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There is often a misconception and/or confusion of what a final walk through is and why it’s important. A final walk through can sometimes be referred to as a pre-closing “inspection.” Since the offer was accepted, over the past couple months there have been many professionals working hard to ensure that the closing takes place in a timely fashion!
Now the bank gives their “clear to close” on your future home. You get notification from your attorney that the closing day and time is confirmed and scheduled. The level of excitement is extremely high since there is light at the end of the tunnel! Your real estate agent should now be in touch regarding the scheduling of your final walk through. Although exciting, the final walk through is important and many things should checked and inspected and not overlooked. Here is a detailed explanation of what the final through is and why it’s important.
In most cases, a buyer has the opportunity to perform a home inspection prior to agreeing to purchase a home. It is a common contract contingency to be aware of when purchasing a home. The final walk through is not a home inspection. This is not an opportunity to thoroughly inspect the electrical panel to check for double tapped wires or that furnace is clean, unless it was agreed upon from the inspection contingency. The final walk through shouldn’t be an hour or two hour long appointment like a home inspection traditionally is.
Your real estate agent should have a copy of your contract with them, but it’s recommended to bring a copy of the contract in case they don’t. Often the purchase of a home will include “personal property.” This can include things such as drapes, blinds, appliances, or other items that are not permanently attached to the property.
The final walk through is the time to ensure that the personal property items that were agreed to be included in the sale, are still present. Have a copy of the contract handy so it can be referred to if there are any questions or discrepancies.
Prior to a home closing, both the buyer and the seller should call their local utility companies. This can include the gas, electric, and water providers. Once a firm closing date and time have been scheduled the seller should contact the utility company to switch the utilities out of their name and the buyer should call to have them switched into their name. It’s recommended that they are effective the day of closing to ensure there is no stoppage in utilities. Many providers will charge a fee to turn back on their service.
At the final walk through, readings should be obtained for the utilities. These readings should be called into the respective companies to ensure accurate billing is provided to both the buyer and the seller. There are some utility companies who will arrange a time to perform the readings themselves, but it’s always good to be safe and record your own reads!
Possibly the most important part of the final walk through is to complete a checklist of the home. A good real estate agent should be able to provide their clients a checklist for the final walk through. Here are several things that should be checked at the final walk through:
If there are problems that arise from the final walk through, it’s important to address them quickly. Real estate agents often will have their client sign a form acknowledging that they are satisfied with the results of the final walk through. It’s a good idea as it can eliminate problems at the closing. If there are problems that the buyer wants addressed, their attorney should be notified immediately so they can be resolved prior to the closing date and time if possible!
The above explanation of what a final walk through is and why it’s important is why it should not be taken lightly. There are many costs associated with buying a home and the last thing that a buyer needs is problems once they’ve moved in due to overlooking something at their final walk through! What other items would you include as important during a final walk through?
Buying a home in Rochester, NY? We’d love to represent you as your buyers real estate agent and ensure that the final walk through is productive and things are not overlooked! Contact us if you’d like a copy of our final walk through checklist.
About the authors: The above article Final Walk Through – What It Is and Why It’s Important was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With almost 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise.
We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.
Visit our website at www.HiscockHomes.com.
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