District of Columbia Buyer's Final Walk Through Inspection Form
Description
How to fill out Buyer's Final Walk Through Inspection Form?
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FAQ
The final walk through is not required by law - however, as a buyer, you should be highly motivated to complete this. You want to make sure everything is in working order as expected, and that nothing has gone wrong as a result of the former owner vacating the property (if indeed they are no longer there).
The answer is yes a homebuyer can legally walk away from a real estate deal after the final walkthrough. According to the National Association of Realtors (NAR) report, around 5% of real estate contracts are terminated before closing.
Though it's not required by law, in most real estate transactions a final walkthrough is part of the standard process prior to closing. Both the buyers and the sellers will be expected to sign off on the home's condition with a final walkthrough form before the new buyers take possession.
Providing your clients with a final walk-through checklist will help keep them focused during the homestretch of the buying process. The final walkthrough is your client's last chance to review the home and property from front to back and ensure they are satisfied before closing on the deal.
What To Check During a Final WalkthroughTurn on and off every light fixture.Run water and check for leaks under sinks.Test all appliances.Check garage door openers.Open and close all doors.Flush toilets.Inspect ceilings, walls, and floors.Run the garbage disposal and exhaust fans.More items...
What should be on your final walk through checklist:Bring all the essentials.Verify final repairs.Check for all items included in the sale.Open windows and doors.Carefully inspect the bathrooms.Review the condition of the kitchen, too.Test all the appliances.Try out the heating and air conditioning.More items...
There's no rule or legal requirement that homebuyers must participate in a final walk-through inspection right before closing. But those who skip it could be making a costly mistake. Problems at walk-through don't crop up often.
Follow this checklist to ensure you don't overlook any steps.Turn on and off every light fixture.Run water and check for leaks under sinks.Test all appliances.Check garage door openers.Open and close all doors.Flush toilets.Inspect ceilings, walls, and floors.Run the garbage disposal and exhaust fans.More items...
The final walk through is exactly what it sounds like: the new homeowner takes a physical tour of their house right before closing. The purpose of the final walk through is to make sure the house you're buying is in the condition you agreed to when you bought it.
The buyer and the agent will do the final walk-through, typically 24 hours before closing. They will note any issues that arise. The seller addresses the buyer's concerns. If any problems arise in the final walk-through, the seller is allowed to address them in a timely manner.