Real estate property, especially residential properties, is considered to be the most expensive acquisition the average person will ever make in his or her lifetime. Whether you get a newly-built home, a fixer-upper, or simply just a piece of land for sale, it is going to cost you a lot of money to buy.
If you are considering buying a property or are already in the process of acquiring one, make sure that you don’t skip out on the final walkthrough as it is a very crucial part of the purchase.
What is a final walkthrough?
A final walkthrough is just what it sounds like. It is the time that you take to go around a house that you are about to buy one last time to see if everything is in order and in place. It is that time when buyers and the agent take a walk throughout the entire property to make sure that all initial issues and concerns about the property have been addressed and taken care of to ensure a proper and smooth closing and turnover.
Why does it matter?
A final walkthrough should never be taken for granted nor should it be taken lightly. Before you even invite pop that champagne to celebrate your new purchase, a house buyer should take a final walkthrough very seriously. After all, you wouldn’t want to feel robbed when you find out that not everything is in great condition upon turnover. When that happens, you only have yourself to blame.
A final walkthrough gives buyers one last chance to confirm that all the necessary repairs and changes were completed by the seller and that no other issue has transpired after the home inspection.
What should one look for in a final walkthrough?
In any final walkthrough, both buyer and seller have to fulfill certain things to make the process as smooth and problem-free as possible.
Here are some of the things that the seller must accomplish before the date of the final walkthrough:
- Make sure that the house is clean and empty. It doesn’t have to sparkle and shine. Just sweep through the entire place with a broom and you’re good.
- All repairs and updates agreed upon in the contract should have been completed. Keep receipts and repair records handy in case the buyer follows up on something.
- Any appliances and furniture included in the agreement should be in good condition, working properly, and clean.
- All holes and dings in walls should be covered and painted.
Here are the important things that buyers should take note of when going on a final walkthrough:
When you go through the kitchen, make sure that all the appliances are in good working condition and that there are no leaks and water damage near the sink or dishwasher. If a garbage disposal is installed in the sink, you should also check if it’s working.
Bathrooms and kitchens are the most crucial parts of any home purchase. So make sure that all the bathrooms are working perfectly before closing the deal. Turn on all water sources (sink, shower, tub, and toilet) to ensure that the water flow is good. Check for any leaks and signs of damage in tubs and toilet bowls. Make sure to also check both hot and cold water to know if the heater is working well.
3. Doors and Windows
When checking doors and windows, make sure that each one of them opens and closes properly. Check to see if windows have screens and that none of them are missing. Keep an eye out as well for any signs of moisture or damages caused by moisture around the door or window.
4. Washer and Dryer
Turn on both the washer and dryer; look for leaks, damages, or drainage issues. If the property has a utility sink, check if it also works well.
5. HVAC System
Regardless of the current temperature outside, run the air conditioning unit and the furnace to see if they’re both working well.
6. Electrical Outlets
Turn on all the lights throughout the house to see if each one is working. If one isn’t working, determine if the issue has to do with a busted bulb or is an electrical problem. Test all the outlets as well. The easiest way to do this is to come to the final walkthrough with your phone charger and plug it in different outlets all over the place to see if they’re working or not.
So before you start planning for a housewarming party and make your plans to move into your new home, make sure that everything is in order before you close the deal. Set aside those daydreams of your living room layout in the meantime and focus on ensuring that your new house is everything you’ve wanted and more.