Doing a final walk-through is often one of the last steps that a buyer has to take before purchasing their new home. Read on below to learn what a final walk-through is, how this process works, and what you need to keep an eye on while conducting one of your own.
What is a final walk-through?
In a real estate transaction, the final walk-through takes place shortly before settlement (closing). It’s a chance for the buyers to check on the condition of the property, to verify that any negotiated work has been done on the home, and to further familiarize themselves with the home’s systems.
Typically, the sellers and the listing agent will not attend the final walk-through. This is to ensure that the buyers have the freedom to thoroughly inspect the property without feeling pressured.
What to check during the final walk-through
With that in mind, here is a list of the things that you should be sure to check during the final walk-through.
Do a visual inspection of the outside of the home for any obvious damage.
Run the heating and air conditioning.
Turn on and off all the lights.
Test all the major appliances.
Run all the faucets and check for leaks.
Flush all the toilets and check for leaks.
Open and shut all the doors and windows.
Verify that any agreed upon repairs have been made.
Verify that any fixtures that are supposed to be left behind is still in place.
Tips to ace your final walk-through
Leave plenty of time
Since this is your last chance to view the home before you buy it, you’ll want to take your time when doing the final walk-through. In light of that, be sure to leave plenty of time to do this task.
Bring your Agreement of Sale and inspection reports
A large part of the final walk-through is making sure that any agreed upon repairs have been made and any agreed upon items have been left behind. All of those things will be outlined in the Agreement of Sale and inspection reports. Bring them along with you to the walk-through so you don’t forget anything in the moment.
Make a list of any questions
If you have any questions about how the home’s systems work (or anything else) write them down. You’ll want to be sure to get your questions answered before you sign on the dotted line.
Don’t be afraid to take photos
If you find any damage in the home or see any negotiated repairs that have not been made, don’t be afraid to take photos. You can use them as evidence when negotiating the proper fix.
Article by Tara Mastroeni for Forbes.com. Click here to read more.