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    Real Estate
    Sunday, May 12, 2024

    Things to look for on the final walkthrough

    The house you agreed to buy isn't always the one that awaits you when you finally close on the purchase. The final walkthrough, one of the last steps in the home buying process, is designed to ensure that everything is in proper order and that the seller has abided by all agreements.

    Even after visiting the property and getting a home inspection, you might still discover some problems. Furniture, area rugs, or drapes can conceal stains or cracks; once the seller has moved out and taken these items, any hidden damage will be visible for the first time.

    It's also possible that some issues might have occurred when the seller moved out or in the interim when the house was vacant. In removing furniture and other belongings, the movers may have accidentally scratched the floor or gouged the walls. And if someone left a faucet dripping, you might be greeted with mold or water damage.

    It's best to do a final walkthrough with one or two other people. The mortgage lender American Financial Resources Inc. says you should ask your real estate agent to accompany you, since he or she is familiar with the property and the conditions of the sale. Brendon Desimone, writing for the real estate site Zillow, says you should also ask the seller to attend if possible.

    There are many things to check, so you should schedule ample time to allow a thorough inspection. Bring along a checklist so you don't overlook anything. A copy of the contract will also give you a record of any sales conditions, including repairs that the seller agreed to complete and appliances that should remain in the house.

    Go through the house room by room to test all the systems. Laura Sherman, writing for the National Association of Realtors, says this will include flipping the switches to make sure the lights and fans are functional. Bring along a phone charger or other small electrical device to check that each outlet is working.

    Test the faucets in the kitchen and bathrooms, and check the water flow in the bath and shower as well. When checking these fixtures, don't forget to look at the pipes under the sink to make sure they aren't leaking. Give the toilets a flush as well to see that they are functioning.

    Wherever an appliance has been left with the house, give it a quick test to see that there are no problems. The refrigerator, oven, dishwasher, garbage disposal, and other components should all be clean and in good working order. Test the heating, ventilation, and air conditioning system as well.

    The doors and windows should open and close easily and have the ability to lock. Screens and storm windows should also be installed or readily available.

    Don't forget to give the exterior a look as well. Check any electrical outlets to see that they are working, and run the faucet for the hose. If the house has a garage, the doors should be functional and the previous owners should have left behind any remotes.

    While doing the final walkthrough, keep an eye out for any potential problems. Climb up to the attic to check to see if the roof has been leaking. Look over the exterior for any damage, especially if there have been any recent storms.

    A final walkthrough will also serve as a confirmation that a seller has met all conditions of the sale. By the time of this visual inspection, any repairs they agreed to do should be completed. If they promised to leave behind appliances or other items, these should all be in place. In checking the exterior, make sure that the seller has not uprooted any shrubs or other landscaping.

    In addition, the final walkthrough will reveal whether the seller has left behind any unwanted items. The house should be reasonably clean, and the previous owner should not be leaving you to foot the removal bill for any piles of junk.

    Your real estate agent will be able to help you resolve any issues that are revealed in the final walkthrough. Mark Nash, writing for the real estate site HomeFinder, says the issue can usually be resolved if the seller agrees to complete any necessary repairs or offer a credit to the buyer.

    If the seller is unwilling to meet any conditions, the final walkthrough can also offer a buyer a last-minute chance to back out of the deal. Jacki Shafer, a real estate agent in Louisville, Ky., says buyers often reserve the right to walk away from a home if the final walkthrough reveals unexpected defects which the seller is unwilling to fix. Shafer also says some lenders will not allow a sale to be closed until repairs have taken place.

    The final walkthrough usually takes place within 48 hours of the closing. The seller is often out of the home by this time since the transfer of ownership takes place at closing, but that sometimes the seller needs to stay for a longer period of time. In these cases, she recommends that the buyer do a preliminary walkthrough to ensure that the seller has completed all agreed-upon repairs and a second one to look for any damage that may have occurred as the seller was moving out.

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