Cincinnati Real Estate

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Kathy S. Koops GRI

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The Final Walk Through

filed under: For Buyers posted on August 19th, 2015

Buyers need to schedule time for the final walk through prior to closing in order Real Estate Buyersto make sure the property is in the same -or better- condition as it was the day you signed the purchase contract.  The final walk through doesn’t replace the home inspection, which should have happened within a couple weeks of buying the property.  By the time you are ready for the final walk through, repairs that were negotiated earlier should be completed (you should have receipts already) and you can use the time to verify repairs and also check to see no damage occured when sellers moved out.

Take a few minutes during the final walk through run water, flush toilets, check for electricty and, weather permitting, test the ac and/or furnace.  If appliances were part of the contract- make sure they are still inside the property and are in good working order.

It’s also a good time to inpsect flooring, walls for unusual wear and tear that might have happened during the move.  It’s not unusual to find a few scuff marks, holes in the walls from picture hooks and a few items left behind.  Buyers shouldn’t expect to see walls with giant holes, carpet removed or torn, new gouges in the hardwood and lots of personal items left behind.

Personally I’m not a fan of last minute negotiations but if the property is no longer in the same condition, the time to negotiate is just prior to closing.  The fix can witholding money at closing (escrow)to pay for repairs and cleanup or delay the closing until everything is resolved.  Lenders don’t like delays or escrows so buyers need talk their agent on the best ways to resolve the issues.

The bottom line for buyers is to make time for a final walk through right before closing -you need to know the condition of the property before you sign the closing documents.

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