What an exciting day; the day you close your new home! A few days before, his REALTOR called to set up the date and time of the last tour. You thought, “This is great! I needed to check the paint color in the kitchen, and my parents want to see the house.” But that’s not what the final tour is for. This is your last chance to view the property before you sign on the dotted line and close the sale. It is a date taken seriously. You need to focus and examine the condition of the property one last time.
The purchase agreement signed in the state of Minnesota requires the seller to ensure that mechanical systems, including: central air conditioning, heating, plumbing, and wiring, are in good working order on the closing date. It also assures the buyer the right to a review of the property before closing. This is not something to give up. A few years ago, there was a news report of first time buyers who had just closed on their new home. They had intended to move in right after closing, but arrived to find a nightmare. In the time since I saw the house and wrote a purchase contract, a pipe had burst and flooded the entire house. They skipped the final run because they felt it was a waste of time. They became the proud and very frustrated owners of a huge mess. Although they may have legal recourse to repair the home, these buyers would have been in a much better position had they negotiated with the seller prior to closing. Or in the case of this extreme damage, the buyers may not have signed the final documents to purchase the home.
Each buyer should take a final home tour as close to closing as possible. I suggest to my clients that we schedule the tour immediately before closing. We meet an hour before at the house to review the state of the property and then go directly to closing. Any issues are noted and I immediately contact the seller’s agent so they have time to discuss the situation with their seller prior to our arrival. Walking right before closing doesn’t eliminate all the surprises a new buyer might face.
But it significantly reduces the chance of shutting down in an unknown disaster. Here’s a quick guide to some of the areas to consider during a final walkthrough. end tour guide
Double check the paperwork **Are all work orders complete?
exterior review **Ask for changes abroad since the purchase agreement.
plumbing check **Review any plumbing changes since the purchase agreement.
Interior Rooms Review **Please inquire for changes to the interior since the purchase agreement.
electrical review **** Check for any changes to the electrical system since the purchase agreement.
Furnace and air conditioning inspection Overhaul of the attic and basement **Ask for any changes from the purchase agreement.
The final run should be done with a COMPLETE CHECKLIST and an organized plan. After an inside and out home inspection with a checklist, it’s back to the exciting part of that final walkthrough… Will the new sofa look better here or there?
