No one said the home buying process was quick and easy. In fact, for most people it takes months from the time a buyer starts looking for a house until they actually close on the house. As you near closing there is no shortage of items on your to-do list – inspections, finalizing loans and setting an escrow closing date to name a few. However, you’re not done quite yet! You still need to complete your final walkthrough.
What is the final walkthrough?
The purpose of the final walkthrough is to make sure everything is as it should be for closing. This is the step where you make sure the seller has fixed anything that needs fixing, if you negotiated keeping the refrigerator, now is the time you ensure the refrigerator is there and no additional damage happened as a result of the seller moving out. Your real estate agent will coordinate your walkthrough about a week before closing and you can expect that it will take about 30-60 minutes to complete a full walkthrough.
Why does it matter?
This is your last chance to give your home a thorough review before you close. It’s a critical step that can help you avoid buyer’s remorse and solve any potential problems. Should you find something wrong, missing furniture or new damage, the first thing to do is tell your real estate agent. The real estate agent can negotiate with the seller and their agent to make sure it gets cleared up before closing. Many buyers get swept away by the anticipation of how they will set up a new home, but the final walkthrough allows you to make sure there are no last surprises.
What to look for
During your final walkthrough it’s best to go room by room. When you enter the room start by ensuring that any electrical work and appliances are in working order. For example, test all light switches and run the washer and dryer. Consider bringing a cellphone charger with you and plug it in to each outlet to make sure everything is in working order. As you’re observing the room look to make sure there are no new damages and nothing is missing. After you’ve walked through the interior of the house also take a look around the exterior. Ensure the whole property is in good shape. After you’ve conducted your final walkthrough, you can rest assured that moving into your new home will be problem free!