Final Walkthrough Before Closing
You’ve picked out your dream home, negotiated the price, and waited patiently through the process of escrow. You’ve signed countless documents. It’s almost time for escrow to close (and to sign countless more documents) and while the bank finishes the last few details; another credit check, calling to make sure you still have a job, making sure you didn’t just buy a brand new truck with a massive payment; you get to do the final walkthrough on the home that is nearly yours. Sounds like an easy task, maybe you’re even looking forward to it. So what could go wrong?
You can contact me, John Conca, at 530-306-3494, if you are searching for a home anywhere in El Dorado county, or if you are ready to sell your home. I’d be happy to discuss your options with you. You can find new Placerville listings here.
You’re Almost Home
If you are going through conventional financing then escrow will last you somewhere around 30 days. Once you are near the end of that and ready to do the final walkthrough, you’re feeling home free and nearing the finish line! You’re probably already planning paint colors and furniture layout. Delays from the final walkthrough can be upsetting, but aren’t the norm.
What Could Go Wrong?
The final walkthrough is done to make sure that all things agreed upon, like repairs, by the buyers and sellers are taken care of. It’s also to ensure that anything the seller said would be part of the sale of the home, a chandelier for instance, is still there and in the condition the sellers promised. But what if everything isn’t how it should be? What if something is missing? Most people feel better when they are prepared for what could happen, so I’m going to share some problems I’ve encountered on the final walkthrough and how they’ve been handled.
Missing Switch Plate Covers
On one final walkthrough I found that the sellers decided that they wanted to take their switch plate covers with them. Since having switch plate covers is a safety issue I just went down to Home Depot and bought them and brought them back to the house. The sellers reimbursed me and there was no delay with this issue. It was, however, mildly puzzling.
One home had a missing shower head which wouldn’t normally be a big deal, but the Real Estate Appraiser made note of it, so instead of installing the buyer’s old shower head into their new home’s only bathroom, we had to do everything very officially. That means we had to hire a contractor, buy the shower head and pay him to install it, which cost extra and added 3 days on to their closing date. That was slightly frustrating.
There was one walkthrough where I moved a curtain and the window behind it was broken. The window broke while the sellers were moving furniture out. Though, they may have had movers who did the damage and tried to cover it up. With that one the seller had to weigh the price of homeowner’s insurance deductible and the cost for the glass. It was cheaper to just replace it on his own, so that’s what was done and ended up delaying closing by a week.
It All Gets Sorted Out By Closing
As stressful as it can seem to have plans delayed and expectations altered, I recommend taking some deep breaths and trying to get through it as calmly as possible. We have a choice when we react to something, and staying positive makes it so much easier on everyone and helps keep your memories positive. Deciding that the delay is awful and then feeling bad over it is just wasting your energy. If you can work delays into your expectations, all the better. Unfortunately, delays in real estate are not unheard of, so expecting them would put you ahead of the game.
I hope this post serves you well. Please feel free to browse my website and follow my blog for updates on local events, real estate news, timely home maintenance suggestions and tips for buyers and sellers.