You’ve negotiated the contract, you’ve done the inspection, you’ve sent the mortgage company all the papers they have asked for – and then some more! The appraisal is done, the utility companies have been called, the boxes are packed and most likely already loaded on a truck! What’s next?
The Final Walk-Through
Before you close on a real estate purchase, you will need to do a final walk-through of the home. This is your opportunity to make sure that all of the terms of your contract have been met and that the home is in the same condition as when you agreed to purchase it.
In advance of the walk-through, review your purchase contract to remind yourself of the items that are to be left in the house and any other details. Here are some of the things you should look for:
• Be sure that any items that were to remain in the house are still there and are in good working condition. This includes appliances, light fixtures, curtains, screens and/or storm windows, and garage door remotes.
• Check to see that any repairs that were required of the seller were completed or that there is a written timeframe for when they will be done.
• Look for any damage that may have occurred to floors or walls during the seller’s move. With the house empty, check to see if there is any water damage that was covered by rugs, furniture or artwork.
• Turn on all major systems, such as air conditioning, heat and plumbing, to make sure they are still in working order.
Taking a few extra minutes and bringing your “eagle eyes” to the walk-through will go a long way toward protecting your new investment.
Something to consider is when to do the walk-through; I will often have buyers – whether mine or someone else’s – ask if they can do the walk-through the day before or the weekend before closing. Remember that the walk through is an opportunity to make sure that the property is as you expect it, NOT a time for you to choose paint colors, take measurements or move in some stuff. What happens if you do the walk-through on Monday morning when you plan to close on Tuesday afternoon and there is a storm on Monday night. You don’t go back to the house until after you close… you get there and a tree has fallen across the driveway… or the basement is full of water… Don’t you want to find that out BEFORE you own the house? Do the walk-through on the way to your attorney’s office.
Basking Ridge Real Estate Market Update
Two properties have gone under contract this week and it’s only Tuesday! There’s been one new listing – and there haven’t been any closings … yet! Market absorption is 6.9 months.
Hoping to get to a final walk through one of these days soon? I can help you find your next home in Basking Ridge.
