Final walk-through

ephraim2, first I would do a search here for previous threads on this (I'm sure there are plenty of things I'll miss in this post). Second, I'd urge you not to be bashful during a walkthrough. You don't want to be blatantly obnoxious, but you want to be thorough and make sure you're getting what you expected. Some major things to check:
* check plumbing for leaks; make sure toilets flush, showers/faucets work properly
* check electrical, all outlets
* check flooring for major cracks, evenness
* check windows and ceilings for any signs of leaks/water damage
* if you're keeping the appliances, make sure they work
* check heating; if there's central air, check that

Sometimes, you're right that these are just formalities, but don't expect that; otherwise, you may gloss over some stuff you'll regret later. Make a note of anything that wouldn't be a simple/quick fix for you. Good luck!

Some other discussions worth looking at:
http://streeteasy.com/nyc/talk/discussion/16042-closing-inspection
http://streeteasy.com/nyc/talk/discussion/3165-walkthroughs-punchlists
http://streeteasy.com/nyc/talk/discussion/3705-bringing-home-inspectors-to-walk-throughs

1.) To check the electrical outlets use this, all the 3 lights should light up if properly wired AND grounded.

http://www.amazon.com/Electrical-Receptacle-Outlet-Ground-Tester/dp/B0012DHVQ0/ref=sr_1_2?ie=UTF8&s=miscellaneous&qid=1280770253&sr=8-2

2.) Make sure your washer/dryer has TWO hoses (HOT & COLD). (Mine only had a cold line installed - Argh)

3.) Make sure it is drywalled/insulation-ed/silicone-up'd behind the washer/gasket around all pipes in the bathroom under sink/shower head and and under the kitchen sink. Mice and roaches come through here.

4.) Make sure all the "locks" work for the door handles for the bathroom and bedrooms (if you have them).

5.) Of course check all appliances work: refrigerator, ice-maker, wine-cooler, stove, microwave, HVAC -hot/cold : How is the noise/rattle? level, dishwasher, washer/dryer, etc..

Good luck....

Know what your contract entitles you to. None of "ProperService"'s suggestions should be first done at the final walk-through. They should be done prior to contract or within a designated period specified by the contract. I'm not sure any of them, except for the appliances providing a basic level of functionality, would be addressable on the day of settlement.

Make sure you have a decent quality digital camera and take pictures of anything controversial to show to your attorney, who can advise you as to whether or not your contract provides a remedy.

^------- You're right, ALL the listed things to look out for should have been addressed on the "INITIAL" walk through and the "FINAL" walk through is to make sure all the deficiencies from the initial have been corrected....

And make sure that you actually get all the items you bargained for, i.e. not only services in working conditions. For example: wall pictures, furniture, storage locker in the basement, etc. When we closed on our condo apartment a couple of months ago, one very important item was missing. We pointed the defficiency right away there was time to correct it. At that time we also called our Attorney right away and at Closing the two Attorneys (ours and the Vendor's) included the missing item in an Addendum to the Deed (and signed by the Vendor). In the end we got absolutely everything we were supposed to get! Hopefully you will not get surprises, but just in case... Maybe also ask for an advance copy of the Final Deed and read it carefully before the final money is paid to the Vendor.

I just locked in today a few minutes ago @ 4.125% on 30% down with TBI. My closing is actually end of this month so I had to act fast and I think I got lucky with this rate.

Is that for a co-op or condo and did you buy down the rate? Who is TBI, a broker?

yes how many points on that 4.125?

Sorry.. I accidentally posted in the wrong forum... was supposed to go in the NSP2 forum.
But anyways, it's for a condo with 30% down. TBI is a mortgage company.