Closing on your Lake Home Soon? Here are 7 Things to Check on Your Final Walk Through!
Your final walk through can be easy to rush through or even skip, but it is a very important step in the home buying process that should be done properly. It allows you to make sure that the home is still in the same basic condition it was at the time it was inspected, and that nothing has gone wrong with the house since you decided to purchase it. It also lets you see that all agreed upon repairs have been done and done correctly. It is not the same as a home inspection, you are not looking for reasons to negotiate additional repairs or add a contingency. It is really to make sure nothing has changed that needs to be addressed, and it should be done as close to closing as possible.
There are a few things that will be helpful to have during your walk through. Your home inspection report will include any issues the inspector recommended addressing, and will be your guide to making sure those things were fixed. Your home purchase agreement will be your reference for exactly what goes with the house from appliances to repairs that are to be included in the sale. It is also hand to have a camera, a pen and sticky notes, and a phone charger or night-light to use for testing outlets.
First you will want to check that any repairs that were supposed to be made are completed to your satisfaction. Then check to make sure there is nothing missing that you expected to be included with the home like appliances or fixtures. It is also good to take another look at the exterior … looking at the roof and gutters, looking for signs of termites, looking for any storm damage if there have been recent storms. Then inside the home, you will want to take a few hours to go through everything carefully. Here is a list of some of the most important things.
1) Check all light fixtures and outlets.
2) Run hot and cold water in all faucets making sure they drain well and do not leak, flush toilets multiple times and check for leaks inside and in the yard.
3) Test appliances to make sure they work normally
(stove, oven, fridge, dishwasher, etc.).
Check exhaust fans and the garbage disposal.
4) Test heat and air conditioning units.
5) Open and close windows and doors to ensure they open and close
properly. Check garage door opener and remote.
6) Look at walls, floors, ceilings and other surfaces one more
time to inspect for mold or any damage that may have been caused as the seller
moved out.
7) Make sure any debris or trash has been removed inside and
out as agreed upon, and that the home is basically broom clean.
If you find any big, unexpected issues in your final walk through, it is important to communicate those issues with your buyer’s agent. If the issues are small you might agree to a concession. But if they are big, you may want to ask the seller to put the cost of the repair in escrow so the closing can still go through on time. Some attorneys, banks, or title companies may want the repairs to be done first, and choose to delay the closing instead. Or if agreeable, both parties could make a summary of the walk through notating any faults the seller promises to resolve after closing day.
Buying a home at the Lake of the Ozarks is an exciting experience, and we are so happy for you as you start your new adventure. It is also a big investment and we want to make sure it is everything to hope for. The final walk through before closing on your home is the home stretch of the race. If you have any questions at all, Your Favorite Real Estate Team is here for you with the expertise you need to help you make your purchase of a home at Lake of the Ozark the best investment of your life!
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