The Final Walkthrough: Comprehensive Mortgage Checklist
When you're buying a house and approaching the final stages, you'll have the opportunity to conduct a final walk-through inspection of the property before closing day. This walk-through is your chance to ensure everything is in order and that your new home is ready for you.
Let's delve into what you need to do during the final walk-through and why it's crucial.
What Is a Final Walk-Through?
A final walk-through is a vital step in the home buying process. It gives home buyers the chance to inspect the house before the official closing. During this walk-through, the buyer and their real estate agent go through the house room by room.
This allows the buyer to confirm that everything is in the same condition (or better) as the last time they saw the home. They can also ensure the seller hasn't taken anything they shouldn't have and verify that any agreed upon repairs have been completed.
Final Walkthrough Checklist - Last Chance Before Closing Day
The final walk-through is the buyer’s chance to ensure the home is in the expected condition and that any issues previously addressed with the seller have been resolved. Once the closing is complete and the buyer has moved in, it’s generally too late to address any problems, so be thorough during the final walkthrough before closing. Therefore, it's crucial for the buyer to be meticulous.
Here’s a checklist of essential items to review during the final walk-through.
1. Inspection Seller Repairs
If you included an inspection contingency or repair requests in your offer, the final walk-through is your last chance to verify that the seller has completed these repairs. This is your opportunity to ensure the repairs meet your standards and are of good quality.
What to Look For:
- Bring your home inspection summary and accepted offer letter.
- Verify each repair the seller agreed to, rather than taking their word for it.
- For example, if the seller promised to fix a light switch, you want to make sure to test it to make sure it works. If new faucets were part of the agreement, ensure they are installed and functional.
- Don’t leave until every item on your checklist is addressed.
- Request warranties or repair receipts for all work done. This can save you money, as many repair companies offer limited-time warranties.
2. Belongings Are Moved In or Out
Ensure the seller has completely moved out of the home before closing. This helps in two ways: it makes it easier to spot new defects and ensures you don’t have to deal with the seller’s leftover belongings.
What to Look For:
- Inspect every room for any items left behind by the seller, including closets, attic, basement, garages, and sheds.
- Review your acceptance letter for items the seller agreed to leave behind, such as appliances or fixtures.
- Contact the seller if you notice they left something they shouldn’t have or took something they agreed to leave.
3. Locks and Windows
Ensure your new home is secure before closing, as outlined in the purchase agreement. Here are some items to include on your checklist:
- Check that all windows and doors lock and unlock correctly.
- Ensure all windows slide open easily and don’t stick.
- Verify there are no holes, tears, or defects in the window screens and that none are missing.
- Make sure window screens don’t pop out easily.
- If the home has an alarm system, test the sensors on all doors and windows to confirm they work properly.
4. Appliances
Ensure all appliances in the home are functioning as expected, as per the purchase agreement. This step is crucial due to the significant expense associated with most appliances. Here are some essential checks to perform during your walk-through:
- Verify that the oven heats up without emitting a gas odor.
- Run the dishwasher through a full cycle, possibly with a dirty dish to ensure it cleans properly.
- Test the washing machine and dryer by turning them on and off.
- Run water in all drains to confirm they empty properly and don’t clog, ensuring there are no leaks.
- Check for unusual smells coming from running water.
- Operate the garbage disposal if the home has one.
- Open and close the garage door, ensuring it responds only to the correct key or code.
- Test the HVAC system in both heating and cooling modes, confirming the home adjusts to the desired temperature promptly, as you want to make sure it is functional.
- Arm and disarm the home’s security system to verify it functions correctly with the proper code or key.
- Flush all toilets to ensure they work well and check the water shutoff valves near their bases.
- Run water in showers and sinks to test hot and cold water, check water pressure, and ensure bathtubs hold water when plugged.
Making sure all appliances work before closing can save you from costly repairs later. If you’re buying the home as-is, note what needs to be replaced or repaired for future reference.
