A walk-through is the final inspection done by a buyer, usually just before closing, to ensure that the property is as expected and any agreed-upon repairs have been made.
A walk-through is the final inspection done by a buyer, usually just before closing, to ensure that the property is as expected and any agreed-upon repairs have been made.
The walk-through is a vital part of buying a home. It is the last opportunity for the buyer to make sure that the seller has prepared the home for the new occupant and that all conditions from the inspection have been met.
Once the buyer and seller have reached an agreement for the sale of the home, the buyer has an inspector look at the home for potential problems. After inspections, the buyer presents a list of repairs that the seller must fix in order for the sale to precede. The buyer and seller negotiate until they reach an agreement. A walk-through is necessary to make sure that all of the agreed-upon repairs have been completed.
On the day of closing, there is often a final walk-through. This ensures that any repair from inspections that was not quite acceptable at the previous walk-through is now corrected. Also, the final walk-through is a chance to make sure that the home is in move-in condition.
Both the buyer and seller need to take the walk-through very seriously. A deal can fall apart or be delayed because the house is not ready for the walk-through. Therefore, the seller must stick to deadlines for making home repairs and preparing the house to be in move-in condition. Also, the buyer needs to be meticulous in making sure that everything is completed to specifications. Once closing takes place, it is very difficult for the buyer to make the seller complete any repairs.
A buyer needs to go to every walk-through (usually one after the repairs from the inspection have been made and another one prior to closing). Also, the buyer should schedule plenty of time so that there is no rush to complete the walk-through. It is important to take your time for such important matters.