What Sellers Should Know about the Final Walk-Through
The main purpose of the final walk-through is for the buyers to verify the condition of the property and ensure that any agreed-upon repairs or changes have been completed satisfactorily.
The final walk-through typically takes place shortly before the closing, often on the day of or the day before. It allows buyers to assess the property's condition just before taking possession.
Buyers will expect the property to be in the same condition as when the sales contract was signed. They will be looking for any changes, damages, or new issues that may have arisen since their last visit.
If there were any repairs or maintenance agreed upon during the negotiation process, it is crucial for the seller to ensure they have been completed before the final walk-through.
Sellers should ensure that all utilities are turned on and functioning correctly during the final walk-through. This includes heating, cooling, electricity, and water. Additionally, appliances should be in working order, as buyers may want to test them.
The property should be clean and presentable during the final walk-through. Sellers should make sure that the home is tidy and free from any personal belongings.
Buyers may have questions during the walk-through regarding the property or its systems. Sellers should be prepared to answer (via - thru our team) these inquiries honestly.
Potential Issues That Might Arise:
Unfinished Repairs: If agreed-upon repairs have not been completed or were not done to the buyer's satisfaction, it may delay the closing or even jeopardize the sale.
Damage to Property: If the property has suffered damage since the initial agreement, buyers may raise concerns about the cause and who is responsible for rectifying it.
Missing Fixtures or Items: Buyers may notice missing fixtures or items that were initially included in the agreement, leading to potential negotiations for compensation or replacement.
Environmental or Safety Concerns: Issues such as water leaks, mold, or safety hazards found during the walk-through may require immediate attention and resolution.
Contractual Discrepancies: If there are discrepancies between the agreed-upon terms in the contract and the property's current state, it could lead to disputes and delays.
Emotional Attachment: Buyers might become emotionally attached to the property during the walk-through, making them more sensitive to any shortcomings or perceived defects.
Unexpected Changes: Changes in the property's condition due to natural disasters, weather events, or accidents might be discovered during the walk-through.
Sellers should recognize the importance of the final walk-through in the home-selling process. By understanding the buyer's perspective and addressing potential issues proactively, sellers can ensure a smoother and more successful real estate transaction. Being transparent, cooperative, and well-prepared for the final walk-through can leave a positive impression on the buyers and contribute to a successful closing.