Understanding Final Walk-Throughs in a Real Estate Transaction

What is a Final Walkthrough?

A final walk-through in real estate refers to the last inspection of a property that a buyer conducts before the closing of a real estate transaction. It’s typically done on or just before the day of closing. The purpose of the final walk-through is to ensure that the property is in the agreed-upon condition, to verify that any requested repairs or agreed-upon changes have been made, and to make sure that no new issues have arisen since the last inspection.

Here’s what typically happens during a final walk-through:

1. Verification of Repairs: If the buyer and seller have agreed that certain repairs or improvements will be made before closing, the final walk-through is the time to confirm that these repairs have been completed satisfactorily. This could include items like fixing plumbing issues, replacing damaged fixtures, or addressing other issues identified during the home inspection.
2. Property Condition: The buyer will assess the general condition of the property to ensure that it hasn’t deteriorated since the last visit. This could include checking for any new damage, leaks, or issues that may have arisen between the time the property was last viewed and the closing date.
3. Appliances and Systems: The buyer might test appliances, heating and cooling systems, plumbing fixtures, and other key components to ensure they are in working order.
4. Utilities and Services: The buyer will often check that all utilities and services (such as electricity, water, and gas) are functioning as expected.
5. Personal Property: The final walk-through is also an opportunity to confirm that any personal property that was included in the sale, as stipulated in the purchase agreement, is still present and in the expected condition. This could include appliances, fixtures, or other items.
6. Cleanliness and Removal: The buyer may also check that the property has been properly cleaned and that the seller has removed all their belongings and possessions, as agreed upon.
7. If issues are identified during the final walk-through, the buyer and their real estate agent will need to address them with the seller. This could involve negotiating repairs, compensation, or other solutions. Depending on the severity of the issues, the closing might be delayed until the matters are resolved to the buyer’s satisfaction.

The final walk-through provides the buyer with peace of mind that the property is in the condition they expect before completing the purchase. It’s important for buyers to carefully conduct this inspection and communicate any concerns promptly to their real estate agent and the seller’s representative to ensure a smooth closing process. Should you have any questions about walkthroughs or selling a home, please feel free to contact me.