HOME BUYING: What is Final Walk-through?

Your dream to move is only days away, and you are very excited. Rightfully so as you searched for many homes, made an offer, went through the process of applying for the mortgage, etc., There is one crucial process right before closing called buyers’ final walkthrough.
What is buyers’ final walk-through? As the name states this is one last time as a buyer you are accessing the property that you are going to own to ensure two things
1) The condition of the property has not significantly changed since the execution of the contract
2) Check agreed-upon repairs were performed by the seller
For example: Say there was a hail just one week before closing and the roof is damaged. This is an obvious case. Consider another condition where during the final walkthrough you noticed damaged sheetrock (holes in the wall or holes in the door) that were not present when the contract was executed and not present even during the inspection. What do you do as a buyer? What are your remedies?
Buyers often ask me about “Is Final Walkthrough required for new homes?”. The answer is a firm yes. The intricacies of the final walkthrough with a builder are entirely different than the purchase of a pre-owned property.

Working with an experienced and knowledgeable real estate agent plays a critical role in the purchase of your dream home. Hire an agent that works for you. If you are already working with a real estate agent, ask them to schedule a final walkthrough, which is typically done 3 days prior to closing date!

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