carmen's Take on:

THE FINAL WALK THRU

WHAT IS IT & WHY IT'S IMPORTANT

It's more than just about where your couch will fit.

Just before funds are exchanged in real estate sales, buyers will typically chose to book a "final walk-thru" to tour the property one last time before they officially become the new owners.

This final viewing has more purpose than only measuring furniture spots or picking new paint colours.

The final walk-thru is a critical time of due diligence for the buyer, one that any prudent shopper should be well prepared for.

Purpose of Final Walk-Thru: to confirm the property is in the same condition as it was when you agreed to purchase it.

You'll want to walk through personally to ensure there are no issues that should be resolved before you close on the deal. The purpose of the final walk-thru is to confirm the home is being rendered to you in the condition all parties accepted and agreed to in the Agreement of Purchase and Sale.

Occassionally, a buyer and seller may agree to modify the property before closing. If any issues come up during a home inspection, the buyer and seller may contractually agree to have the work done on the property before closing. For example, mold may be discovered in the attic, and the buyer and seller may agree to have the mold remidiated prior to closing. During the final walk-thru, a buyer should confirm that any work or items contractually agreed to are present or completed.

Additionally, a buyer will want to make sure no damage has occured to the home that the sellers are responsible for repairing. Sometimes old and forgotten damage may be uncovered when the seller's belongings are removed. Weather conditions, accidents, appliance issues, or careless movers could all be considered 'damage'.

Speaking of appliances, you'll want to check that all are in good working order and no new electrical or plumbing issues have popped up. You'll want to keep an eye out for obvious problems that should be repaired before you move in.

Finally, you'll want to make sure anything that is supposed to be there is still there, and anything that the sellers are supposed to remove is gone. You don't want to arrive with your moving truck to discover the sellers have left behind an assortment of unwated furniture or garbage. The sellers should be held responsible for removing everything that doesn't come with the sale, and leave the property in a 'broom swept' condition.

Got an upcoming walk-thru? Make sure you protect yourself & cover your bases to avoid any potential risks.

Download my FREE

"Final Walk-Thru Checklist"

to take with you!

416-906-3106

carmen@lombardihomes.com

Carmen Lombardi has been a real estate agent serving the Greater Toronto Area since 2014.

Her areas of expertise are Mississauga, Brampton, Milton, Georgetown, Halton Region, Guelph, Cambridge, and Vaughan.

She specializes in working with Millennial and Senior clients, from first homes to investment properties.

Also a single parent, Carmen is passionate about personal development and financial education, and enjoys teaching her clients about all things real estate!