A walkthrough is an opportunity for the buyer to inspect the property one final time before closing the sale. It is important because it allows the buyer to confirm that the condition of the property is as they expected and that any agreed-upon repairs or improvements have been completed.
There are several examples of buyers who have been saved by a walkthrough before closing. For example:
- The buyer discovers that the seller has not made the agreed-upon repairs or improvements.
- The buyer finds a new defect or problem with the property that was not disclosed by the seller.
- The buyer notices that the seller has removed fixtures or personal property from the property without their consent.
The best time to do a walkthrough is just before closing, when the property is supposed to be in the same condition as it was when the buyer made the purchase offer. This typically occurs a day or two before the closing date. It is important to do the walkthrough as close to the closing date as possible so that any issues can be addressed before the sale is finalized.