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It’s already common knowledge that buying a home is an incredibly stressful and daunting process whether it’s your first time or not. But how is the experience for sellers? With how competitive the market has been these last few years, it hasn’t been much better on the other side. Your realtor might (and should!) help you with the bidding wars, contracts and everything in between, but you have plenty on your plate to be responsible for as well. We at DMR wanted to provide some tips to help manage your problems, with this blog focused on the final walkthrough process.
What Exactly is a Final Walkthrough?
A final walkthrough is a very important step of the process for both the buyer and seller. This takes place long after the first time the hopeful buyer and their agent has seen the property. It should not be mistaken for a professional inspection, either; these tend to take place just prior to the official closing. It gives the buyer a final chance to thoroughly inspect the home themselves, typically after renovations/changes have been made during negotiations or due to an inspector’s findings.
Typically, only the buyer and their agent will review the home in its final condition before the sale is complete. Their responsibility is to do things like check for repairs that should have been done, confirm all locks are functional, verify there are no belongings they would become responsible for, etc. Since the seller’s home will be thoroughly scrutinized, it is obvious why this step is so vital for both parties.
Know What Buyers Will Be Looking For
As a seller, you should have your own checklist of things to keep in mind as the final walkthrough is scheduled and things are approaching the finish line. Before we get to that point, let’s talk about what buyers will be doing in preparation. Maybe you have bought a house in the past and have an idea on what to expect, but a refresher never hurts:
Inspection repairs. The most important and obvious part is something that has already been completed and made aware to both sides. If you (the seller) has agreed to any repairs that have been identified as needed by an inspector, the biggest priority is ensuring these repairs have been completed. Not only will you want them finished, you will want said repairs to be quality.
You can trust that a responsible buyer will be bringing their inspection report to the final walkthrough to check each repair with their own eyes. Be prepared for them to potentially ask for receipts or paperwork regarding any warranties your repair company of choice may have given. This will allow the future homeowners to resolve potential issues involving the repairs long after the transaction is complete, and the buyers will have less cause for concern if you have everything ready quickly.
Locks, windows & doors. Buyers will have plenty of time to walk through the property to check every nook and cranny as they see fit. The bigger your property, the more you should be prepared to check each one of them yourself. Open every window individually to ensure they slide open and close easily, and verify if each has a screen and/or lock if applicable.
If there are any tears, defects or missing items, be prepared to alert the buyer of it ahead of their walkthrough to ensure they aren’t surprised. Most of the time, small things like this won’t cause a hiccup in closing, but honesty is underestimated during the ups and downs of buying and selling a home.
Appliances, electricity & outlets. There is a high likelihood that these will have been addressed in the inspection report and its corresponding repairs, but a careful buyer will still be making the effort to check all of the above. They will be checking outlets one-by-one to verify electricity is running through them, and each appliance remaining in the home after the sale will be tested for quality control.
The biggest things to verify are running smoothly would be your stove (especially if gas-operated), dishwasher, garbage disposal, security system and — perhaps most importantly for our Florida residents — the HVAC system. It is important to prepare for conversations with the buyer if any issues arise, especially if they are buying the home “as-is”.
Landscaping/outdoors. The outside of the property is just as important as the inside. Buyers will be sure to do a walk-around of the home from front to back, ensuring that things like fencing and gates are working as intended. If your home owns a swimming pool, you should be ready for the buyer to check and ensure there is no mildew, mold or issues with the lining. Be sure to notify the buyer ahead of time if you are planning on removing anything from the landscaping to move to your new home, such as any installed irrigation systems they are aware of or bushes and plants.
It should go without saying that this is not a comprehensive list of what to prepare for. Every home is different, and depending on the prior inspection or layout of your property, there may be an emphasis on one thing over the other. Some matters may be out of your control as the seller as well. Just knowing what to be mindful of leading up to the final walkthrough can help mitigate last minute issues neither side will want.
Things Sellers Should Do Right Before the Final Walkthrough
Aside from keeping the buyer’s considerations in mind, there are several things you will want to take care of personally as well. Most are obvious, albeit easy to forget as you may grow overwhelmed with the final steps of the process. Here is a list of objectives to check off as you prepare to lock your property’s door for the last time:
- Remove ALL belongings aside from anything the buyer would like to keep that you are wanting to part ways with, i.e. paint supplies, tools or furniture. We believe in real estate being a joint effort to start a new chapter and hope sellers respect their buyer’s time and energy during this hectic move phase!
- Take time to set out bags of trash prior to the buyers moving in so that it can be picked up before they will need to park moving trucks or several vehicles at the property.
- We recommend having the home professionally cleaned. It is optional, but it is especially helpful to have this done prior to the final walkthrough to double down on a positive final impression.
- Leave all keys belonging to the property, i.e. mailbox, garage, front/back doors etc. It is a good idea to retrieve any keys from family or friends to provide to the new owners, especially if they decide not to have new keys remade. Realtors often bring entry keys to closing, but keys beyond entries should be set aside at a visible location for new owners.
Once that is done, take a deep breath! You and the buyers are almost done with the process, and a heavy weight will be removed off your shoulders. Don’t feel like you have to carry that by yourself, though. The team here at DMR specializes in helping sellers prepare for everything from the inspection to the final walkthrough.
We’ve helped countless Miromar Lakes buyers, sellers, and investors start the next chapter of their lives. While this blog is here to help you stay on track, you can trust us to do that for you as well. Contact us now !
Originally published at https://www.dinamarierealty.com on June 22, 2022.