The final walkthrough an essential but often glossed-over step when buying a home. It's your last chance to make sure everything is as you want it before you sign on the dotted line and put down your deposit. The final walkthrough will take about an hour, but many things can happen during this time. In this blog post, we'll go over what to expect when you're buying a home and all the things that may come up during your final walkthrough!
What is a final walkthrough?
A final walkthrough typically happens anywhere from the day of closing to a week before the closing date. During the walkthrough you will be able to complete a final inspection of the property. The final walkthrough isn't the same as the inspection you may have done on the condo. Instead, it's when you can inspect the condo to ensure everything is in the same condition when you put in an offer or after an inspection or ensure that any work that was supposed to be done is completed.
Who will attend the walkthrough?
Typically it will be you, your agent, and the listing agent that will conduct the walkthrough. You may invite others to the walkthrough as well. As the buyer, you want to make sure that you will attend the final walkthrough yourself.
What to inspect at the walkthrough?
Inspect the entire condo: As part of the final walkthrough, you should inspect the condo for any damage or defects present at the inspection time. For example, check under sinks, check cabinets in bathrooms/laundry rooms, turn on all faucets (including water heater), remove light bulbs from ceiling fixtures, basically anything.
Check on fixtures: Make sure exterior light fixtures still work as they should by flicking on the light switches.
Check appliances: Ensure all appliances work properly, including dishwashers (if applicable), ovens/stoves, washer and dryer, and garbage disposals.
Inspect the cooling system: Ensure that all of your HVAC components are installed and working correctly.
What to do if there are issues discovered at the walkthrough?
The first thing that you want to do is make it known to all parties. Next, you should ask for an extension of the closing date to have time to have a professional inspect and provide an estimate for any work that may be needed. You may also want to take pictures and videos of any of the issues.
Negotiate for repairs to be completed and paid for by the seller or to have the seller credit you the estimated costs at closing. It may be better for you to repair yourself to ensure the completion of repairs. However, if the repair is minor, or if you acknowledged the repair earlier but agreed to move forward, be prepared to foot the bill yourself.
What if the seller doesn't want to address issues found during the walkthrough?
The seller has to deliver the property in the condition of inspection or when you made the offer. If the seller refuses to take care of any issues, you may want to consult a real estate attorney to explore your options.
Conclusion
If you're buying a home, make sure to schedule your final walkthrough. It's the last chance for you to go through and check everything before signing on the dotted line! You never know what could come up during this time. Make sure you have 2 hours set aside so that it won't be too much of a hassle on either side if anything comes up.
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