4 Things to Check on Your Final Walk-through

 

The final walk-through of your new home is an exciting event. It means you have successfully maneuvered through negotiations, inspections, and financing approval, and are on the verge of signing your closing papers. Most buyers attend the final walk-through with thoughts of furniture placement and paint colors in their heads. But the walk-through is about more than just making sure your favorite chair will fit by the fireplace. Be sure to do your due diligence to make sure there are no issues that should be resolved before you reach the closing table.

 

The purpose of the final walk-through is to ascertain that the home is being conveyed to you in the same condition it was when you agreed to purchase it. It’s usually scheduled for the day before closing, but some real estate agents may ask that you do it as early as two days before closing. It’s a good idea to schedule this appointment as soon as possible after signing your purchase contract, so you have time to address any issues that arise during the walk-through.

 

• Make sure no damage has occurred to the home that the sellers are responsible for repairing. Weather conditions or careless movers can cause accidental damage, and old and forgotten damage may be uncovered when the sellers’ belongings are removed.
• Check that appliances are still in working order and no new plumbing or electrical issues have popped up. While you aren’t doing a complete home inspection, you can visually check for obvious problems that should be repaired before you move in.
• Confirm that items contractually conveying are present. If the sellers agreed to leave particular furniture, décor, or equipment, see that it has not been removed.
• Make certain the sellers have removed all their belongings. You don’t want to arrive with the moving truck only to find out that the sellers left behind an assortment of unwanted furniture or trash. The sellers should be held responsible for removing everything that doesn’t convey with the sale.

 

In a perfect world, buyers would always go do the final walkthrough to find the home in great condition, with the seller having repaired everything they said they would. And while it’s often the case that the final walkthrough goes smoothly, it’s possible that buyers will find problems.

 

There are a few different options available to you if you find problems, and which you choose is likely to depend on the severity of the issues. Here are some of them:

 

• For a minor issue, ask the seller to fix it before the closing.
• Delay the closing so the seller has time to fix the problem.
• Withhold money from the seller’s proceeds in an escrow account to pay for the repairs after the closing.
• In extreme circumstances where there’s major damage to the home or an expensive fix that the seller refused to repair, you may have to either walk away from the sale or take legal action.

 

The final walkthrough is your last chance to spot problems with your home and ensure the seller has finished all repairs. Don’t skip anything on your final walkthrough checklist, and if you find any problems with the home, consult your real estate agent to decide on the best course of action.

 

That said, it’s important to remember that there will always be things you want changed or updated in your new home and it’s not reasonable to expect the seller to make every single desired upgrade. You should certainly expect to undertake some home improvement projects on your own after you officially buy the house. If there are projects that are beyond the scope of your experience, plan to get a quote or advice from an expert.