Last Updated on 11/30/2022 by Mark Verhoeven
Final walk-through process
The final walkthrough is done to demonstrate purchasers what condition the property may be expected to be in when they take possession, according to most purchase agreement clauses. The property shall stay in the same or better condition than when the offer was accepted once the contract is signed. Because the phrases and phrasing used can vary depending on local regulations, it’s crucial to contact your real estate agent to understand the tiny print’s true meaning.
Final walk-throughs participants
In most circumstances, the final walkthrough is only attended by the buyer and their real estate agent. The real estate agent is there to assist them with the transaction. During the tour, an agent may have a better notion of what the buyers should look for. And, if something goes wrong with the house, the realtor can guide the buyer through the following stages.
The tour is normally done after the seller has left the property. If the seller hasn’t completely moved out yet, they may be there throughout the tour. In this situation, the seller’s real estate agent will almost certainly be there.
Benefits of a final walk-through
Those who intend to undertake a walkthrough should do so within 24 hours of the closing being completed. This will prevent you from walking through the house too soon and maybe missing damage that occurs after you’ve left. It will also guarantee that anything that was intended to be left behind (according to the contract) was indeed left behind. It’s critical that the seller has left the house and taken all of their belongings with them before you do this. It will be your obligation to deal with everything that has been left behind at that time. Remember, a final walk through before closing is not the same as a house inspection.
Location: Greenville, South Carolina
Education: MBA University of South Carolina
Expertise: Mortgage Financing
Work: CEO of Mortgage Rates Today and Author
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