The idea of a “final walk-through” appears to confuse buyers and also sellers of homes. Here is a clarification of a walk-through.

Walk-Throughs

 Let’s Look at the below question.

What is a walk-through?  

What is its purpose?

Is it important or just a formality?

Can it be used to re-negotiate the terms of the contract at the last minute?

Normally the buyer prior to settlement carries out a final walk-through. The idea is to be sure the seller is delivering the home to the buyer in the condition they agreed to under the terms of their contract. Therefore it includes checking on anything the contract says about the condition of the property.

One requirement often seen in contracts about the condition of the home at the time of settlement and possession by the new owner is that it will be “in substantially the same condition” as on the date of the contract. Another frequent requirement is that it will be “broom clean.” Still, another is that all the working parts of the home (such as heating and cooling systems, plumbing, appliances that convey electrical systems, etc.) be “in normal working order.”

At times contracts and add-ons to them involve things like a new rug to be installed, gutters to be cleaned out, and HVAC systems to be “professionally serviced and changed the filters.”

Read Your Contract

It’s a good notion for both seller and buyer to review their contract giving attention to what is said concerning the condition in which the home will be conveyed. Those are the things that should get attention at the walk-through.

While walk-throughs are a formality of closing or settlement, they are not something you should take lightly. This is your chance to get any problems straightened out.