longer than 24 hours. The last thing you should do, no matter how frustrated you feel, is call the loan processor directly to complain. Let your loan agent handle the problem if it's related to your loan.

The Final Walk-Through: Not A Way Out Of A Contract
A buyer completes a final walk-through inspection before closing to confirm that the property is in substantially the same condition as it was when the purchase contract was negotiated. If the seller agreed to complete repairs as a part of the purchase agreement, a final inspection enables the buyers to verify that the work has been done.

The final walk-through also gives the buyers the opportunity to confirm that the seller's personal belongings and debris are being removed from the property; that tenants have vacated; and that appliances the seller agreed to leave with the property haven't been moved out by accident.
The final inspection is usually a buyer's right but it's usually not a contingency in the contract. This means that buyers can't use the walk-through as a means of backing out of the contract at the last minute.

The walk-through should be completed far enough in advance so that the sellers have time to remedy any problems. Ideally the final inspection should be done within 7 days of closing.

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