Ensure your dream home remains just that right up to closing with a final walkthrough. It’s your last opportunity to catch any discrepancies and confirm that all agreements have been met before the keys change hands. “Ninety-five percent of the time, the buyer does take advantage of their contractual right to do a final walkthrough prior to closing,” says Diane Keane, a top real estate agent in Delray Beach, Florida, who sells homes 55% quicker than her market’s average agents. “It’s in the seller’s best interest to be prepared so that things go smoothly and the closing is not held up.” In this guide, we’ll help you understand the purpose of a house walkthrough and how to make sure there are no last-minute hiccups that could delay the sale. The buyers of your home need to know that they’ll take possession of the house in the condition you’ve promised to leave it in. That’s why most state real estate contracts give buyers an opportunity to schedule a final walkthrough before closing. The final walkthrough is not an official inspection, but it is the buyers’ last chance to perform a checkup and make sure there are no surprises that go against the terms of your contract. You’re obligated as a seller to leave the house in “broom clean” condition when you move out, which means swept, vacuumed, and free of debris or excess stuff the buyers haven’t agreed to keep. If you fail to meet these standards, buyers will bring it to attention before the deal can close, and you’ll have to come to an agreement to remedy the situation. Ultimately, issues that crop up during the walkthrough could cost you in the form of closing delays or a hit to your bottom line. Typically, the final walkthrough takes place on closing day or the day before closing. The walkthrough date is a negotiable point between the buyer and seller, so it could technically happen a week or two prior to closing, but that’s usually not in a buyer’s best interests. “A lot can happen, even in a week, if the seller has already moved out and the house is vacant,” explains Keane. “That’s when the toilet leaks and the roof leaks — when no one is there to notice it. It’s Murphy’s Law, but it definitely could happen, and a buyer’s safeguard is to do the walkthrough as close to closing as possible.”What is the final house walkthrough in a real estate transaction?
When does the final walkthrough occur?
