Wholesale Real Estate Coaching: When you buy property you will do what is called a final walk through just before the closing. It is not an inspection or a time to discuss repairs and conditions with the seller. It is simply a way to be sure that the property is as described in your sales contract and that nothing has been removed, added, or changed that you did not authorize. It just gives you one last look before you go through the final signing. If you had previously negotiated repairs or replacements with the seller this is the time when you can take a look to see if those conditions have been met.
You may be feeling comfortable with the whole sales process and wouldn’t mind skipping the final walk-through. Don’t do it as you could be getting into something that you didn’t expect and it will be too late once closing has taken place. Vacant homes are important to inspect because there are all sorts of things that can happen when no one is around to report it or do something about it. Occupied homes are important to inspect before closing because the seller can often tell you about something you might want to change to improve.
Talking to the owner often gets you good information because they know you will be buying the house, so they are willing to tell you about features that were inconvenient or difficult and that you might want to change.You can also ask the seller to share contact information with you so you can send them any mail or other items they may leave behind. This kind of meeting is not always possible as the seller is usually gone by this time or perhaps not interested in meeting the buyer, but if it happens, it should be a good meeting. Recognize the rare opportunity and take advantage of it. You might ask what the seller would have liked to change about the house if he had stayed.
When you do the walk through turn on all of the lights. Switch on every light switch. Test every appliance to see that it works. Turn on water from every faucet. Check the sinks for any leaks underneath. Open and close the garage door. Flush the toilets. Open doors. Close doors. Check out the ceiling and walls. Turn on the air conditioner. Turn on the heater. Basically, you’ll be checking to see that everything is ready to go for you to move in or rent it out.
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