Auditing and Corporate Governance

When Do You Do the Final Walk-Through?

Master the essential final check before closing on your new home. Ensure property condition and secure your investment.

The final walk-through is a crucial step for homebuyers before closing. This inspection provides a final opportunity to assess the property’s condition, ensuring it aligns with contractual agreements. It is an important measure to protect a buyer’s interests and confirm the home is ready for occupancy.

Purpose of the Final Walk-Through

The final walk-through verifies the property’s condition matches the purchase agreement’s terms. It confirms all agreed-upon repairs from previous inspections have been completed. Buyers also ensure no new damage has occurred since their last visit, especially after the seller has moved out. This is the last chance to verify all contract-specified fixtures and inclusions are present and in proper working order.

Timing of the Final Walk-Through

The final walk-through typically occurs 24 to 48 hours before the scheduled closing date. This timing allows sufficient time to address any last-minute issues without significantly delaying closing. It also minimizes the chance of new problems appearing after the inspection but before ownership transfer. The home should be vacant for a thorough assessment.

Key Areas to Inspect

During the final walk-through, assess the property’s interior and exterior. Check walls, ceilings, and floors for any new damage that may have occurred during the seller’s move. Visually inspect the roof and foundation for obvious issues.

Confirm the proper functioning of all systems. Test plumbing by flushing toilets, running water in sinks and showers to check pressure, drainage, and for leaks. Test electrical outlets, light switches, and any built-in features like exhaust fans.

Test the heating, ventilation, and air conditioning (HVAC) system in both heating and cooling modes. All appliances included in the sale, such as the dishwasher, refrigerator, washer, and dryer, must be present and operational. Verify all agreed-upon repairs from previous inspections have been executed to an acceptable standard.

Review the property’s cleanliness; it should be broom-clean and free of excessive debris. Confirm that all inclusions are present, and that any excluded items have been removed. Inspect the exterior and yard areas for new damage or significant changes to the landscaping.

Addressing Discovered Issues

If issues are identified during the final walk-through, immediate documentation is crucial. Take clear photos or videos as evidence. This visual record is invaluable when discussing discrepancies.

Promptly notify your real estate agent, who will communicate with the seller’s agent. Depending on the severity of the issues, resolutions may include the seller making repairs before closing, negotiating a price adjustment, or a credit at closing.

Funds may be placed in an escrow account for repairs if they cannot be completed before closing. The purchase contract typically contains clauses that outline how such issues are handled, and significant problems could delay closing. The contract often addresses the property’s condition at closing.

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