What is a “final walk-through” in a MN real estate transaction?

A final walk-through is an inspection performed by the buyer anywhere from a few hours to five days before closing, and its primary purpose is to make certain that the property is in the condition buyers agreed to buy – that agreed-upon repairs, if any, were made and nothing has gone wrong with the home since the buyers last looked at it.

Who attends the final walk-through?

The buyer and their agent. Occasionally, it will be agreed for the seller and/or their agent to be present to explain home systems.

When is the final walk-through?

The final walk through usually happens in within 48 hours before closing. It is best for the walk through to occur after the seller has moved out.

How long does final walk-through take?

The final walk through can take as few as 15 minutes or as long as 90 minutes depending on the size of the house, if the seller will be there to give a tour, repairs that need to be checked, etc.

What happens at a Final walk-through?

Here is a list of items most buyers will check on a final walk-through to make sure the condition is still the same (or better) so here is your chance as the seller to check them first and prevent any problems or delays in closing…

• Turn on and off every light fixture
• Run water and flush toilets
• Test all appliances
• Check garage door openers
• Open and close all doors – room doors and cupboard doors
• Inspect ceilings, wall and floors
• Run garbage disposal and exhaust fans
• Test heating and air conditioning
• Open and close windows

Additionally,

• The sell should be moved out (unless otherwise agreed)
• All debris has been removed from the home/garage/yard and
• The home is cleaned up.

Here is what the final walk through IS NOT:

• It’s not a time to have the buyer’s parents, friends, etc. come look at the property or for contractors give them estimates, etc. All of that can wait until after the official sale of the property.
• It’s not a time for the buyer to begin moving boxes or other items in to the property. That has to wait until after closing unless otherwise agreed.
• It’s not when the buyer receives the keys. Instead, at the end of the walk through usually the buyer’s agent the takes keys and the lockbox and brings them to closing.

It’s always smart for buyers and sellers to respect each others expectations and stay on good terms. Accommodate each other’s reasonable requests and you are on your way to a happy closing!


READ:

Things home buyers and sellers discuss at closing.

Security Tips for Your New Home

Transferring Utilities

*A version of this information also posted here: http://www.callsarahfirst.com/2016/08/05/final-wal...