The process of buying a home is a momentous journey marked by a series of significant milestones. From securing a home loan to making an offer and navigating inspections, each step is important. However, a frequently underestimated phase in this process is the final walkthrough. A final walkthrough is the last opportunity for a buyer to inspect a property before closing the deal. It allows you to ascertain that the home you are about to purchase aligns with your expectations and that no unpleasant surprises await you once the keys are in hand.
When to Conduct a Final Walkthrough
The final walkthrough often takes place within 24 hours of the scheduled closing date. While the primary purpose of this step is to confirm that the property's condition matches the state it was in when the offer was first made and that any agreed-upon repairs or alterations have been successfully executed, it fulfills several other critical roles.
Why a Final Walkthrough Is Important
First of all, it allows buyers to verify that any personal property included in the sale is present and in good condition. This helps prevent misunderstandings and disputes after the sale is finalized. It also ensures that any items the seller agreed to remove are gone.
Secondly, the final walkthrough gives buyers an opportunity to inspect any repairs or maintenance tasks that were part of the purchase agreement. For instance, if the home inspection revealed issues that needed attention, the buyer can confirm that the repairs have been made properly. This step helps keep disputes from arising for unfinished or substandard work.
Another part of the final walkthrough is to check that all systems and appliances in the home are in good working order. Identifying issues at this stage gives the buyer a chance to address them with the seller before closing.
Moreover, the final walkthrough provides an opportunity to make sure that the property is clean and in a satisfactory state. If the property does not meet the agreed-upon condition, the buyer can negotiate with the seller to rectify these issues before proceeding with the closing.
What to Bring to Your Final Walkthrough
Be sure to have a copy of your purchase agreement, any addendums and the home inspection report with you during the walkthrough. This will help you reference the agreed-upon terms and repairs.
Prepare a comprehensive checklist, outlining all the aspects you should examine during the walkthrough. This could include appliances, fixtures, the condition of the property and any agreed-upon repairs. Having a final walk through checklist will ensure all important features are covered.
Your specific situation may require additional items depending on the terms of your purchase agreement and the property's unique characteristics. Your real estate agent and, if necessary, a home inspector can help prevent the oversight of any vital details.
What to Look For During Your Final Walkthrough
Here's a general checklist of what to look for during this step of the homebuying process:
General property condition
- Make sure the property is vacant and broom-clean as agreed upon.
- Check that all property included in the sale (e.g., appliances, fixtures, window screens) is present and in working condition.
- Verify that any items the seller agreed to remove are gone, such as debris or unwanted furniture.
Repairs and maintenance
- Inspect any repairs or maintenance tasks that were part of the purchase agreement (as stated in the home inspection or negotiation). Ensure that they’ve been completed satisfactorily.
- Test all major systems and appliances (e.g., heating and air conditioning, plumbing, electrical systems, and kitchen appliances like the garbage disposal) to ascertain that they are in good working order.
- Check for any signs of water damage, leaks or plumbing issues.
- Inspect the roof, siding and windows for damage or issues.
- Look for any structural issues or foundation problems.
- Verify that any previously arranged pest control or termite treatments have been completed.
- Ensure that the property is free of mold or mildew issues.
Utilities and services
- Check that all utilities (water, gas, electricity) are in working order.
- Test the water pressure in all the faucets and toilets, and check for any plumbing issues.
- Verify that the electrical outlets and light switches function properly.
- Check that the internet, cable and telephone connections are working.
Interior and exterior
- Inspect walls, ceilings and floors for any damage or issues.
- Check that doors and windows work smoothly and lock securely.
- Look for signs of leaks, water stains or discoloration on walls and ceilings.
- Test all lights, ceiling fans, exhaust fans and electrical fixtures to ensure they are working.
- Check for any broken or cracked windows or glass.
- Inspect the condition of the garage door and any remote garage door openers.
- Examine the condition of the landscaping, driveways, walkways and outdoor structures.
- Look for signs of drainage or grading issues around the property.
Safety features
- Inspect smoke detectors and carbon monoxide detectors to confirm their functionality.
- Verify that all safety railings and handrails are secure.
- Make sure there are no trip hazards on stairs, walkways or pathways.
Don't rush the walkthrough. Dedicate a few hours to thoroughly inspect the property and make note of any concerns or discrepancies. If you notice any issues during the walkthrough, let the seller or the seller's real estate agent know. Discuss your concerns or discrepancies and negotiate potential solutions.
The final walkthrough is a critical opportunity to ensure that your future home aligns with your expectations, and it's your last chance to address any discrepancies before closing the deal. By completing this step, you can feel confident about stepping into your new home, knowing that the property is in the condition you expected and that all necessary steps have been taken to protect your investment. So, be prepared, be thorough and be vigilant during the final walkthrough, as it's the last bridge to cross before unlocking the door to your new dream home.
If you have any questions about the final walk through or how it can impact your mortgage loan, reach out to your local Premier Mortgage Resources loan officer today; we're here to help.
