Explaining the Basics and Value of a Final Home Walk-Through
If you’re nearing the end of your mortgage and home search process an are preparing to close on a new home, chances are you’re extremely excited to begin the process of moving into a great new space. At the same time, it’s important not to lose sight a few final details that must be completed before you’re in the clear.
At Primary Residential Mortgage, we’re proud to offer a variety of mortgage programs and options to help you get into the home of your dreams. In addition, we’ll ensure you’re prepared for any details that might come up at any point in the process. One big theme to keep in mind as you’re preparing to close on a home: The final walk-through. What is this meant for, and what are some approaches you should take? Here’s a primer.
What a Final Walk-Through is For
A final walk-through is a chance for you to ensure that everything in the space is the same as it was when you first looked at the home and determined you wanted to buy it. It’s generally performed in the days leading up to a home settlement and closing.
During a home walk-through, you’ll look at basic areas like electrical outlets, heating and air concerns, plumbing fixtures and related items. If your sale agreement includes any specific repairs to be carried out by the seller, you can also check to confirm these have been completed as required.
What a Final Walk-Through is Not For
On the flip side, it’s important to understand that a final home walk-through is not meant to be a re-negotiation or haggling period in any way. While you are well within your rights to ask the seller to cover any major negative changes that have taken place in the interim since you last saw the home, and you can certainly demand agreed-upon repairs be made if they have not been, this is the extent of things on this side of the coin. This is not a home inspection or a contingency of sale in any way, and you can’t simply decide to change your mind on the purchase based on any other factors.
Vacant or Occupied?
One important consideration for any final home walk-through is whether the seller remains present at the time. If the house has been vacant for days or weeks, it’s important to consider HVAC and other factors that may have suffered as a result.
If the owner is still in the home, keep in mind that they’re still preparing the home and a few things may look a bit out-of-place as a result. If possible, we highly recommend performing these kinds of walk-throughs when the seller is physically present – that way, they can explain anything that looks weird so there’s no misunderstanding.
For more on a final home walk-through before a purchase, or to learn about any of our mortgage services, speak to the staff at Primary Residential Mortgage today.
*PRMI NMLS 3094. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Opinions expressed are solely my own and do not express the views of my employer.
