Buying a Home - The Final Walk-Through
Here is a wonderful breakdown of what a buyer can expect on their final walk-thru prior to funding and close. There are some real important points to make sure are not missed. Enjoy.
Buying a Home - The Final Walk-Through
Before closing on your new home you need to do a final walk-through of the premises. This is a time to carefully inspect the property before officially taking ownership.
The walk-through I conduct with my clients lasts an hour or more and includes a detailed checklist as part of the process. It is done prior to the closing and the sellers need to be completely moved out.
What actually happens at a final walk-through?
- Any repairs that were specified in the purchase and sale agreement should have been done. You need to go through the list and inspect each repair. For major repairs that have done by professionals, you should have been provided with a paid invoice.
- At this time you need to check on the property that is included in the sale. If the agreement states that the refrigerator, washer, dryer, window treatments or any other items are to be left, this is the time to make sure they are all still there.
- Sometimes an accident can happen during the seller's move-out. Did the movers nick the walls or stain the rugs? This needs to be accounted for.
- Walk through every room, open all of the closets, cabinets and draws.
- Run the stove, dishwasher and any other appliance that is part of the transaction.
- Turn on the faucets, flush the toilets and check the shower.
- Switch on all of the light switches.
- Check the heating system and the air conditioning. Everything should be working.
- During the walk-through you may sometimes see things that were not visible when furniture and carpeting were in the home. I have often seen scratches or holes that were previously covered with area rugs.
- Look in the attic, the basement and all storage places to be sure that the owners have cleaned them out and taken their possessions with them.
- Don't forget to check the garage and test the garage door openers to make sure that they are still functioning.
What if something is wrong at the time of the walk-through?
Perhaps the sellers' mover has smashed a hole in the wall or there is a stain on the floor that was not there previously. There have also been some cases that I have experienced when the air conditioning or heating has not been functioning.
The seller needs to reimburse you for any problems that arise. Cash can be put aside in escrow until said repairs are made or you can settle for a credit in an amount deemed appropriate. But, if mishaps occur - you do need to be compensated.
And, with this last detail taken care of, all parties can move on to a successful closing.
Copyright 2010 "Buying a Home - The Final Walk-Through "
Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230
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