Closing Confidence: The Importance of a Final Walkthrough in Real Estate

October 5, 2023

The final walkthrough before closing is a critical step in the real estate transaction process. It provides buyers with the opportunity to verify that everything is in order and ensures a smooth transition to homeownership. Here's a comprehensive guide on the significance of a final walkthrough and the essential steps to undertake.

1. Understanding the Final Walkthrough:

Last-Minute Check: The final walkthrough is typically conducted a few days before the closing date. Its primary purpose is to confirm that the property's condition aligns with the terms outlined in the purchase agreement.

2. Coordinate with Your Realtor:

Guidance and Support: Work closely with your realtor to schedule and coordinate the final walkthrough. They will facilitate the process, ensuring all necessary parties are present, including the buyer, seller, and both real estate agents.

3. Review the Purchase Agreement:

Reference Document: Before the walkthrough, carefully review the purchase agreement. This document outlines the conditions and terms agreed upon by both parties, serving as a reference during the inspection.

4. Check for Repairs and Agreed-upon Changes:

Compliance Verification: Ensure that any repairs or changes agreed upon during earlier negotiations have been completed. This includes addressing issues identified in the home inspection report or items stipulated in the contract.

5. Verify Inclusions and Exclusions:

Appliances and Fixtures: Confirm that all appliances, fixtures, and other agreed-upon inclusions are present. Similarly, ensure that items designated as exclusions have been removed per the terms of the agreement.

6. Inspect Major Systems:

Mechanical Functionality: Test major systems such as heating, ventilation, and air conditioning (HVAC), plumbing, and electrical systems. Verify that they are in working order and meet the agreed-upon conditions.

7. Examine Windows, Doors, and Locks:

Security and Functionality: Inspect windows and doors to ensure they open, close, and lock properly. Confirm that all keys, access codes, and garage door openers are provided as agreed upon.

8. Check for Cleanliness:

Property Presentation: Assess the overall cleanliness of the property. The seller is generally expected to leave the home in a reasonably clean condition, ready for the buyer's occupancy.

9. Document any Issues:

Photographic Evidence: If you identify any issues during the walkthrough, document them with photographs. This documentation can serve as evidence and may be useful in addressing concerns with the seller.

10. Verify Seller's Disclosures:

Disclosure Compliance: Cross-reference the seller's disclosures with the current condition of the property. Ensure that any issues disclosed by the seller have been appropriately addressed or accounted for.

11. Confirm Utility Transfers:

Transfer Responsibility: Verify that the utilities are set up to be transferred into your name after closing. This ensures a seamless transition, and you won't experience interruptions in essential services.

12. Review Home Warranty Information:

Warranty Documentation: If a home warranty is included in the purchase, review the documentation and confirm the coverage details. Ensure you understand how to access warranty services if needed.

13. Schedule Adequate Time:

Thorough Examination: Allocate sufficient time for the walkthrough. Rushing through the process may lead to overlooking important details. A comprehensive inspection contributes to your confidence in the property's condition.

14. Communicate Findings:

Open Communication: If you identify any issues during the walkthrough, communicate them promptly with your realtor. They can liaise with the seller's agent to address concerns or negotiate potential solutions before closing.

15. Be Prepared for Resolutions:

Resolution Strategies: In the event that issues arise, discuss potential resolutions with your realtor. This may involve requesting repairs, negotiating credits, or adjusting the closing terms as needed.

16. Confirm Closing Details:

Closing Logistics: Use the final walkthrough as an opportunity to confirm details related to the closing process. Ensure that you have all necessary documents and information for a smooth and successful closing.

17. Enjoy Peace of Mind:

Closing Confidence: A thorough final walkthrough provides peace of mind for buyers. Knowing that the property meets your expectations and agreed-upon conditions sets the stage for a confident and successful closing.

18. Celebrate Your New Home:

Milestone Moment: Once the final walkthrough is complete and any outstanding issues are resolved, look forward to the joy of homeownership. Celebrate the culmination of your real estate journey and the exciting chapter ahead.

A well-executed final walkthrough is an essential component of the homebuying process. It not only ensures that the property meets your expectations but also allows for timely resolution of any issues, setting the stage for a seamless and successful closing.