When purchasing a new home, the closing process can seem long and daunting. Sometimes it can take several weeks from the time your offer is accepted until you sign the papers. Recently, homes have been closing very quickly due to high demand, making a walkthrough your last thought. While you may be anxious to sign and receive the keys, you should never skip a final walkthrough.
What is a walkthrough?
A walkthrough is a simple task. You and your realtor will walk through the property that you are planning to purchase to double check that it is in the condition that was agreed upon in your offer. You will be guided through making sure that all the agreed repairs are completed, no new damage has occurred, and all appliances work and are in good condition.
Walkthroughs typically happen on your closing day or a few days leading up to close. It is important to do a walkthrough after the seller has moved out to check for any damages caused by moving furniture.
Doing a walkthrough is not mandatory, but highly suggested to avoid disappointment and hassle on your moving day.
Why is a walkthrough so important?
The final walkthrough is an important task that should not be rushed. Throughly inspecting a property before moving in will result in less damages and repairs that will cost you financially. Once signing all documents, all repairs will be your responsibility.
Tips to have a successful walkthrough
- Bring your realtor. Your agent has done plenty of walkthroughs and knows exactly what to look for.
- Check all water fixtures, and turn on everything such as taps, toilets and showers.
- Test all appliances such as the fridge, freezer, washing machine, dishwasher, stove and oven.
- Test the furnace and air conditioning.
- Check for water damage as well as scratches and holes in the walls.
- Look at the cleanliness of the home, and prepare to bring in cleaners or discuss with the seller.
- Make sure to inspect outside of the home in the front and backyard for exterior damage.