Why do we do a Final Walk through

Why do we do a final walk through?

You are getting ready to go sign on your new home and your agent asks if you would like to do a final walk through. There are many reasons why you should consider having a final walk through.

A final walk-through is an inspection performed anywhere from a few minutes an hour, a few days before the settlement of the transaction. Its purpose is to make certain that the property is in the condition you agreed to when you signed the purchase and sale agreement. This means that all the agreed-upon repairs, if any, were made, and nothing has gone wrong with the home since you last looked at it. Buyers are often pressed for time as the closing date draws near, which means a buyer might be tempted to pass on the final walk-through. Many issues can come up though, and it’s never a good idea to skip the final walk-through. In addition most lenders at closing will ask when was the last time you were in the home.

When you walk through the house, do the following:

• Turn on and off every light fixture
• Run water and check for leaks under sinks
• Test all appliances and make sure they are the same as when you signed the contract
• Check garage door openers
• Open and close all doors
• Flush toilets
• Inspect ceilings, wall and floors
• Run garbage disposal and exhaust fans
• Test heating and air conditioning
• Open and close windows
• Make sure all debris is removed from the home

When the Home is Occupied During the Final Walkthrough –

Sometimes sellers don’t move out until the day the transaction closes or even a few days after closing. In those situations, buyers should do a final walk-through in the presence of the seller. Why? Because the seller knows all the little quirks about the home and can answer questions the buyers may have.

This is also a good time to ask the seller for a forwarding address so the buyers can send mail. It’s nice to meet the sellers of the home and you never know when you might need to get in touch with the former owners. The final walk-through is an excellent opportunity for the parties to say hello.

Elizabeth Lutz is a licensed Realtor with The Connors Group at Windermere Group One and specializes in the team’s social media marketing.  Check out http://www.aprilconnors.com for more information.