Do I Need a Final Walk-Through When Buying Real Estate?
Do you need a final walkthrough? What is a final walkthrough?
A final walkthrough in a real estate transaction is the last time that as a buyer, you will be able to walk through the home you are purchasing just prior to settlement.
Here at the beach, it's very common for us to have a final walk-through that is anywhere from an hour to two hours prior to the final settlement. The final settlement is typically scheduled here in our office or in a location close to the property.
That final walkthrough gives you the ability to go through everything—make sure the water's running, you have hot water, the air conditioning or heating is working properly, and all the doors and windows are latched and secure.
It could be your opportunity to run the dishwasher and the washing machine. Also, in a resort environment, a lot of the properties are sold fully furnished, so this is your opportunity to make sure that all of the items that were agreed upon to be left in the home are still there.
So, do you need a final walk-through?
Yes, you do! It's a great idea to have that final walk-through just to give it one more look before signing on the dotted line and purchasing the property.