Buying a home involves a lot of moving parts, and by the time closing day arrives, most buyers are ready to get the keys and start moving in. But there is still one important step before signing the final paperwork: the final walk-through.
A final walk-through is not another home inspection. Instead, it gives the buyer an opportunity shortly before closing to confirm that the property is in the condition expected under the contract and that any agreed-upon repairs have been completed.
What Should Buyers Look For?
Every property and transaction is different, but I generally encourage buyers to focus on three big questions:
1. Were the agreed-upon repairs completed?
If the seller agreed to make repairs during the transaction, the final walk-through is an opportunity to confirm that the work has been completed. Depending on the repair, buyers may also want applicable receipts, invoices, warranties or other documentation.
2. Is the home in the expected condition?
The property should generally look the way you reasonably expect based on the contract. Items that were supposed to remain with the home should still be there, and the seller’s move should not have resulted in unexpected changes to the property.
3. Has anything happened since the inspection or last visit?
Moving furniture and belongings out of a house can occasionally reveal—or even create—new issues. Buyers should be alert for things such as new wall or floor damage, plumbing leaks, missing fixtures or appliances, storm-related damage, or other significant changes.
Take Your Time
The final walk-through may only take a short time, but it shouldn’t be treated as a formality.
Depending on the home, buyers may want to look through each room, check areas that were previously occupied by furniture, confirm included appliances and fixtures remain, and take another look at garages, pools, storage areas or detached structures.
The goal isn’t to search for new inspection items. It’s to make sure the home you are about to purchase is substantially the home you agreed to purchase.
What If You Find a Problem?
Finding an issue during the final walk-through does not automatically mean the closing has to fall apart.
The appropriate response depends on the property, the contract and the seriousness of the issue. In many situations, the agents, attorneys and parties can work together to determine an appropriate solution before closing.
The important thing is to identify the issue before ownership changes hands, rather than discovering it after the closing is complete.
One Last Look Before the Keys Are Yours
After weeks of negotiations, inspections, financing, paperwork and planning, it can be tempting to rush through the final walk-through. I encourage my buyers not to.
It is one last opportunity to make sure the property is ready before you sign the closing documents and make it yours.
For another helpful overview of the process, read “What Happens During the Final Walk-Through?” from Realty Times:
https://realtytimes.com/consumeradvice/buyersadvice/what-happens-during-the-final-walk-through
If you're buying a home in Myrtle Beach, Surfside Beach, Garden City Beach, Murrells Inlet or elsewhere along the Grand Strand, having an experienced Realtor guide you from the initial search through the final walk-through can make a complicated process much easier to navigate.
Dan Sine, REALTOR®
Dunes Realty Sales
843-455-6319
DanSineRealtor.com
Real Estate Done Right.