So, what exactly is a final walk-thru for?
- to verify that all agreed upon repairs have been completed
- to make sure that the condition of the home has not changed since contract signing – for example: there are no leaks, broken windows or holes in the wall that happened when your buddy came to lend a hand fitting the sofa out the front door!
- to allow the buyers a chance to measure for new furniture – like refrigerator spaces in the kitchen, or curtains for the windows.
The best time to do a final walk-thru is as close to closing as possible – but not last minute. I usually recommend that the listing agent to have all final repairs completed (with receipts sent to me) at least two days prior to our agreed upon closing date.
If you wait too close to closing – like the morning OF closing – then there may not be enough time to address repairs that were not done correctly or any new developments that need repair.
Case in point, as we move into Summer here in Southwest Louisiana air conditioning problems do occur. I just had a Buyer do a walk through of a vacant property only to discover the unit was frozen and not cooling! We needed time to notify the listing agent and get an HVAC evaluation not to mention let the unit thaw out! This is when it is beneficial to have a Home Warranty in place because the Seller can still make a service call right up until ownership transfers!
If the final walk through is done too close to closing and repairs are needed, this could lead to a delay in closing and unhappy clients. Remember bank documents have already been dispatched and a delay could be costly for a Buyer. NOT the way you want to end an otherwise smooth transaction!