The final walkthrough is your last chance to make sure the home is in the condition you agreed to buy. It usually happens a day or two before you sign the closing documents, including the Closing Disclosure. This is not a time for a full home inspection. You already did that weeks ago. The walkthrough is meant to confirm that nothing has changed for the worse since your offer was accepted. The seller should have moved out, cleaned up, and left the property as promised. Your goal is to spot any new damage, missing items, or broken systems that need to be fixed before you hand over the money.Start by checking that all the big-ticket items are still there and working. Turn on the furnace, the air conditioner, the water heater, and the dishwasher. Let each run for a few minutes. Listen for strange noises. Feel for hot or cold air coming from the vents. Open the refrigerator and freezer doors to make sure they are cold and the seals are tight. If the seller agreed to leave certain appliances like the stove or the microwave, confirm they are still in place and work. Flip light switches in every room. Test outlets with a phone charger or a small lamp. If anything seems off, write it down and take a photo.Next, look for water damage. Check under sinks, around toilets, and near the washing machine hookups. Open cabinet doors and look for signs of leaks—damp wood, rust, mold, or standing water. If it rained recently, look at the ceilings and walls for new water stains. A tiny drip might not be a deal breaker, but you want to know about it before you own the house. Walk around the outside of the home too. Look at the gutters, downspouts, and the foundation. Make sure the yard is reasonably clean and that any debris from the move has been removed.The seller is supposed to leave the house empty unless the contract says otherwise. Check every closet, attic, basement, and garage for trash or leftover belongings. If the seller agreed to leave a washer and dryer, make sure those are still there. Also check that they removed any items they promised to take, like an old shed or a pile of firewood. If you see anything that does not match the contract, bring it up with your real estate agent right away.Windows and doors deserve a close look. Open and close every window and door. Make sure they lock properly. Check for cracked glass, broken screens, or weather stripping that is peeling away. If a window is stuck or a door does not latch, you will want that noted. Also look at the floors. Are there new stains, holes, or scratches that were not there before? The seller may have moved furniture and left marks. That is usually acceptable for normal wear and tear, but if a large piece of furniture was dragged across the floor and left a deep gouge, that is a problem.Do not forget to walk through the garage. If the garage door has an opener, test it. Make sure the safety sensors work by putting something in the path of the door. Check the garage ceiling for signs of leaks. If there is a storage loft, make sure it is empty and stable. If the home has a basement, look at the sump pump. Pour a bucket of water into the sump pit to see if the pump kicks on and drains properly.Finally, bring a copy of your purchase agreement and any repair addendum. The seller may have agreed to fix certain things, like a leaking faucet or a broken garage door opener. Verify that those repairs were actually done. If you cannot tell whether a repair was made, ask your agent to contact the seller’s agent. You can also bring a small flashlight to look into dark corners and crawl spaces. Being thorough now can save you headaches after you move in.If you find problems during the walkthrough, do not panic. Most issues can be handled without killing the deal. For small things like a dirty floor or a missing light bulb, you might decide to let it go. For bigger problems like a broken furnace or a serious water leak, you can ask the seller to fix them or give you a credit at closing. Your real estate agent will help you negotiate. But keep in mind that the final walkthrough is not a time to demand upgrades or cosmetic changes you never asked for before. Stick to things that affect the safety, habitability, or value of the home.You should also have received your Closing Disclosure a few days before closing. This document lists the final terms of your loan, including the interest rate, monthly payment, and closing costs. Compare it to the Loan Estimate you got earlier. If anything looks different, ask your lender why. Do not wait until the walkthrough to check the Closing Disclosure. Make sure you understand every number before you arrive at closing. The walkthrough and the Closing Disclosure are two separate checks—one on the property, one on the paperwork. Both need to be right.After the walkthrough, if everything looks good, you are ready to close. If there are issues, get them resolved in writing before you sign. Remember, once you sign the closing papers and take the keys, the house is yours. The final walkthrough is your last chance to protect your investment. Take it seriously, but do not stress over tiny imperfections. Focus on what matters: the home is safe, sound, and as promised.
Yes, HOA fees can and often do increase. The HOA board conducts annual budgets and may raise fees to cover rising costs for services, utilities, and insurance. Special assessments (one-time fees) can also be levied for unexpected major repairs that the reserve fund cannot cover.
You will receive proactive updates at every major milestone, such as when we receive your documentation, after the underwriting decision, and when we are clear to close. You are always welcome to check in for a status update, and we provide access to a secure online portal where you can view your loan’s progress 24/7.
A conventional loan is a mortgage that is not insured or guaranteed by a government agency (like the FHA, VA, or USDA). They typically require a higher credit score and a larger down payment (often 3%-20%) compared to government-backed loans and are conforming if they meet loan limits set by Fannie Mae and Freddie Mac.
For any non-standard income, documentation is key.
Rental Income: Provide a copy of your lease agreement and the last two years of tax returns showing the rental property is reported.
Bonus/Overtime: Provide pay stubs detailing the bonus and your last two years of tax returns to show this income is consistent. A letter from your employer may also be required.
The risks are substantial for both the borrower and the lender:
For the Borrower: Extremely high interest rates, risk of foreclosure if you cannot keep up with three separate mortgage payments, and potentially damaging your credit score.
For the Lender: High risk of loss if the property is foreclosed, as the proceeds from the sale would go to the first and second mortgages first.