Real Estate 101: The Final Walk-Through
So you’ve finally come to the finish line of the home buying process. You are just a few days away from closing and getting the keys to your new home in your hot little hands. You are more ready than ever to move in and start your new life. But there’s one last step in the process before you close the deal – the final walk-through. Why is this step so important? How can you maximize the value of your final walk-through? Here are a few tips to guide you through this last step of the home buying process:
Verify that all repairs were performed. This step is important for both buyers and sellers. The final walk-through gives us a chance to make sure that no repairs were forgotten or left incomplete, so carefully check that each and every repair that was agreed upon was performed. Resist the temptation to avoid checking on repairs that are challenging to access – for instance, areas in the basement, attic, or crawl spaces. This process will benefit not only the buyer but also the seller – verifying that all repairs were performed protects the seller from any post-escrow legal issues. Bonus tip: If repairs were performed by a contractor, obtain their contact information from the seller. This can be useful if future issues arise related to the repairs they performed.
Check for any major problems that could’ve arisen since the home inspection. While it may be unlikely, it’s possible that new problems have arisen since your home inspection was performed. Check for any problems that could mean major repair work, especially paying attention to anything that can leak – toilets, dishwasher, shower, etc.
Take your time and be thorough. Sometimes even the things you think of as minor may be the most expensive to repair. So give yourself plenty of time for the walk-through and make sure to give attention to every area of the home. Bonus tip: Make sure the final walk-through is not scheduled too far in advance of the closing date. Ideally, your walk-through should be scheduled for 24-48 hours before closing.
Be reasonable. Almost every home will have flaws and it may become clear during your final walk-through that some minor repairs will be necessary. Think carefully about whether or not the repair in question is important enough to you to potentially jeopardize the closing of the deal.
If you have concerns during your final walk-through, now is that time to address them because it will be too late once the keys are in your hand! In all the excitement of closing your real estate deal, it may be tempting to rush through this important last step. Resist that temptation! The final walk-through is an important part of the home buying process that deserves your full attention.
Have questions about walk-throughs or any other aspect of the real estate process? Our agents are here to help! Contact us at firstname.lastname@example.org with any questions you have and we will be happy to assist you promptly.