Making the Most of Your Final Walk Through
Before you sign the closing documents and roll into the driveway with your moving van and paint samples, there’s another important step to take – you must do a final walk-through. This is the last chance before closing to make sure everything is in working condition. A final walk-through cannot only help you feel more confident about your purchase and avoid buyer’s remorse, it can also pinpoint any last-minute problems that should be taken care of before settlement.
This assessment should take place 24-48 hours before closing on a home. The primary purpose is to make certain that the property is in the condition you agreed to buy — that agreed-upon repairs, if any, were made and nothing has gone wrong with the home since you last looked at it. Go through the house room by room. At this time, you should check all major appliances to ensure they are in working condition. Check to make sure any previously agreed-upon repairs have been made. Then, look over the general condition of the property, inside and out: Are there damages like scratched walls or floors that occurred when the homeowner moved out? Did they leave unwanted furniture or other things behind? Is the yard and overall property in good shape (or, rather, the condition it was when you last saw the home)?
- Turn on and off every light fixture
- Run water & look under sinks for leaks
- Test all appliances
- Check garage door openers
- Open and close all doors
- Flush toilets
- Inspect ceilings, wall and floors
- Run garbage disposal and exhaust fans
- Test heating and air conditioning
- Open and close windows
- Make sure all debris is removed from the home
If you’ve completed your final walkthrough and everything looks great, CONGRATULATIONS! If not, and you’ve identified a few problems, you have a few options. First, if you consider how significant the problem is and decide its a deal breaker, you can choose to walk away from the deal altogether. Second, you can speak to your Realtor who will help you get the problems fixed before closing. While sellers will most likely comply with any requests in hopes of closing, sellers may balk at having the problem fixed; and if the repair was agreed upon during negotiations, you do have legal recourse — although it may be a good idea for the buyers and sellers to try to reach an amicable agreement to make the closing go more smoothly.
Take your time. During the final walkthrough you want to ensure that there are no surprises after the closing. Once this important final step is complete, take a sigh of relief; you will now be the proud owner of a new home and can finally put all of your attention on setting up your new home just the way you like it!
With home mortgage loan interest rates beginning to slowly rise again, right now is one of the best times to consider all of your home buying or selling options. Whether you are buying a new home or looking to refinance your current home, you can trust Fairway Independent Mortgage of the Carolinas to make your home loan as stress-free as possible. Call one of our offices today, or simply fill out our online application to get started.
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