Hey there, future homeowners and savvy sellers! As your friendly neighborhood realtor, I've seen it all when it comes to the journey of buying and selling a home. It's a rollercoaster of emotions, paperwork, and sometimes, a little bit of mystery! One of the most common questions I get from excited buyers (and sometimes a few anxious sellers!) is about that final walkthrough.
The final walkthrough is your last opportunity as a buyer to inspect the property before the title is officially transferred into your name. It’s not just a formality; it’s a crucial step in ensuring everything is as it should be. So, let’s dive into why this seemingly simple step is so important, what to keep an eye out for, and what happens if things aren’t quite right.
Why is the Final Walkthrough So Important?
From a buyer’s perspective, you’ve probably spent countless hours envisioning your life in this new space. You’ve pictured where the couch will go, what color you’ll paint the walls, and maybe even started planning your housewarming party! The final walkthrough is your opportunity to confirm that the home you’re about to purchase is in the condition you expect it to be in, as agreed upon in your contract.
For sellers, this is your chance to show off your hard work and ensure you’ve met all your contractual obligations. A smooth final walkthrough means a smooth closing, which is what everyone wants!
When Does This Actually Happen?
Typically, we schedule the walkthrough either an hour before closing or the day or two prior. Why so close? Because you want to see the house in the exact state it will be when you own it. If the sellers moved out three days ago and a pipe burst yesterday, you want to know now, not after you’ve signed your life away at the title office.
What Are You Looking For?
This isn't another showing where you're admiring the decor. This is a detective mission! Here's a checklist of things to keep your eyes peeled for:
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Agreed-Upon Repairs: Remember that leaky faucet or broken window you asked the seller to fix? Now's the time to confirm those repairs have been completed to your satisfaction.
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Missing Items: Did the contract specify that certain appliances, light fixtures, or window treatments were included? Make sure they're still there!
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New Damage: This is a big one. Has anything happened to the property since your last visit? Think things like new holes in walls, broken windows, or damaged flooring. Sometimes things happen during moving, so it's important to verify.
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Working Systems: Take a moment to test things like major appliances (if included), light switches, ceiling fans, and plumbing. Flush toilets, turn on showers, and check for running water.
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"Broom Swept" Condition: Ah, the classic real estate term! We'll get to that in a moment, but essentially, you're looking for the house to be free of debris and personal belongings. As a buyer, you are inheriting everything left behind. If you don't want to spend your first Saturday at the dump, make sure the walkthrough confirms the house is truly empty. On the flip side, sellers, if you want to leave that "extra" paint for the new owners, ask first! One person's "helpful touch" is another person's "trash to haul away."
Can This Halt the Sale?
The short answer? Yes, but we try not to let it.
If we find a major issue, say, the dishwasher is suddenly missing or there's a freshwater stain on the ceiling, we have a few "levers" to pull:
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The Credit: The seller can offer a financial credit at closing to cover the cost of the repair.
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The Escrow Holdback: A portion of the seller's proceeds is held in an account until the repair is finished post-closing.
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The Delay: We push closing back 24-48 hours to let the seller fix the issue.
Pro Tip: We aren't looking for perfection; we are looking for consistency with the contract. A tiny scratch on the floor isn't worth stopping a million-dollar deal, but a flooded basement certainly is.
The Takeaway
The final walkthrough is your peace-of-mind check. It's the moment to ensure that the home you fell in love with is the home you're actually getting. For both buyers and sellers, clear communication and attention to detail throughout the process, leading up to this final step, are crucial for a smooth and happy closing.
So, when that walkthrough comes, walk through with confidence, curiosity, and your trusty agent by your side!
What are your experiences with final walkthroughs? Share your stories or ask your questions in the comments below! I'd love to hear from you.
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