Learn what to expect during a final walkthrough during the sale of a property.
If you're currently in the process of purchasing a home or selling one, you should expect that a final walkthrough will occur sometime before closing.
A final walkthrough is a brief visual inspection of the property by the Buyer(s), which occurs just before closing after all inspection issues have been resolved.
While a final walkthrough is not always required, it is generally encouraged. The purpose of the walkthrough is to verify the property's current condition, meaning:
- All work agreed upon in the contract has been completed
- All utilities are still functioning as expected
- No damage has been sustained
- No condition exists which breaches the current contract
If for some reason any of the factors above are not true, the buyer may have options within the contract to make additional requests or even exit the contract if for instance the contract was breached by the seller (all of which depends on the agreements made in the contract).
What should the buyer expect?
Sometime before you close on the property, your agent should reach out to you to schedule a date and time to conduct the final walkthrough.
They will accompany you on this visual inspection of the property & make note of anything that may need to be addressed before closing such as unexpected damage to the property, utilities not functioning as disclosed, items agreed upon in the contract left outstanding (such as repairs), etc.
Typically the agent will collect any keys, garage door openers, or other property access items & hold them until the closing date & once all funds have cleared with the title company. They will then pass those items along to you.
What should the seller expect?
Sometime before the closing date, the other agent will conduct the final walkthrough with their buyer.
They will advise you or your agent of the date & time this will take place. They may make note of anything that should have already been addressed such as unexpected damage to the property, utilities not functioning as disclosed, items agreed upon in the contract left outstanding (such as repairs), etc.
The agent may collect any keys, garage door openers, or other property access items & hold them until closing has occured & all funds have cleared with the title company. Your agent, should you choose to be represented, will coordinator all of this on your behalf.