swamitherealtor

After months of hunting your dream home and with tiering paper works its the one last thing you need to do before the home is officially yours is final walkthrough. This is the final step in the sale process and the last opportunity for you to have a walkthrough with your agent and sellers agent before you buy the property. This step is critical because one you sign the paper work, then the property is yours officially. Since the property is officially yours at this time you cannot go back to your agent or seller with any additional questions or any repair requests.

Few industrial experts may say a final walkthrough is not required because you already signed the papers and the transaction was processed. To me at this stage the transaction is processed but not complete. I’d highly recommend having a final walkthrough to make sure the home that you’re buying is the home what you’ve seen. Not all but there are few scenarios where a water damage or even a broken wall due to a tree fall or moving furniture out might have happened from the time you’ve seen the house and you close on the property. At this point it’s the sellers responsibility to have the house in the same condition during the showing. This can be confirmed in the final walkthrough.

My intention is not to scare any one of you with my article but as a realtor I feel its my responsibility to make your aware the importance of the final walk- through. A good real estate agent will share you as what to look for and what to ask for in the final walkthrough making sure every penny that you’re putting on the property is going to be worth.

What Is a Final Walkthrough? 

If you’ve purchased a home in the past or in the market as a first time buyer then I believe you’ve completed or at least familiar of the home buying process which includes attending showing, writing an offer, offer acceptance, loan process, inspection and finally closing. As I mentioned above its the sellers responsibility to maintain the home same as during the showing unless otherwise agreed upon written purchase agreement. The final walkthrough is the final step to ensure this before you sit for closing.

Now you may’ve a question – then what’s the whole purpose of having an inspection done? A home inspection is an option that a buyer can have a professional check for necessary repairs. This helps the buyer to negotiate with the seller to either fix them before selling or compensate for the same if it’s a minor repair. In case if it’s a major one like water damaged basement, crack in foundation or mould spread across the attic, it gives an opportunity for the buyer to back out from the deal.

After your offer is accepted typically the process starts with inspection but that doesn’t mean its replacing final walkthrough. Final walkthrough ensures that the property condition is the same as what you’ve seen during the showing and agreed on the purchase agreement.

Normally home buying process may take anywhere from 30 days to 45 days. Their is a lot that can change in this period with the property. Final walk- through gives you one last chance to confirm that the property is same as seen during showing or better as agreed in purchase agreement.

Mostly you may see the closing is schedule in the morning so you may think you don’t have enough time for final walkthrough. Don’t worry most seller allow a 30 min to an hour for your final walkthrough. Based on the state where you live can determine your final walkthrough as well. Few states allow same day closing and few well in advance for final walkthrough.

I’d highly recommend to bring your realtor along for the final walkthrough, just a second pair of eyes to check things.

What to Look for During the Final Walkthrough 

Typically two things to look for during your final walkthrough

1. Is the property maintained in the same condition as it was during the showing.
2. Are the repair or upgrades that were agreed in the purchase agreement is complete.

Upon checking the above said then it’s time to check the presence of any appliances, window treatments, furniture and so on that the seller agreed to leave behind at the time of sale as agreed in purchase agreement. At times the seller might’ve decided to take the newly upgraded washer and dryer and replace with lesser quality one make sure that’s in the standard as agreed on the purchase agrement.

This is not only a time for you to check for the things that needs to left behind but it’s also time for you to make sure the seller takes things not agreed in the purchase agreement. Mostly old paint cans, some stuff in garage are not acceptable.

Now the important things to look during the final walkthrough:

• Check for any leaks if possible turn on all taps including dish washer and washer.
• Check cooling and heating is turn on according to the temperature you set in thermostat.
• Check the windows and doors for proper opening, closing and locks on them.
• If the home as a swimming pool make sure all equipments work as expected.
• Check for garage door open and close and ensure the remotes for them are left behind

Post Final Walkthrough 

Now you’ve completed the final step before signing the papers and making the home yours officially. During your final walkthrough if you’ve found that any repair or upgrade was not done or complete as agreed in purchase agreement or any new damage you’ve seen this is the time to ask for a credit during the closing since the time left out is very very short.

On the other hand during your walkthrough if everything looks good, as expected and agreed by both parties, then its time for you to get ready for your closing day where you sign the papers officially and make the home your’s officially. Congratulations to you on your new home.

If you’re looking for a real estate agent for your buying or selling need. Please feel free to reach out to me at swamitherealtor@gmail.com

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