The home buying process can be incredibly overwhelming. Regardless of how much you’re dying to close on your new home, don’t ignore a final walkthrough. Some people refer to this process as a “pre-closing inspection.”
As its name suggests, a final walkthrough is a physical home tour by its new owner. Most often a time, this is done a day before closing.
A final walkthrough is essential because it gives you a better picture of the property you plan to purchase. It lets you confirm that it looks the same way it did the last time you saw it. Many things could happen between then and the closing date. You don’t want to risk ignoring any damage or undesired modifications. The home’s current look should match what’s written in your contract (broom clean condition). The seller should have cleaned the property and removed all their personal items and debris.
Notably, this process is not another home inspection, so you don’t require to bring along a professional to check each detail of the house. Also, a final walkthrough doesn’t have to take the entire day. A few hours are enough, but it’ll depend on the property’s size.
Sometimes, after the home inspection, the home seller may need to make some repairs to your new Calgary home. A final walkthrough allows you to ensure they’ve kept their word. That’s why you should confirm all the features of the property are functioning properly. Here’s how you can do this:
Remember that the exterior of the house should look as good as the interior.
If you notice any issues during the final walkthrough, address them as soon as possible. How can you do this? Request the seller to fix them and delay the closing to give them enough time to do so. If they decline, you can take legal action or back out. Your Calgary realtor and real estate attorney should help you do this.
In case there are no problems, you’ll sign a form to declare you’re satisfied with this procedure’s findings.
A final walkthrough might be somewhat confusing for first-time home buyers. But this doesn’t mean it should be unsuccessful.
Ensure this process serves its purpose by knowing who needs to show up. Typically, the buyer and their Calgary realtor must be present. If the home is new, it’s prudent to invite the contractor to explain some aspects of the property. The home seller or their agent should not attend a final walkthrough. This grants you the freedom to scrutinize the property without being pressured by the seller or their realtor.
Another thing you can do to guarantee a successful final walkthrough is to take your time. This is your last chance to ensure your investment is in good shape and worth every dime you’re paying for it. However, you should not hurry over this process. It’s recommended that you begin preparing for this process the day before. Create a list of all the things you must check during the final walkthrough. This way, you’ll ensure you touch almost every aspect of the home you need to inspect.
Finally, consider a second final walkthrough if any unforeseen incidences occur between the first one and closing. These could be earthquakes, storms, floods, or nearby fires since they might damage your next home.
Unquestionably, a final walkthrough is an essential part of a real estate purchase. Although it’s not mandatory, it massively benefits the home buyer. Through it, they get a better look at the home they’re about to own and ensure it’s in excellent condition.