You remember the classic comedy-rocker film, This is Spinal Tap, don’t you? Released in 1984 by director Rob Reiner, it’s a quasi-documentary about a fictional heavy metal rock and roll band trying to make one final come back. Just one time and then it will all be fine.
And it’s the very same with a final walk through when you’re in the process of buying a home. What is a walk through and what should you be looking for?
The final walk through is with your agent as you make one last trip through your home under contract.
Whether the home is newly constructed or is an existing property, the final walk through gives you the opportunity to discover first hand that the seller has performed the requirements listed in the original sales contract, as well as to see if the home has experienced any damage that needs further repairs since the initial inspection.
When you first receive your accepted offer, your real estate agent will provide you with a list of reputable and experienced licensed property inspection companies. The inspector will check each room from floor to ceiling looking for things that need attention.
Are there any cracks in the walls or ceiling? Light switches work? Kitchen appliances in good order? Heating and air conditioning in good shape? Shortly after the inspection you’ll receive the report.
Let’s say the hot water heater didn’t work and the seller agreed to replace it prior to close. Is there a new hot water heater? Do the conveyed appliances work? Any damage to the property that wasn’t listed on the initial inspection?
Your final walk through gives you one last opportunity to make sure the property you’re buying is the property you thought it would be. Did the sellers take the refrigerator and range when the contract stated they would convey?
Then you have the opportunity to compel the sellers to return the removed items or else renegotiate the contract. Don’t get too excited about closing on your home when there are things that aren’t done that should be. Once the home has closed into your name, you’ve agreed to take the home as is.