A final walkthrough is the last opportunity to ensure that the property you are purchasing is in the agreed-upon condition before closing. This crucial step allows buyers to verify that negotiated repairs have been completed and the home is ready for move-in. Skipping this step can lead to costly surprises and unfinished work that could delay your plans.
Why the Final Walkthrough Matters
The final walkthrough is not a home inspection but rather a chance to:
- Confirm Repairs: Ensure that all requested and negotiated repairs have been completed as specified.
- Check Property Condition: Verify the home is in the same or better condition as when the offer was made.
- Ensure Fixtures and Appliances Remain: Confirm that agreed-upon fixtures and appliances are still in the home.
- Avoid Last-Minute Surprises: Identify any potential problems that could affect closing or move-in.
How to Conduct a Final Walkthrough
1. Schedule the Walkthrough Close to Closing
- Arrange the walkthrough as close to the closing date as possible, typically 24-48 hours before signing.
- This ensures any last-minute issues are addressed promptly.
2. Bring Necessary Documents
- Inspection Report – Reference to ensure all flagged issues were resolved.
- Repair Agreements – Verify agreed-upon work is complete.
- Purchase Agreement – Confirm all negotiated terms regarding fixtures, appliances, and included items.
3. Create a Checklist
- Structural and Repairs: Verify all agreed-upon repairs were completed properly.
- Plumbing: Run faucets, flush toilets, and check for leaks.
- Electrical: Test lights, outlets, and switches.
- HVAC: Ensure heating and cooling systems are operational.
- Appliances: Test major appliances to confirm they are functioning.
- Doors and Windows: Open and close to ensure they latch properly and locks work.
- Final Cleanliness: Confirm the property has been cleared of the seller’s belongings and is in move-in-ready condition.
4. Document Any Issues
- Take photos or videos of unfinished repairs or damage.
- Note discrepancies and immediately inform your real estate agent.
What to Do If Issues Are Found
- Negotiate a Credit: If repairs are incomplete, consider negotiating a credit to cover the cost of completing the work yourself.
- Request Delayed Closing: In serious cases, request a delay in closing until the repairs are complete.
- Escrow Holdback: Arrange to have funds held in escrow until repairs are finalized.
Tips for a Smooth Walkthrough
- Bring Your Agent: Your real estate agent can help advocate on your behalf.
- Inspect Methodically: Take your time and review each room carefully.
- Test Everything: Don’t assume; physically check all fixtures and systems.
Conclusion
A final walkthrough is an essential part of the home-buying process, ensuring that the property you are about to purchase meets the agreed-upon terms and expectations. By conducting a thorough walkthrough and addressing any last-minute concerns, you can proceed to closing with confidence and peace of mind. This final step helps protect your investment and sets the stage for a successful move into your new home.