You are almost to the home buying finish line–don’t rush the walk through
The walkthrough can seem like an unnecessary formality in the home buying process, but in fact, it is one of the most important steps. While we can all relate to wanting to get the paperwork done and the keys exchanged, the walkthrough is extremely important. Buying a property is a huge monetary and emotional investment, so don’t rush it at the end. Instead, do a thorough walkthrough with your 616 Realty agent, then sign the dotted line with confidence that you made a great purchase!
Also known as–Verification of Property Condition
Because there is time between when your agent puts a contract on your home and when you sign at closing, it is important that you do a final verification of property condition before you go to your closing. This step ensures that the home or property you are purchasing is in the same condition as it was when you signed the contract. This is also the time when you will check and see if the repairs you agreed on with the seller were actually completed.
Bring the paperwork
Bring the contract including the repairs list to the walkthrough. This will help you to check off whether the home is in the same condition as when you signed the contract and that all the repairs that were agreed upon were completed. Likewise, a walkthrough allows you to check and make sure that all items that were to be included in the purchase (appliances, etc.) are still in the home.
Are there people in your home? Stuff?
It has actually happened that the buyers go to the walkthrough only to find that the sellers haven’t moved out like they promised. It is always good to know what you are walking into before the closing, not after! Likewise, people sometimes leave things that were supposed to be removed from the property, like an old freezer or a bunch of junk in the yard. The walkthrough will allow the opportunity to make sure the home is free of junk and people!
Check the plumbing, etc.
Be sure to check that the roof, the plumbing, the electrical, and the furnace/A/C are all in working condition. Sometimes when a home sits vacant, issues can arise with a leaky pipe or the furnace goes out, so you want to do a thorough evaluation of the property and make sure some issues haven’t arisen that are going to cost you thousands of dollars. For example, a pipe may have leaked and caused mold to grow throughout the basement. This will cost a lot to get fixed so you want to catch it before you close on the home! For sure:
- look at the ceilings
- run the faucets
- check under sinks for leaks
- flush the toilets
- turn on the shower and check for hot water
- check the light switches and fans
- make sure the outlets work
- run the garbage disposal
- turn on the a/c and the furnace
Don’t forget the keys
Make sure during the walkthrough or at closing that you get all of the keys for the exterior doors as well as the garage openers. You don’t want to have to re-key the back door! Also, make sure the garage door openers and door work properly.
While you are there, check all the windows and make sure they are in working order. Open and close them and try out the locks.
Make sure that the outside spaces look like they should! Some sellers have dug up plants and taken things that were to be included in the sale, or maybe they have neglected to care for the yard and everything has died. You will want to check that out before the closing.
The walkthrough is over
At last, you have finally made it; the home buying finish line is in sight! Aren’t you glad that you and your 616 Realty agent tackled the walkthrough together?! You have now avoided any surprises and can rest easy as you sign the dotted line on your new and exciting investment.