Last run | What is it and why is it so important?

As you approach the closing date, you’ve done almost everything to buy your home, but there’s still the last walk-through to complete. This is an important final step that can still bring trouble in your path.

Let’s take a look at the issues surrounding this final stage of the home buying process and the things you need to do.

What is a final run?

As a buyer, the final run-through ensures that you are sure that the property is in the expected condition. The house must not have materially changed from the condition it was in when you agreed to buy it. It is also an opportunity to check that any agreed repairs have been completed to your satisfaction.

Buyers are given the opportunity to do the last walk through the home just before the official closing day. This normally happens after the seller moves out, but that’s not always the case.

Why is a final run important?

If you decide to skip the last pass before closing, it can be a costly mistake. Things may have changed in the house since you decided to buy, such as replacing appliances or creating new damage.

Is a final run necessary?

If you don’t check the property before closing, you won’t know for sure that any repairs you agreed with the seller have been successfully completed.

Without a walk-through, you cannot discuss these issues with the seller and have them repaired at their expense.

If you discover something when you get the keys to the property after hours, it can be very difficult to get the seller to pay for the repairs. If so, the seller won’t have much incentive to pay the repair bill.

After all, you locked the building. So without a final run-through before signing your closing documents, any damage, unfinished repairs, or missing fixtures or appliances are your responsibility.

What should you check during the last run?

When buying a house, you should have undergone a home inspection and the walk-through should not be seen as a new inspection. The walk-through is more of a general look at the condition of the property so there are no major issues or damage.

It is common for minor damage to occur when furniture is removed from the house. While you may spot the odd scratch when going through the house, it’s not something you should take to the seller and demand repairs.

Damage beyond minor scratches should be brought to the attention of the seller so that it can be repaired at their expense. For example, if there are large holes in the wall or broken doors, it should be the seller’s responsibility to repair.

Things to check on a final walk-throughYou need to make sure all the major systems of the house are working. Test HVAC systems, electric garage doors, and any appliances included with the purchase. If these things don’t work as they were before, this should be discussed with the seller’s broker to resolve the issue.

If there is a major failure in a system in the home, the buyer can postpone the closure until they are satisfied. If these repairs cannot be completed before closing time, a portion of the purchase price may be placed in escrow. This ensures that the repairs or replacements are made and that the closure can continue on schedule. This can be important to sellers if they have already moved and expect to pay off the mortgage when the buyer closes.

Do not forget to check the garden. Sometimes vendors dig up plants or trees to take with them. If there is a pool, you should check that all equipment is there and working.

One of the last steps when buying a home is the final walkthrough, but what exactly is a final walkthrough and is it really necessary? #realestate #finalwalkthrough

Make a final checklist for walkthrough

Have a list of the things to check out so you don’t forget anything. The seller should have a similar final walkthrough checklist. These lists must include items that the seller has left as part of the sale, such as appliances and fixtures. The same appliances and fixtures should still be in the house when you do the last walk-through, as when your offer was made.

Final Walkthrough ChecklistSometimes the seller may want to take a device or fixture with you. But if this is the case, they can only remove it if it is excluded from the contract beforehand.

It’s not unheard of for sellers to swap expensive fixtures for cheaper items before closing. These types of tricks can be difficult to spot, but if discovered, a court may award compensation to the buyer.

You should also recheck any repairs that the seller had to make. With a copy of the inspection overview or repair request you can check whether everything has been carried out as agreed.

If the seller tells you that repairs have been made, don’t just take their word for it, test it. Find out about warranties and get repair receipts so you know who to contact if it fails again soon after. Doing so can save you some money if the failure happens again.

Has the seller moved completely?

Usually the seller has moved before you take the last step. This makes it easier for you to check the property and spot any defects that shouldn’t be there.

As you go through the house, check each room to make sure that not only have they left the things they should have, but they haven’t left anything behind. Check all closets, attic space, along with garages and sheds.

Does the house have to be empty for the last pass?You may notice that the seller has left behind old cans of paint or debris from home repairs. This should be their responsibility to deal with and not the buyers.

In some cases, the seller does not move until the closing day, or stays a little longer if this has been agreed with the buyer.

If this is the case, the buyer will take his walk with the present seller. This can be tricky and makes checking the condition of the house and any repairs more difficult.

The last run

You should not miss the last chance to check the property in the condition it should be in before signing the closing contracts.

If you find things wrong, you have some options without walking away from the purchase. A portion of the proceeds from the sale may be held in custody until repairs are completed, and if that cannot be agreed upon, you may need to take legal action to resolve the situation.

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One of the last steps when buying a home is the final walkthrough, but what exactly is a final walkthrough and is it really necessary? #realestate #finalwalkthrough

About the author

Top Wellington broker, Michelle Gibson, wrote: “Last run | What is it and why is it so important?”

Michelle has specialized in residential real estate since 2001 Wellington Florida and the environment. Whether you want to buy, sell or rent, she guides you through the entire real estate transaction. Are you ready to use Michelle’s knowledge and expertise, call or email her today.

Service areas include Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, West Palm Beach, Loxahatchee, Greenacres, and more.

Last run | What is it and why is it so important?