The purpose of the final walk-through is so the buyer can confirm the property is in the same condition (ordinary wear and tear excepted) as is was on the date of the sales contract and that any repairs to the property were completed in a workmanlike manner. As a leader among title companies in St. Louis, Investors Title Company can provide you with the expertise and services you need to ensure a hassle-free closing experience. For the purpose of a smooth closing, we suggest that the buyer perform their final walk-through prior to the day of closing. Why?
Issues can arise during the final walk-through that often take time to resolve, which can create a chaotic closing experience for your client. A final walk-through is not a home inspection. A home inspection should have been completed prior to this stage. Its purpose is so that the buyer can ensure that the property is in the condition they agreed to buy it in. Buyers will want to check that any agreed-upon repairs have been made and that nothing has gone wrong with the home since they last saw it.
Moving is a hectic process, which means buyers may be pressed for time and tempted to forgo the final walk-through. Investors Title Company strongly recommends that buyers do not pass up the final walk-through, particularly if the home has been sitting vacant. Problems are more likely to arise in vacant homes, as no one is there to catch and correct them. There are several key tests buyers should take the opportunity to run during their walk-through:
- Turn light fixtures on and off and check the circuit breaker
- Run water and check for leaks beneath sinks
- Open and close windows and doors
- Turn on garbage disposal and exhaust fans
- Flush toilets
- Test heating and A/C
- Examine exterior of home for any signs of recent damage
- Check major appliances
- Check screens and storm windows
- Check status of agreed-upon repairs
A final walk-through will rarely take more than an hour or so to complete. The sales contract provides the buyer with a 4-day window prior to closing to complete their final walk-through (line 341 of the Sales Contract). By using this provision in the Sales Contract you can aid in a smooth closing experience for your Buyer or Seller. With our superior knowledge of investment title and closing services, Investors Title Company is here to help you achieve a successful and stress-free sale from start to finish.