Getting Ready For Your Final Walk-Through

5 Tips for the Final Walk-Through

DATE:JULY 26, 2012 | AUTHOR: 

 

You’ve found the home you love, made the offer, and the seller has accepted. You’ve gotten yourinspections done, your loan is being finalized and an escrow closing date has been set.

Great. But you’re not quite finished yet.

Your next step is a final walk-through, arranged through your real estate agent, at least a week before closing. The goal: Ensure the property’s condition hasn’t changed since your last visit, that any agreed-upon repairs have been made and that the terms of your contract will be met. Depending on your contract or local customs, a walk-through may be informal or more formal. In a formal arrangement, you will actually sign a contract addendum confirming that you’ve done your walk-through and everything is as it should be.

Here’s what you need to know for your final walk-through:

  1.  A final walk-through isn’t a home inspection. You’ve already done that by now (or should have).
  2. Take your contract with you. You might need to refer to it while on site.
  3. In many markets, the buyers and sellers never actually meet in person. But if everyone is agreeable to the idea, perform the final walk-through in the seller’s presence. He or she knows the home better than anyone else and should be able to answer your questions and provide some color on the history of the home.
  4. If the home is vacant, it’s even more important to do a final walk-through. Since your last visit, for instance, someone might have left a faucet dripping, inadvertently causing water damage.
  5. Take along a checklist of things to do during the final walk-through, including:
  • Check the exterior of the home, especially if there have been strong wind or rain storms since your last visit.

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