You, the buyer, have been through the due diligence process, the home inspection, the appraisal, received your closing documents, and now you are ready to close on your new home and bring the moving truck.
One more thing: The final walk-through.
Over the past 11 years 95% of our final walk-throughs go without a problem. The buyers take a quick look around the home and head to the closing attorney.
However after seeing the 5% that do not go that way, we felt it was time to add our opinion of the final walk-through and its importance.
In Georgia, unless stipulated in the contract, the buyers take possession of the home at closing. That means the sellers need to have their items packed up, moved out, and the home clean.
Unfortunately we have had problems with the sellers moving out in the morning for an afternoon closing or not having the home totally cleaned out prior to closing. As a result the final walk-through becomes a disaster.
Here are our ideas concerning the final walk-through and some strategies that need to be used:
- Have your buyers read Page 5, item 3 of the Purchase and Sale Agreement in detail! It says that "Seller warrants that at the time of closing the Property and all items remaining with the Property, if any, will be in substantially the same condition as on the Binding Agreement date". Make sure your buyers take the time to know the sellers disclosure, what items are staying with the home, and the condition of them when the contract is signed!
- Page 5, item 3 of the Purchase and Sale Agreement says "Seller shall deliver Property clean and free of trash and debris at time of possession". It does not say that the home has to be "hospital clean" or professionally cleaned. We would suggest that if there is any doubt put additional items in the purchase and sale agreement that states the home will be professionally cleaned and carpet to be professionally cleaned.
- The Purchase and Sale Agreement does not address holes in the walls from picture removals, or required touch up painting. Ask the sellers for the paint used throughout the home or the brand and colors.
- Call the sellers agent to schedule the final walk-through. Verify with the agent that their sellers are on schedule and that the home will be ready. We would recommend doing this instead of sending a text or an email setting up the appointment. You do not want surprises!
- Schedule the walk-through when the home is going to be empty. If the sellers are packed up the night before then do the final walk-through then. This gives the buyers time to discuss issues if they pop up. If you are doing the final walk-through the day of the closing, schedule ample time (not one hour before the closing which we have seen) to do a thorough check.
In the end, manage your clients expectations on the purpose of the final walk-through and what is required by the sellers in the contract. We have had buyers threaten not to close because of what they saw as issues in the home. Also tell them that this is not a home inspection. That has already been completed.
Good communication, and managing client expectations, are the key to a successful transaction. Use your experience to represent your clients to the level they deserve and they will thank you for your hard work.
If you find yourselves in the Atlanta area look us up! We are The Wells Team of Keller Williams Community Partners!
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