The final walk-through is an exciting and nerve-wracking moment on both sides of the transaction, but what does this mean if you are on the selling side of things? Here’s everything you need to be prepared for the final walk through on your home for sale.
Contents
- What is a Final Walk Through?
- Is a Final Walk Through Required by Law?
- What Does a Final Walk Through Look like When Sellers Have Not Moved Out?
- Should I Be at the Final Walk Through?
- Should the House Be Empty for a Final Walk Through?
- What Can Buyers Demand at Final Walk Through?
- Can a Buyer Back Out of a Final Walkthrough?
- Pre-Closing Walk-Through Checklist
What is a Final Walk Through?
The final walk through is a check for the buyers to make sure that the home is in the same condition as when they initially made the offer to purchase it. This also gives them a chance to verify that any repairs requested have been made prior to closing.
Is a Final Walk Through Required by Law?
A final walk-through is not required by law, but it is highly recommended.
If a seller declines a final walk-through, it gives the impression that they are hiding something that they do not want the buyers to know about.
What Does a Final Walk Through Look like When Sellers Have Not Moved Out?
This isn’t uncommon – but if you are not able to move out of the home before inspection, this is something that should be agreed upon by both parties prior to going under contract. There is a P&S agreement that usually covers that the buyer is able to access the property for the final walk-through, in addition to inspections, appraisals, etc.
Should I Be at the Final Walk Through?
It is not recommended for sellers to be at the final walk through.
This is intended for the buyer to be able to look at the property without any pressure. They will be accompanied by their real estate agent, but not the seller’s agent.
Should the House Be Empty for a Final Walk Through?
It is highly recommended to empty the home before final-walk through, unless another arrangement was agreed upon by both parties. This will give the buyer the ability to take a look at the entire property without anything in the way.
What Can Buyers Demand at Final Walk Through?
There are a few things that buyers may look for when doing a final walk-through, so here’s how you can get ahead of the game and make the process as seamless as possible:
- If there’s anything that came with the home (light fixtures, water heater, window treatments, appliances, etc.) that were not notated as leaving with the seller, they must remain with the home.
- If you plan to leave behind anything (furniture, personal items, decor, etc.), make sure that is was agreed upon by both parties. If a buyer finds something left behind that wasn’t agreed upon, it could cost you some money in the end.
- Clean up! Make sure you aren’t leaving behind a dirty house – and don’t try and “hide” any messes. This means the basement, closets, shelving, drawers, garage, etc.
- Make any necessary repairs. If the buyer mentioned wanting anything fixed prior to the final walk through, make sure that it gets done before that time. If they see that something agreed upon hasn’t been taken care of, and there was no communication in any potential delays in the repair, this could cause them to lose trust in you as a seller and show that you are not holding up your end of the deal.
- Leave utilities on. This is going to allow the buyer to test everything to make sure it’s in working condition (faucets, light fixtures, AC, stove, etc.). This is still technically your house until the keys are in the buyer’s hands.
- Test your appliances. Make sure everything is working before the final walk-through and fix anything that isn’t. This includes light witches, ceiling fans, faucets, oven, stovetop, refrigerator, garbage disposal, dish washer, wall outlets, AC & heat, fireplace, windows & doors, doorknobs, toilets, exhaust fans, cosmetic issues (inside & out), etc.
Can a Buyer Back Out of a Final Walkthrough?
Yes, your buyer could back out after the final walk-through.
There are only about 5% of transactions that are terminated due to issues at final-walk through. The rest are normally due to other reasons such as financing complications, appraisal values, or home inspection results.
If they are backing out just due to uncertainty of purchasing in general, they will lose their earnest money deposit.
Pre-Closing Walk-Through Checklist
Get the complete pre-closing walk through checklist instantly so that you can catch any potential issues and get them fixed. This can help result in a seamless final walk-through for you and the buyer.