You may have seen the home you're buying three or four times already. First there was the OPEN HOUSE you happened upon as you were out driving around. You couldn't help yourself. You fell in love. You called your agent who met up with you to view it with you. Then you attended the home inspection and got a very good education about the house and your agent was able to successfully negotiate with the Sellers for some needed repairs on the home. You forgot to measure for curtains so your agent made a fourth appointment to get you in for measurements.
So now that the house is starting to really feel like it's yours, and you've seen first-hand that it has been well taken care of, why the need for a final walk-through?
Because stuff happens. After over 20 years in the business, I've seen smooth transactions hit some rough spots at the eleventh hour.
The final walk-through inspection is intended to ensure that the home is in "the same or better" condition as it was found at the time you entered into the sales contract. If the contract stated that the kitchen appliances remain, you want to make sure that those same appliances are still in place and haven't been switched out (yes, it has happened!). The same with the window treatments, even the light fixtures and area rugs: are they still there and are they the same ones you asked for?
You will want to check out the following as you walk through: (your Realtor should have this list for you to check off):
* Check every light fixture to make sure it is operable
* Test every appliance that stays with the home
* Open and close all doors and check the locks
* Open and close all windows and check the locks
* Test the air conditioning and heat
* Run water and check for any leaks
* Check out all the walls, floors and ceilings (any new stains, flooring cracks or tears, holes in walls?)
* Run garbage disposal and exhaust fans
* Make sure all debris and personal property not asked for in the contract has been removed
In addition to this "punch list", you will want to make sure that any repairs agreed to after the home inspection have been completed to your satisfaction. It's a good idea, especially if the repairs are extensive and/or complicated, to hire your home inspector to come out again just to look at those specific repair items. If for any reason they were not completed or completed properly and the closing cannot be postponed until this matter can be cleared up, arrangements will need to be made to hold back money from the Sellers' proceeds until the repairs are completed.
In many cases the Sellers have vacated the home prior to the closing, making it much easier to perform a final walk-through. You'll be able to tell right away if there are holes or "dings" in the walls created by the movers. Evidence of a fresh Kool-Aid stain in the carpet that wasn't there before will need to be addressed.
If the Sellers negotiated in the contract to stay a few days after the closing, it is highly recommended that you perform a SECOND final walk-through for just such issues as we've addressed here. In our Greater Louisville Association of Louisville contracts, that protective verbage is standard, and the second walk-through survives the closing.
At the final walk-through, I ask if the Sellers can be there whenever possible. Often this will be the first time the Buyers and Sellers have met, and it is a great time for the Sellers to point out how to maintain the swimming pool, program the garage door opener, etc. I usually recommend that the Sellers share a forwarding address so that any mail can be forwarded, and it give the buyers an opportunity to contact the former owners if there are any other questions only they can answer about the home, neighborhood, schools, etc. This is a great way to keep things friendly, too, which is always a good thing.
Buyers can find themselves pressed for time just before the closing and be tempted to pass on the final walk-through. We are so passionate about it they ask our buyer clients to sign a waiver of responsibility if they flatly refuse to check out the home before and/or after the closing (if Sellers are still in the home). After all, this is probably their largest investment, and no one likes surprises of the ugly kind!
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