A final walkthrough in real estate is a walk through of the property you have agreed to purchase prior to you getting the keys and taking possession.
The primary purpose of this walk through is to inspect the home to ensure the condition of the property hasn’t changed since the last visit.
When does this inspection happen? Typically the final walkthrough is done within 24 hours of closing so you can assess it as late as possible thus minimizing the time that anything could potentially happen. If you do the walk through too soon it leaves a large gap where unexpected could arise. Another reason you don’t want to go too soon is because the home owners will likely still be living in the home so having a good look won’t be as easy as when the home is vacant.
It’s a good idea to bring along a copy of your agreement of purchase and sale to refer to. The first thing we always check is if the items that were included in the agreement are still there.
The second thing to check is if there are items left behind that shouldn’t be? Just because the seller decided they didn’t want to lug out the old heavy freezer that was in the basement doesn’t mean they can just leave it and make it your problem. Next we move on to check if there was any damage made to the property since we saw it last? If there was any agreements between you and the seller to have repairs done to the property before closing you will need to check and make sure they were carried out. Run all taps and check all drains are draining. Turn on all the lights to make sure they’re functioning. Lastly you want to make sure that the items that were included are working properly, check the stove, refrigerator, microwave, dishwasher, washer, dryer, water softener, etc…
Doing a final walkthrough isn’t mandatory but highly recommended, skipping it could cause you major issues and stress that can easily be avoided.