After going through the extensive, sometimes stressful and emotional, process of escrow, you will reach the final walkthrough. This is your final opportunity to look at the home you are about to buy and make sure it is in the condition you expect.
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To learn more about what to expect, and what to look for, during your final walkthrough, keep reading.
What is a final walkthrough?
A final walkthrough is scheduled at the end of the escrow process, right before closing. You and your agent will be allowed to walk through the property and check to see that:
- All requested repairs have been completed
- There are no new problems with the property that need to be addressed, like newly broken or damaged parts of the home
- Everything that was agreed upon in the contract is in the home. Any light fixtures, furniture, or other details that were designated to be left in the home at closing should be present.
- Every appliance and system that was indicated to be in working condition is working properly
For the most peace of mind and to avoid future headaches, take your time during your walkthrough to make sure everything is as it should be.
When is the final walkthrough?
In most cases, a final walkthrough will take place two to three days before closing. At this point in the escrow process, financing should be totally cleared, and any repairs that were requested after the inspection report was reviewed should have been completed. Immediately after the final walkthrough, you can notify the sellers of any issues that arose so that they can, hopefully, be handled without delaying the closing date.
Who can I bring to a final walkthrough?
The only people required to be at a final walkthrough are the buyer and the buyer’s agent. However, you may decide to bring an additional person or two with you to help make sure you don’t miss anything. The seller is generally not present at a final walkthrough but is allowed to request being there. If the seller does attend, their agent will join them.
You may decide to bring a home inspector with you to the final walkthrough. Depending on the initial home inspection report and the repairs that were done as a result, this may or may not be advised. Even if it results in an extra charge from the inspector, you may find that the peace of mind is worth every penny.
What do I need to bring with me?
There are a few things you should make sure to bring to your final walkthrough, including:
- A checklist of everything you want to review. It is easy to forget something once you arrive, and this is your last chance to review the property before closing on it.
- Your original final offer, stating the agreed-upon terms of the sale.
- All written agreements between the buyer and the seller
- The inspection report
- A small item you can plug in to check that all outlets are working
To learn more about a successful real estate deal in Panama City Beach, contact us any time.
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