Don't Close on Your New Home Without Conducting a Final Walkthrough - Here's Why
If you're buying a home, there are many steps you need to take before the purchase is complete. One of the most important steps is the final walkthrough. This is your last chance to inspect the property before you take ownership. Skipping this step could lead to costly surprises after the sale.
When do I conduct a final walkthrough?
A final walkthrough is typically done 3-4 days before the closing date. Why? Because here in Arizona, the Final Walkthrough form has a 3-4 day cure period. During this visit, you will inspect the property to make sure it is in the same condition as when you made the offer. You will also make sure that any repairs that were agreed upon during the negotiation process have been completed.
Here are a few reasons why conducting a final walkthrough is so important:
Ensure the property is in the same condition: The final walkthrough gives you a chance to ensure that the property is in the same condition as when you made the offer. You will want to check that the appliances are still working, that the plumbing is functioning properly, and that there are no new damages to the property.
Verify repairs have been completed: If the seller agreed to make repairs as part of the negotiation process, the final walkthrough is your chance to make sure those repairs have been completed. This is particularly important if the repairs were significant or costly.
Address any last-minute issues: Sometimes, issues can arise right before closing. For example, the seller may have accidentally damaged the property during the move-out process. The final walkthrough gives you a chance to identify any last-minute issues and address them before the sale is final.
Peace of mind: Finally, the final walkthrough gives you peace of mind. It's a chance to make sure everything is in order before you take ownership of the property. This can help you avoid unexpected expenses down the road.
Tips and Tricks
When conducting a final walkthrough, there are a few things you'll want to keep in mind. First, bring a checklist of things you need to inspect. This will ensure you don't forget anything important. Second, bring a camera or take photos with your phone. This will help you document any issues you find. Finally, don't be afraid to ask questions. If you're unsure about something, ask your real estate agent or the seller's agent.
Final Thoughts
In conclusion, conducting a final walkthrough is an essential step in the homebuying process. It ensures that the property is in the condition you expected and that any repairs have been completed. By taking the time to do a final walkthrough, you can avoid costly surprises down the road and have peace of mind knowing that everything is in order before you take ownership of the property.
