The final walkthrough is a critical step when purchasing a home in Breckenridge-Frisco (or anywhere, really). Whether your home is a new build or you’re purchasing it from a previous owner this is one of the last steps in the buying process. And, more importantly, your last chance to ensure that you’re not getting any surprises. This is when you will verify that all repairs or upgrades that were agreed upon in the contract have been completed and no previously unknown issues have come up.
What are common issues discovered during the final walkthrough?
When your agent schedules your final walkthrough they will likely already have verified that all negotiated repairs have been made and you won’t be in for any surprises. But sometimes unfortunate things happen and these surprises can lead to a delayed closing. So, what are the most common issues that come up in a final walkthrough?
- The home is damaged from move out or, worse yet, items that should have been left with the home have been removed. It’s important to keep a copy of the purchase agreement close at hand and know exactly what was agreed upon before the final walkthrough.
- Agreed upon repairs have not been completed.
- The home is not clean!
- The HVAC system is not working.
- Appliances are not working or have been removed.
Final Walkthrough Checklist
No one wants the closing to be delayed because of an issue found during the final walkthrough. The best way to prevent that is to have a plan in place and a checklist in hand. What should you be looking for?
- Are all the faucets (hot & cold) working properly?
- Does each sink/show/tub drain?
- Do all of the toilets flush properly?
- Are there signs of any water leaks, water damage, or mold?
- Do all of the light fixtures and outlets work?
- Are all of the appliances in working order?
- Washing machine
- Garbage disposal
- Exhaust fans
- Do all the doors and windows open and close? Do they lock?
- Are all of the fixtures still attached? This includes window treatments, toilet paper holders, etc.
- Is there damage to the floors or walls? Pay close attention to any damage caused when the seller was vacating the home.
- Check around baseboards and in closets/cupboards for any signs of pest infestation.
- Check the HVAC unit and test the thermostat on hot and cold settings.
- Did the seller leave the garage door openers? Are they working properly?
Can a buyer back out during the final walk-through?
If an issue is found during the final walkthrough, then yes, a buyer can technically back out of the sales contract. But that is a rare occurrence and not usually necessary. In most cases, any issues that would cause the buyers to back out are found during the home inspection process. If something new is found during the final walkthrough, and it is not covered by contingencies in the sales contract, the buyer can still walk away from the purchase but will likely lose their deposit and could potentially be responsible for covering the seller’s fees as well (like inspection and appraisals).
The final walkthrough is a critical step when purchasing a home. It’s important to have a trusted real estate agent by your side and a good understanding of what to look out for. Closing on a new home is an exciting time and it’s easy to overlook some of the more obvious aspects of the last walkthrough.
I hope that you’ve found this information useful. If you want information on what the Breckenridge-Frisco area Real Estate Market is like right now don’t hesitate to reach out. I can provide you with a detailed market report!
Coldwell Banker Mountain Properties