During the negotiation, we laid out our contingencies. We laid out the things we want to be done before we actually close the deal. There was inspection done to know the state of the property. There were also agreements made with the sellers. However, how can we be sure that these agreements are implemented? We can do so in the final walkthrough.
What is the final walkthrough?
The final walkthrough is an inspection of the property right before the closing. This can take place within five hours to seven days before the ownership is transferred. This is important because this is the last chance of the buyer to make sure that the agreements made by the parties were done.
What is expected in a final walkthrough?
Do not expect to negotiate during the final walkthrough or inspect the area so that the seller will repair it. During the final walkthrough, all you need to do is to check the property and make sure that its condition is what you expect it to be. This means that everything that you and the seller agreed to do should have been implemented. This includes the repairs, the items included in the purchase and the items that should no longer be in the house.
During the walkthrough, you should learn essential things about the property. The seller or the authorized individual should show you how the systems and the other devices in the house work. You should also know about the maintenance requirements of the properties. Bear in mind that although then property has a warranty, it will not include those that are caused by failure to performthe required maintenance.
Preparing for the walkthrough
In order to check the essential items in the property, you need to prepare. First, you will need to have a checklist. You can copy several checklists online. You can also use the report from the inspection or use the contract that both of you signed. This should guide you as to what to expect in the walkthrough.
Your checklist should have the items referring to the different repairs that seller agreed to repair. You should not only check that the repairs are made, you also have to make sure that the repairs are done properly. Aside from the repairs, check the items that the seller agreed to include in the purchase. They have to be working. If there is furniture, check for damages.
You have to check the systems of the house too. The plumbing and the electrical systems should be inspected to make sure that they are properly working. You have to inspect the different areas of the house too. This includes the exterior and the interior. You should also check the roof and the grading.
Include the doors and the windows in the inspection too. They should be easy to close and open. Check for damages as well. See if there are broken or damaged portions.
Every home has the possibility of mold contamination. It is only right that you look at areas where mold will likely develop. This includes the bathroom, the kitchen and home devices that utilize water. Include the inspection for water damages as well.
To get your money’s worth, see to it that you do not skip the final walkthrough.
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