It’s finally time to close on your property, and you are ready to move on, the next step is the walk through and then the closing table! But wait, the walk through? What exactly does that mean, can it hold up closing, can it create last minute delays? Yes, yes and yes!
It’s imperative to read over your sales contract and talk to your agent about buyer expectations for the final walk through. Every contract is different, so you need to understand how you are obligated to turn over the property. This way, there won’t be issues left behind that can create closing delays or reasons for the buyer to hold back monies at closing.
The walk through’s expectations will be set by the buyer and their agent. But ultimately the sales contract dictates what’s what. The buyer if they have never attended a walk through before or if they have never closed on a property in Florida may have some preconceived expectations. So I always like to have a conversation with the buyer’s agent before the walk though to make sure we are all on the same page before the walk through date. For instance, if we are attending a walk through at a home where the seller had lived for many years, if the buyer visits that walk through for that home and has never seen the property bare, it’s going to look like an entirely different property. So it’s important to encourage the buyer’s agent to talk to the buyer about this and let them know what to expect.
It’s all about communication and setting the right expectations.
What Do Buyers Look For At The Final Walk Through?
Here are a few tips to keep in mind about the final walk through.
1. The “walkthrough” is not a home inspection. Up to this point, it should have been completed already and any issues remedied. If you are the seller and were suppose to rectify any problems, make sure they are completed before the walk through. In fact, I would make sure any inspections items that needed to be reinspected are done so before the walk through, approved by the buyer in writing and keep the walk through an entirely separate affair.
2. Don’t just throw all of your junk on the curb. If you have a lot of garbage or things to remove be sure to call a trash removal company and have that completed before the walkthrough.
3. Buyers often make checklists mental or pen to paper of what’s on the property. Don’t remove items that you aren’t supposed to remove (unless your contract tells you to):
For instance, check your contract before removing items like:
- Light Fixtures
- Appliances
- Blinds
- Attached items like banquets, closet shelving, etc.
4. The property is going to look completely different with all of your items removed, do a visual check of walls, floors, and ceilings. Does everything look nice and in order?
5. Check all of the kitchen cabinets, clear them out. Don’t leave cleaning items, boxes and old stuff behind in the kitchen and certainly not the refrigerator.
6. To paint and patch or not? Often you are not required to paint and patch up walls, but you should always read over your contract and find out for certain.
What To Do If The Buyer Finds a Problem?
First, don’t panic. There is usually a solution to every problem. We have to figure out if it’s a problem or not and then assess the best way to handle it. Sometimes if something is missing and it’s a valuable item, the seller can credit the buyer. Money can also be held back at escrow until the issue is resolved and remedied.
Next, it’s all about relationships and healthy communication. This is why it’s good during the transaction to keep things on a positive note. Good relationships and open communication can solve almost every issue.
It’s also important to speak to your closing agent and attorney and let them advise how to rectify best the situation.
Most likely, you will be able to negotiate a credit or solution. Most of the times the buyers are ready to move on with their lives and start the new chapter.
