Homebuyers: The Final Walk-Through
You found the perfect house, made an offer, negotiated the price, had an inspection and ensured your mortgage. It is the day week before settlement (closing)… and the only thing left is your final walk-through.
Walk-throughs are normally scheduled the day of, or day before the settlement, as the seller should be completely moved out. The object is to ensure that the house stands in the same condition, as when you agreed to buy it.
This is not the time to nitpick about nail holes or carpet imperfections. Unless you’ve negotiated allowances for such issues, you’ll have to address them later after you’ve settled.
What could impact the transaction is property or fixtures that the seller agreed to leave behind are missing (e.g., a washer/dryer, pool table, refrigerator, garage cabinets, etc…) or if the seller leaves things that were supposed to be removed (e.g., paint cans, furniture, etc.).
With your agent at your side, be sure that negotiated (obligatory) repairs flagged during the due diligence period (home inspections) are completed to code and satisfaction. If the seller agreed to replace an aging water heater but didn’t do it, this must be accounted for during settlement.
You may be eager to leave the house and get to the settlement, but don’t rush through the walk-through. Run the appliances through a full cycle to make sure they work. Turn on all faucets and showers, as well.
Some contracts will specify that the buyer complete a walk-through a week or two prior to settlement followed by a quick meeting prior to settlement to check off any items previously noted. Again, any items or tasks that are not complete must be justified at the time of settlement.
Though issues may arise, the majority of walk-throughs go without a hitch as both parties are eager to complete the deal and willing to negotiate any final hurdles.
You can reach Annie via email at Annie.Freed@BHHSYSU.com, Voice or Text at 919-701-2201 or via her website www.AnnieFreed.com.
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