What is Final Walk Through?
Buyer’s and their agent will probably take one final tour of your property before closing. This final walk through will take place, ideally, within 24 hours of closing. During this visit they will visually inspect the items that you agreed to fix, they will look through the home to be sure everything is still there that should be (for example, the kitchen appliances are there and are the same ones they saw before) and that nothing is there that should not be (that the home has been emptied of debris and of the Seller’s possessions).
This is a cursory trip and should not be long, but it is important because after closing, the Buyer owns the house and if at that point something is wrong, it is no longer the Seller’s responsibility. Some agents do not emphasize the final walk through, but we believe it is very important and you, as the Seller, should count on it.
What if the Buyer Finds a Problem?
Final walk through is a formality, but it is still important. If there HAS been damage to the property, the Buyer can refuse to close until the damage is corrected. This is more likely to happen if the property has been unoccupied for some time before closing. If we are made aware by the Buyers that there is a problem w will immediately seek to find a remedy that still allows us to close. This might mean that a sum of money is put in escrow to fix the issue identified. However if the problem is severe, closing may yet be postponed or even cancelled if no resolution can be agreed upon. This is unlikely, but we can prepare for final walk through too by being sure we have checked the home ourselves before the Buyers go through it.
Additional questions? Feel free to get in touch: