If you`re acquiring a home, you should not mix up a final walk-through with a home inspection. It`s not a time to restart negotiations with the vendor about extra repairs aside from the ones which have already been agreed upon. It`s meant to make sure that the house is in exactly the same state as when you reached an agreement with the seller to buy the property and that nothing has gone seriously wrong from the previous time that you checked it. It is also a chance to make sure that repairs agreed upon have been done to your satisfaction. It is normally performed just before the closing, where you will sign the contract. You will probably have a thousand things on your mind, but never be tempted to forego the final walk-through.
The house could be vacant because the vendor has moved out in anticipation of the sale. In such a case, the final walk-through will become much more necessary because things can go wrong even when the home is empty for a brief period of time. For instance, the termite company might have well covered the drain with paper while letting the shower run. If the inspector forgets to remove the paper when he departs, even a little drip from the shower can leave you with a flooded bathroom. You`ll obviously need this to be repaired before you finalize the transaction.
Take the example of a final walk-through just before closing for a house in which the home inspector had given the house a clean inspection since he had found nothing that needed maintenance. The new house owners arrived for the final inspection and to do the prudent precautions of switching the lights on and off, running water from all of the faucets and showers and confirming that the flushing system on the toilets were working. As they flushed the toilet in a specific bathroom, they found to their amazement that a bad smelling spray of water had erupted in the garden. The sewer pipes had been damaged and blocked by tree roots and the estimate for repairs was $7,000. The final walk-through allowed them to delay payment to the seller till the issue had been sorted out.
Occasionally, the seller is not going to transfer out of the house until the very last day. With this case, you must do the final walk-through in the presence of the vendor and make the most of the chance to get some more info. The vendor is going to be familiar with all the little issues in the house and will have the ability to reply to any questions that you have. You may as well use the final walk-through to ask the vendor what sort of house enhancements he had intended but did not carry out.
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