What must be confirmed during a pre-closing walkthrough inspection?

What must be confirmed during a pre-closing walkthrough inspection?

• A. Loan approval status
• B. Sellers have vacated the property
• C. Listing price details
• D. Property tax payments

Answer: (B)

During a pre-closing walkthrough inspection, it is essential to confirm that the sellers have vacated the property. This step is crucial in the closing process as it ensures that the buyer is receiving the property in the agreed-upon condition, free of the seller's belongings. The buyer should verify that the property is empty and that any necessary repairs, cleaning, or agreed-upon modifications have been completed. This inspection acts as a final opportunity for the buyer to assess the property before ownership is transferred. Other aspects such as loan approval status, listing price details, and property tax payments are important processes in real estate transactions but are generally addressed prior to the walkthrough. The walkthrough specifically focuses on the condition and status of the property itself, making the confirmation that sellers have vacated a priority to ensure a smooth transition of ownership.

During a pre-closing walkthrough inspection, it is essential to confirm that the sellers have vacated the property. This step is crucial in the closing process as it ensures that the buyer is receiving the property in the agreed-upon condition, free of the seller's belongings. The buyer should verify that the property is empty and that any necessary repairs, cleaning, or agreed-upon modifications have been completed. This inspection acts as a final opportunity for the buyer to assess the property before ownership is transferred.

Other aspects such as loan approval status, listing price details, and property tax payments are important processes in real estate transactions but are generally addressed prior to the walkthrough. The walkthrough specifically focuses on the condition and status of the property itself, making the confirmation that sellers have vacated a priority to ensure a smooth transition of ownership.