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Homeside: Your Modern Mortgage Blog

Don’t Skip The Final Walkthrough When Buying A New Home

Posted by Rachel Guthrie on February 20, 2016

Buying your first home can be a very overwhelming process with many items to check off your to-do list. It might be easy to cut corners and skip out on some parts of the process because you simply don’t have the time.

However, your final home walkthrough before closing on your new home is extremely important and is one meeting that you shouldn’t skip.

Make sure all contractual repairs have been made.

The final walkthrough usually occurs 1 week to 24 hours prior to closing. The purpose of the final walkthrough is to ensure that all of the agreed up repairs in your contract have been met and nothing has changed since your last walkthrough. Keep in mind the final walkthrough is not an inspection, as the inspection should have already been completed. The walkthrough confirms that all of the agreed requests for remedy that came out of the inspection have been handled properly.

After the home inspection and first few home visits, the buyers can work with their realtor to negotiate the contract after seeing a professional’s evaluation of the home. They may work with the seller and seller’s agent to come to an agreement on items that need to be fixed, or “remedied,” or discuss potentially dropping the selling price if the sellers do not wish to physically make the repairs or call in professionals to make the repairs.

Make sure nothing has happened to the home since your last visit.

The final walkthrough is particularly critical to ensure that nothing has happened to home since you’ve last seen it, especially if it is vacant. For example, someone could have accidentally left some water running in a sink causing extensive water damage in the home. These things can happen more often than one would think and after bringing your down payment to closing and preparing for your big move, you don’t want any unanticipated costs impacting your wallet.

Look thoroughly through each room of the house, checking for leaks, testing outlets, fireplaces, and electrical options, and double check that the seller has left all the fixtures that both parties have agreed upon.

Dedicating 1-2 hours for your final walkthrough is an extremely important investment of your time. The last thing you want is added stress during your first few weeks in your new home. 

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