Nail The Final Walkthrough Before Closing
By the time you get to the final walkthrough on your property, the home buying process is almost complete. However, it is still important to pay close attention to this final step, as it will be crucial in the success of your home purchase.
The final walkthrough is your last opportunity to ensure that everything in the home is in working order and that there are no potential problems waiting for you when you take over ownership of the property.
While conducting a final walkthrough of the property, give yourself enough time to look carefully at everything and not be rushed. You are looking for any new issues that might have arisen since the last time you viewed the home.
Once you close on the purchase the previous owners will not be obligated for fixing any damage. For this reason, you should schedule your walkthrough approximately 24 hours before closing on a home.
What You Should Look For?
When you are performing your walkthrough, here are some of the important issues that you should be watching out for:
- Are all major appliances in working condition? Do they all have their warranties and owner’s manuals?
- Do all of the light switches and outlets work?
- Have any of the fixtures or appliances gone missing, even though the seller agreed to leave them behind?
- If you have agreed on any repairs, has the seller had these repairs completed?
- Are there any signs of damage (i.e. scratched walls or floors) as a result of the previous owner moving out?
- Do all of the water faucets and toilets function as they should?
- Check the exterior of the house, especially if there has been a storm or strong winds since your last visit.
- Did the previous owner leave any garbage, extra furniture or unwanted items behind?
What To Do If You Spot A Problem?
If you find a problem when you are going through your walkthrough, there are a few options of what you can do. If the issue is very serious, you might choose to walk away from the deal completely. However, if the issue is not that significant you might decide that it is not worth losing your dream home over.
You could simply pay for the repair yourself, or postpone the closing until the seller fixes the problem. If the repair was agreed upon during the negotiations, you have a legal recourse.
To find out more about buying property, feel free to contact your trusted real estate professional.
For help or questions contact:
Senior Loan Consultant - NMLS #126036
GMH Mortgage Services, LLC
625 W. Ridge Pike, Building C, Suite 100 | Conshohocken, PA 19428 | Direct: 610-355-8039 | Cell: 610-739-6563