5. Mold
Mold can become a major issue between the time the seller moves out and you move in, as it can develop quickly. Carefully inspect damp areas like bathrooms and kitchens for signs of mold.
- Pay close attention to the bases of toilets and the drains of bathtubs or showers during the final walkthrough before closing.
- Open sink cabinets to check for mold around sinks.
- Inspect the bases of the refrigerator and sinks for mold.
6. Electricity and Outlets
Electrical issues can spread quickly from one outlet to another. Walk through the house with a cell phone charger, testing each outlet to ensure it registers immediately, as you want to make sure everything is operational. Alternatively, use a multimeter for a more thorough check.
- Inspect the plate covers on electrical switches, ensuring they are secure and undamaged.
- Test light fixtures, doorbells, and garage door openers to confirm they work properly.
7. Backyard and Outdoors
Examine the exterior of the property as carefully as the interior. Walk around the yard or lawn, ensuring the landscaping is in good condition. Some sellers may remove plants, bushes, or trees, so verify these are intact during the final walk-through checklist. Check any gates to ensure they latch and unlatch easily.
Pool
If the home has a pool, inspect it for mold, mildew, and damage to the lining. Test the pool gate and note any damage, holes, or wood rot in the fence.
Irrigation System
Inspect the irrigation system, if present. Turn the water on and off, noting any non-functional sprinklers. Check inside and outside any sheds, ensuring no dangerous chemicals or tools are left behind.
Conducting a detailed outdoor walk-through can also help you plan potential exterior upgrades, such as adding a gazebo or a pool. While these changes aren’t related to the inspection, they can be exciting to consider for the future.
8. Pests
Pests can invade after the seller has moved out, even if the home was clean during inspection. Look out for termites, rodents, and ants, especially if any garbage was left behind. If you spot signs of infestation, contact an exterminator before closing.
- Look for mouse droppings, bite marks on wood, and other signs of pests.
- Check for dry rot, spongy floors, and wooden walls with tiny pinholes, which can indicate termites.
- Inspect the chimney, as birds and raccoons often nest there after the home has been unoccupied.
What To Do If You Find Issues During The Final Walk-Through
Ideally, the final walk-through reveals that the home is in excellent condition, with all agreed-upon repairs completed by the seller. However, issues can arise. Here are your options depending on the severity of the problems:
1. Minor Issues: Request the seller to fix the problem before closing.
2. Moderate Issues: Delay the closing to allow the seller time to make the necessary repairs.
3. Significant Issues: Withhold funds from the seller’s proceeds to cover repair costs after closing.
4. Major Issues: If there is substantial damage or costly repairs that the seller refuses to address, consider walking away from the sale or pursuing legal action.
Final Walkthrough FAQs
Who Attends A Final Walk-Through?
Typically, the buyer and their real estate agent attend the final walk-through. The agent assists the buyer in identifying potential issues and guides them on the necessary steps if problems are found.
When Does A Final Walk-Through Occur?
Final walk-throughs generally occur a few days before or on the day of closing, usually after the seller has vacated the property. If the seller has not completely moved out, they might be present, along with their real estate agent.
How Long Does A Final Walk-Through Take?
The duration depends on the home’s size. Smaller properties may take about 15 minutes, while larger homes could require an hour or more. It's essential not to rush this process.
Can A Buyer Back Out After The Final Walk-Through?
Although rare, buyers can back out after the final walk-through if significant discrepancies from the contract are discovered, such as new mold growth or other major issues.
Final Walkthrough Checklist - The Bottom Line
The final walk-through is your last opportunity to identify and address any issues with the property before closing. Follow your checklist diligently and consult with your real estate agent if any problems arise.
While you might want certain upgrades or changes, it’s unrealistic to expect the seller to handle every minor improvement. Be prepared to undertake some home improvement projects yourself after purchasing the house. For larger projects, consider getting a quote or advice from a professional.
Are you ready to start the home buying process? Begin your mortgage approval process today with Classic Home Mortgage.