What Happens During the Final Walk-Through?
When buying a home, the process can be overwhelming—especially with current market conditions like low inventory and rising interest rates. While you might feel pressured to skip steps like home inspections, one thing you shouldn’t overlook is the final walk-through.
The final walk-through gives buyers a last chance to ensure the property is in the expected condition before closing. If repairs were negotiated with the seller, this is the time to confirm they were completed correctly.
Who Attends the Final Walk-Through?
Typically, the buyer and the buyer’s agent conduct the walk-through. Sellers and their agents are usually not present, allowing buyers to inspect the property at their own pace. If it’s a new build, a contractor may join to address cosmetic issues and meet the high expectations of new construction buyers.
If any issues were flagged during the initial home inspection, it’s wise to have your inspector revisit before the final walk-through to ensure repairs meet standards.
Scheduling and Duration
Final walk-throughs are usually scheduled within 24 hours of closing. Many buyers choose to complete the walk-through the night before closing or on their way to the closing itself. A small home might only require 15 minutes, while larger properties or homes with amenities like pools may take an hour or more. Take your time to verify every detail.
Key Points to Remember: It’s Not an Inspection
A final walk-through is different from a home inspection. It’s a chance to confirm any agreed-upon repairs have been made, not to uncover new issues. Your agent should bring essential documents, including the seller’s disclosure, inspection report, and any repair amendments. They should also bring receipts for any repairs to ensure everything is in order.
What If You Find a Problem?
If you discover a major issue during the walk-through, you have options. Around 5% of contracts are terminated because of unmet contingencies, but minor problems usually don’t have to be deal-breakers. You can negotiate for a closing credit, delay the closing to allow for repairs, or discuss solutions with the seller. If the issue is significant—such as missing appliances or property damage—you may consider your legal options based on the contract terms.
Can You Back Out?
Backing out due to final walk-through findings is rare and typically only happens if there’s a substantial, unexpected change in property condition. Working out small issues through negotiation is usually the best path forward.
Don’t Skip the Final Walk-Through! Ensure peace of mind with this crucial step before closing. Ready to buy or sell a home? Contact me today to make the process smooth and stress-free!
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