What to look for during a Walkthrough:
The walkthrough of the home is the last opportunity for the buyers to inspect and observe the home before the closing. During the final walkthrough, the buyers and the agent travel through the house room by room to ensure that the quality of the home is still maintained. The walkthrough gives the new buyer the opportunity to make sure that the seller’s belongings are moved out and the items are not going to be there when they move in.
The final walkthrough is often attended by the buyer and their real estate agent only. They might get assistance from the real estate agent as they go through. What the purchasers should look for during the walkthrough may be better known to an agent. If there is a problem with the house, the agent can assist the buyer in moving forward. Usually, the walkthrough happens after the previous owner has left the property. The seller could be present for the walkthrough if they haven't completely moved out yet. In this situation, it is likely that the seller's real estate agent would also present. This opportunity to walk through the house gives the buyers a chance to make sure that all the appliances are working. A major benefit of a walkthrough is making sure that the property did not develop mold from the time that the offer was accepted to the day of the walkthrough.
When doing the walkthrough you may be a little overwhelmed with knowing what to look for, listed below are a few things you should be on the lookout for when completing this room by room inspection.
When you put in an offer to buy your house, you could have added a conditional clause about the inspection or a few demands for fixes. Your final chance to verify that the seller performed the necessary repairs or that no new, evident improvements still need to be done is during the final walkthrough. Keep tabs on every adjustment the seller agreed to, and include a copy of your inspection analysis and your final, approved offer letter. Don't just believe the seller when they say everything is in working order; verify it for yourself. Request the warranties or repair invoices from the seller for every work they performed on the house. If you are able to get answers to all the questions beforehand, you are able to save money in the long run.
Checking all locks and windows, make sure that all locks work properly on both the windows and locks. Ensure that all windows open smoothly and the screens have no holes. As well as checking if the screens pop out easily, are there any missing, any defects. If the home you are purchasing comes with a security system then arm the system and check to see if every window and door sensor works correctly to ensure maximum safety when you move in.
Double check every room and cabinet to see if the seller has taken all of their belongings when moving out, working with a clear and empty space during a walkthrough ensures everything goes smoothly and you can check the quality of the home. If the sellers belongings are there then work around it but check everything diligently. Review the seller's acceptance letter to see what they committed to leaving behind. Look for furniture, fixtures, and other items that are covered by your contract. If you discover the seller has removed anything they agreed to leave behind or left something behind that they shouldn't have, get in touch with them before closing.
Lastly, test all outlets to see if they work and check to see if all appliances work. Flush all toilets, turn on every sink, turn the laundry machines on, test to see if the refrigerator is cooling properly, cooling and heating systems work. In a perfect world, when purchasers conduct the final walkthrough, they would always discover the house to be in excellent shape and that the seller had made all the repairs they had promised. Even though the final walkthrough typically passes without a hiccup, it's always a possibility that buyers will discover issues. Here are a few ways to approach the situation if issues are discovered: Ask the seller to take care of any small issues before closing. Postpone the closing to give the seller more time to address the issue. In an escrow account, withhold funds from the seller's profits to cover the repairs after the closing. You might have to walk away from the deal if there is significant damage to the house or a costly remedy that the seller won't do and you can even take legal action.
A walkthrough is a crucial part of purchasing a home and is something you should do before closing the deal. It protects the buyers as purchasing a home is a large investment, it helps them ensure that they are investing their money the way they want without running into issues in the future with the home they purchased.
Looking to buy or sell your home on Staten Island? For all your real estate needs, look no further than Tom Crimmins Realty! Give us a call at (718) 370-3200, and we can provide you with professionally-trained agents who are flexible to all that you’re looking for!Posted by Tom Crimmins Realty on