A final walkthrough is a final inspection of a property that is typically conducted by the buyer just before closing on the sale of the property. The purpose of the final walkthrough is to ensure that the property is in the same condition as it was when the purchase agreement was signed and that any agreed-upon repairs or improvements have been made.
During the final walkthrough, the buyer should check for any damage or issues that may have occurred since the last inspection, such as leaks, broken appliances or damages caused by the previous owner. The buyer should also verify that any repairs or improvements that were agreed upon in the purchase contract have been completed.
It's important for the buyer to bring a checklist of items to review during the final walkthrough, so they can ensure they don't miss anything. Also, it's recommended to bring a copy of the purchase contract and any inspection reports to refer to during the walkthrough.
It's also important to schedule the final walkthrough close to the closing date, to ensure that the property is still in the same condition as it was when the purchase agreement was signed.
If there are any issues found during the final walkthrough, the buyer can negotiate with the seller to have them resolved before closing, or ask for a credit or reduction in the purchase price.
It's important to note that the final walkthrough is usually done after all contingencies have been cleared and the loan has been approved.
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