Massachusetts Real Estate- Merrimack Valley
Buying a home can be an exciting journey filled with many twists and turns. Sometimes it can be nerve-wracking and other times very exciting. You have spent months looking at homes, negotiated an offer, did your home inspection, negotiated repairs after your inspection and now it is time to do your final walkthrough before closing on your new home.
Your final walkthrough shouldn’t be skipped. The final walkthrough is a necessary task before you close on a home. It is your final chance to make sure the home is in the condition you expected just before closing on a home.
A final walkthrough is an opportunity for a home buyer to inspect a home. The final walkthrough before closing ensures the buyer’s new home is being delivered as spelled out in the purchase contract.
During your final walkthrough you will check to see that the home is in the same condition as you last saw it, the seller has performed any negotiated repairs, everything is in working order and there is no new damage to the home.
A final walkthrough should be done just prior to closing. Anywhere from just before closing to 48 hours before closing.
The time to do your final walkthrough is after the sellers have completely vacated the property.
Ideally, if the home seller vacates a day or two early that is best for the homebuyer. But in reality, sometimes the seller’s move goes right up to the closing.
You want the home vacated for the walkthrough so you ensure items are not left behind for you to trash and you can easily inspect the home.
Start talking about the final walkthrough with your buyer’s agent 10-14 days prior to your closing.
This allows time to set expectations for both the buyer and the seller. If they vacate a day before closing this allows time to fix or negotiate any walkthrough issues.
You and your real estate agent should both attend the final walkthrough. Often the seller’s agent will be present as well. But, really anyone can be present.
On occasion, the home seller will be present. Though as a buyer’s agent I prefer they don’t attend. The final walkthrough just prior to closing is for your benefit and I don’t want my homebuyer’s distracted with idle chit chat.
Sometimes, if there are items like a hot tub, generator, etc… is present the seller can give a quick tutorial of how to run the equipment if they are present. That can be done at the final walkthrough or at a previous get together.
As you are walking through the home you should expect the following as spelled out in your purchase and sale agreement:
Be prepared with the following before walking through your new home before closing.
Be prepared and refresh your memory by reviewing all pertinent documents. What should you look for during your final walk through?
Walk the exterior of the home.
**** special note. A pet peeve of mine is sellers leaving a whole slew of dried up paint, polyurethane and chemicals “for the buyers”. If the paint is not a current color and is only a few years old leave it. But have the seller remove everything else. It can be a major nuisance and cost to remove those items.
Yes, a buyer can walk away from the purchase if the home is not being delivered as stated in the terms of the contract and the seller is unwilling or unable to rectify by closing.
You should not go into your last run through of the home with the idea you can back out because you have cold feet. But, you should also not take on any issues that are going to cost you a lot of money, time or create a safety or health issue for your family.
Remember you intent is to buy and the sellers intent is to sell. Work through any last minute problems.
In the 20 years I have been a real estate agent, I have only had one buyer back out because all of the copper was stolen out of a vacant house between the home inspection and the final walk though.
In that time, I have had many deals with last minute walkthrough problems and tensions running high. But, a solution has always been worked out so the buyers can close on their home.
Not every home walkthrough is going to to go smoothly and problems may arise. This is when it time to negotiate. It is also time to have an agent at your side that represents you!
First thing to do is immediately notify the listing agent of any home walkthrough problems immediately with what you are expecting as a resolution. It may be a good idea to send pictures to show what the issue is as well. If you are being represented by an attorney notify them as well.
The good news is as a homebuyer headed to closing, you have a little bit of an upper hand. The seller must perform or risk being dragged into court for an ugly battle they will lose. And, when they lose, not only will they have to deliver the house, they may have to pay you damages and your legal fees. It can be quite costly for a seller to default on a home sale.
With that said no one wins if it goes to court. Try to find a solution to the problem ahead of time to prevent a costly legal battle.
If a final home inspection problem does arise here are some solutions that can be considered.
Home sellers need to be prepared to prevent final walkthrough problems. It can turn into a nightmare if you don’t take it seriously. Make sure you understand how you are to deliver the home and what is staying and going during the purchase.
You are in a legal and binding contract to perform. A home buyer can back out after a final walkthrough if you have not delivered the house as agreed to in your purchase contract.
Your final walkthrough is a big deal. You have spent a ton of money to purchase a home, don’t take on problems that you don’t need to.
Be prepared for that final inspection of your new home. Don’t be afraid to ask questions and certainly don’t accept anything less than you agreed to with the seller unless it is truly a minor issue.
Danny Margagliano covers some of the big repair requests you want to take care of before you move into a home. In most cases you should expect a house’s systems to be functioning, it to be sound and safe.
Closing costs can sometimes be overlooked. Glenn Shelhamer covers what to expect for closing costs when purchasing a home.
Thinking of buying a fixer-upper? Michele Gibson gives us 4 tips to consider before you pull the trigger on that home that needs a ton of work.
A great way to avoid home inspection and even final walk through issues is to have a pre-home inspection. Bill Gassett discusses the benefits of having your home inspected before you sell.
Don’t take your home inspection lightly. Paul Sian provides an excellent home inspection checklist to get you ready for your home inspection.
The Ultimate Final Walkthrough Checklist Before You Close, was provided by Kevin Vitali, a Massachusetts REALTOR. Let Kevin’s many years of experience be put to work for you. Call 978-360-0422.