What To Expect When Doing A Final Walk Through On Your Home
So you just bought a home and you are days from closing. How exciting! You almost have the keys in your hands and you can’t wait to start moving in. However, the wait is not over yet! There is the final walk through that needs to done before the property can be changed over to your ownership. For the most part, a final walk-through is intended to be a smooth process, or at least one would hope. Here are some things you should expect when doing your final walk-through.
A final walk-through is an inspection that is performed within five days before closing, and its primary purpose is to ensure that the home is in the condition of which you agreed to buy it. It is also meant to make certain that all repairs (if any) that the buyer agreed to make have been completed, and that nothing has happened to the property’s condition since you last saw it. Some buyers who are under a time pressure may become inclined to dismiss having a final walk through. This is never a good idea. A final walk through is important and should not be overlooked.
There are many situations where the seller will move out of the house before the home is sold, and the house sits vacant. In this particular situation it is even more imperative that buyers conduct a final walk through. For instance, let’s say that during the inspection period the termite inspector didn’t fully turn off a tub faucet after plugging the drain with paper to test for termites, and forgets to unplug the tub. Weeks go by and that dripping faucet has flooded the bathroom. You don’t want to find out that your house has water damage after you buy it. A lot of things can go wrong with a property when it sits vacant so it is crucial that buyers do a final walk through when buying a vacant home.
Here is a list of items to check during a final walk-through:
· Turn on and off every light fixture
· Run water & look under sinks for leaks
· Test all appliances
· Check that the fire place is functional
· Check all cabinets & closets to ensure the owner has removed all items
· 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
Sometimes sellers don’t move out until the day of closing or even a few days thereafter. In those situations, doing the final walk-through with the seller present can be beneficial. Why? Because the seller knows all the little details and quirks about the home and can answer any questions that the buyers may have, and most importantly address any discrepancies that may arise.
What Happens If A Problem Is Discovered During The Walk Through?
Unfortunately, there is always a possibility that a problem will be found during a walk through, whether it be a structural problem, appliance problem, water damage, etc. Therefore, you should always bring a smart phone or camera to evidence problems should any arise, and have your Realtor forward all photos to your attorney. The listing agent should be informed and should discuss the issues with the seller. Sometimes there is an easy fix. However, if there isn’t an easy fix, the attorneys will usually discuss the situation and possibly agree to withholding a certain amount of funds in escrow until the problem(s) are resolved.
Reference: MS Real Estate; Trulia
If you or someone you know is interested in buying or selling
a Nashville Home please contact:
The Lipman Group | Sotheby’s International Realty
Office: (615) 463-3333 / Cell: (615) 509-1753