If 
In the wild, wild world of real estate, home visits after an offer acceptance are a regular occurrence. Your final walkthrough? That’s a one-time thing – and it’s extremely important.
What is a Final Walkthrough?
A final walkthrough is an important step in the home buying process and it typically takes place a day or two before closing. It’s a Buyer’s last chance to ensure the home they’ve bought is in the condition they expected it to be.
If at all possible, Buyers should attend a final walkthrough along with their Realtor. Buyer agents typically bring a copy of the Agreement of Purchase and Sale, their own checklist of things to inspect, and of course a camera or Smartphone to take photos if required for documentation purposes.
It’s at the tail end of the home buying process, yes – but the final walkthrough is a critical step in that journey. Buyers want and deserve the home they paid for, and this is a final chance to ensure that happens.
Why is a Final Walkthrough So Important?
You see just about everything in the business of real estate sales. Final walkthroughs can go smoothly… and they can be an absolute gong show.
The first thing you and your Realtor will verify – as basic as it sounds – is that the Sellers (or tenants) are in the final stages of moving out. That may seem obvious, but if you’re in this business long enough, you’ll run into a scenario where – for one reason or another – people cannot or will not vacate a property in time for closing. Ideally, the home will be vacant for your final walkthrough. If not, you’ll want to see moving boxes and plenty of other indications that the moving process is well underway.
Next, confirm that the home is in the same condition (or better) as it was when you made your offer. There are very basic standard clauses used in Agreements of Purchase and Sale to protect Buyers from scenarios where the Seller has let the property deteriorate since the offer was accepted. Other clauses ensure the property will be cleared out, including (but not limited to) garbage or pet feces outdoors.
Once you’ve established that the general condition of the property is as you expected, it’s time to verify that any agreed-upon repairs have been made and to review what’s remaining.
A Buyer’s agent should go through the home and ensure that all chattels that were part of the Buying negotiations are on site. This typically means things like appliances and fixtures, but could be many other things. Sometimes Buyers negotiate to keep furniture or electronics. Whatever as a Buyer you were expecting to be there should be there. A common “blip” during final walkthroughs occurs when a Seller has removed something that they’d agreed the Buyer could have.
Every Realtor handles final walkthroughs differently. I typically go through the home and test all of the appliances to ensure they’re in good working order. Next,I run all of the taps and flush toilets and look for signs of plumbing leaks. Of course, I also open closets and check every room for items left behind. Outside, I try to walk the perimeter and here again just look for anything that seems out of order.
What if Issues Arise During a Final Walkthrough?
It’s not uncommon for issues to pop up during a final walkthrough. Most are minor; some are not.
First things first, it’s wise to see if – in the case of minor issues – the Realtors representing the Buyer and Seller can sort things out. If a Seller took the countertop microwave with them, but it was supposed to remain, that’s pretty easy to resolve. Other issues are more serious – more costly or more complicated to resolve. In those cases, each party’s lawyer will have to get involved.
There’s a fine line here and a good Buyer’s agent will know how to find it. There’s just a point at which an issue is no longer a hiccup, but rather a serious and possibly contentious issue. When this happens, it’s over to the lawyers to come up with a solution that will satisfy everyone.
Worst Case Scenarios
Can a final walkthrough go so badly that a Buyer just wants to walk away from the purchase? Yep. But that is not a decision to take lightly and it’s a decision that can have very significant legal impacts. When problems arise, it’s typically in everyone’s best interests to work out a solution.
It’s a good practice to have a few walkthroughs between the time of an offer acceptance and the final walkthrough. As a Buyer, you’ll want to keep tabs on the property you’ve purchased. It’s best to identify potential issues well in advance of closing, so there’s adequate time to work through a resolution.
Resolving concerns prior to closing is critical. Can they be resolved afterward? In some cases, yes. But in the most broadest sense, once funds have transferred and keys have exchanged hands, it’s hard for a Buyer to get resolutions. Often, the only recourse is to launch a legal battle, but that comes at a cost and can drag out for a long time. Heading to court should always been a last resort when all other avenues have failed.
Buying a home is a significant investment and a major life milestone. It’s important to book and attend a final walkthrough. Consider it yet another way to ensure that you’re making a wise investment. The home buying process is stressful, but by the time that final walkthrough arrives, hopefully you’ll be very close to feeling like the process was worth it.
