Clear to Close and Final Walkthrough
A few days before the closing date, the buyer should receive Clear to Close from their mortgage lender. This means the buyer’s financing is officially approved, and the attorneys can now proceed with finalizing the closing date, time, and location.
Final Walkthrough:
Once a closing date, time, and location are scheduled by the attorneys, the buyer’s Realtor will arrange the final walkthrough of the property. This typically happens the day before closing. The final walkthrough serves as an opportunity for the buyer to ensure the property is in the same condition as it was when they initially made the offer and that any agreed-upon repairs have been completed.
In New York City, it’s also crucial to remember that all fixtures and attached items, such as light fixtures, curtain rods, shelves, and appliances, are typically required to stay with the property unless otherwise negotiated. The final walkthrough is when the buyer will confirm that these items are still in place.
Pre-Signing Documents:
Once the closing is scheduled, it’s time to contact your attorney to arrange for pre-signing of all necessary documents. In NYC, sellers do not typically attend the closing in person, so pre-signing is essential. Your attorney will coordinate with you to have everything ready ahead of time.