next month, in addition to any penalty for the delay. Although most sellers will work with you if the transaction does not close on time, failure to close opens the door to canceling the sale. This is most likely to occur in a seller’s market, in which the seller may have taken backup offers that are potentially better than yours.
#9. Be Present at a Walkthrough
A final walkthrough is a last chance to see your future house before you buy it. Commonly, it’s scheduled 5 days before the closure. The property should be in the condition it was the day the purchase agreement was signed. You may inspect for any changes made, if everything is in order and if all or any agreed upon repairs were made. In California the final walkthrough is non contingent and buyer is advised to follow up with closing even if there are changes in the property, which can be dealt with even after closing.
#10. Get Ready for Your Closing Day
Now you have run the escrow marathon and survived all the possible obstacles in your way. It’s finally time to sign the papers and get the keys to your new home. Make sure to file all the paperwork that you’ve collected during the process. This includes the title search and insurance, inspection reports, bank statements, home appraisal, checks of down payment closing costs, and prepaid interest. Before closing, if loan is involved, the buyer will sign all loan documents in front of a notary. Escrow will check prior to closing that all documents are signed. Documents such as:
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