What Is A Final Walk-Through In The Real Estate Transaction?

18-09-2021

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The final walkthrough is the final inspection of the property you purchase and is the second-last step in the property buying process. It is the last opportunity for the buyer to check if all the negotiated repairs are made at the destination and the property is in the desired and negotiated condition. It is crucial to tick off this step in your property buying journey to avoid missing out on faults in the property. Here is a quick overview of the final walkthrough in the real estate transaction.

What Is The Final Walkthrough?

The buyer and real estate consultant visit the property before the closing day to ensure all the necessary repairs are made, and the property is in the same state as assured by the seller during the deal. The final walkthrough is usually done the day right before the settlement so that any unanticipated damage to the property gets avoided. For instance, if you do a final inspection a week before the closing day and heavy rains cause water damage in the property later, you cannot claim the seller to repair it. Hence most of the buyers have a final inspection as close to the property settlement day as possible.

What To Look for During The Final Walkthrough?

Here are a few areas you must look for during the final walkthrough and get them sorted by the seller.

  • Inspection Of the Repairs

    When the seller and buyer sign the purchase agreement, the buyer asks to make a few repairs and mentioned them in the agreement. The seller would have promised to make the repairs before the settlement day, and a walkthrough is a time when you, as a buyer, inspect whether the said repairs get done or not.

    Carry all the necessary paperwork, the inspection documents, purchase agreement and contracts with you while visiting the property for a final inspection. When you have a handy agreement or contract, you can conveniently check whether all the stated and negotiated repairs are done without forgetting anything.

    Assume you informed the seller to repair or replace a faulty switch in the living room, and during the inspection, they tell you that the switch is repaired. Do not blindly trust everything they inform unless you inspect everything, hence flip the repaired switch twice or thrice to re-confirm that the repair has been done. Similarly, inspect every repair to avoid being in trouble later.

    Also, get the contact details of the engineers who repaired the services so that if a problem occurs in future, you can contact them and get the repair done conveniently.

  • Check The Belongings

    Schedule your walkthrough such that the seller or the people staying at the property vacate it completely before the walkthrough. This makes it easy to spot the defects and check whether all the necessary repairs have been done. Also, it saves you from the trouble of getting the place cleared of other’s stuff. Check the house and look if there are any left-over belongings off the seller that were not removed.

    Alternatively, check whether the belongings or the appliances seller had promised to leave back in the acceptance letter are in place and not vacated by the seller. Be quick to contact the selling party and inform them if any of their belongings are left behind or if any promised belongings are carried away by them.

  • Assess The Condition of The Appliances

    If the seller had promised to leave few appliances for your use, check whether those appliances are left-back and also assess their working conditions. Switch on and off every appliance and if there is any issue, ask the seller to get it repaired. Check whether the drains do not clog, the garbage disposal is proper, home ventilation is good, and there is enough water supply in every area of the house, and the water pressure is ideal in every shower and pipe. Run all the faucets and flush the toilets to ensure there is no leakage. Open and close all the doors and windows to check if they smoothly slide.

  • Check The Electricity Outlets

    Check the electrical wiring of the house and ensure all the sockets work well without any power leakage. Try to plug your mobile phone charger into every socket in the home to check whether the switches work well, and there is a regulated power supply in all the sockets. Check the doorbell and light fixtures as well.

  • Pest Control

    When a home is vacated, there are higher chances of a pest attack. Before you settle the deal, check if there are any termites, rodents or ants. Sometimes the termite attack is in the interior that is not visible to the naked eye, hence hire professionals to do the pest inspection and check if there is a termite attack. It is better to get the house pest-proof to avoid further damages in future.

    After performing a thorough inspection of the house, discuss with the seller to get the pending repairs done. Your closing day might get delayed as the seller takes time to perform the remedies, or sometimes, the seller pays the buyer to get the remedies done and accordingly changes in the agreement would be made.

    The buyer also has the right to back out if the seller does not agree to perform the repairs mentioned in the contract or withhold the seller’s money in an escrow account until the informed changes have been made. Hence, to get the deal settled at the earliest, a seller must make the necessary repairs before the walkthrough.

If you are looking to make an investment in real estate or sell out your property, connect with GAE Co., and we will get you the best real estate deals in and around the Emirate of Dubai.

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