Ask An Agent: Why Is A Final Walk-Through So Important For Buyers?

Final Walk-Through
Image by Photo Mix from Pixabay.

Hamed Amiran is among the top three per cent of all realtors in Canada.

The Royal LePage Signature Realty sales representative believes he’s in this position because he always goes the extra mile for his clients.

Hamed Amiran

For example, when Amiran noticed one of his clients was about to purchase a home with a roof that was seven years old and one year away from needing to be replaced, he worked with the listing agent to get his client a discount on the purchase price. With the money his client saved upfront, they were able to afford the replacement not long after closing.

Without Amiran’s keen eye, the client may never have benefited from such a great deal. That’s why Amiran is such a big proponent of going on a final walk-through, and it’s why he’s the perfect agent to answer this week’s Ask An Agent question.

Why is a final walk-through so important for buyers?

The final walk-through will give you a complete picture of what you’re buying.  It’s very important for agents to walk through the house with their client to see if any of the changes requested as a condition of the sale have been made. For example, if the house needed a repair, you’d want to make sure that those repairs were done properly by the seller.

You also want to make sure that all the appliances are in good working condition, or as you’d seen them when you walked through the house the first time. Lastly, you want to make sure that the house is clean, that the light fixtures are working and that the furnace inside the house is also working properly. Any repairs or extra costs should not add anything to the overall cost of the house after closing.

READ: As A Buyer, Should You Do Your Own Home Inspection?

I also highly recommend hiring a licensed home inspector for the final walk-through. There are many things a home inspector has on their list that go beyond checking the lights, furnace and appliances such as the home’s overall safety,  moisture levels and flood history. The home inspector’s list would be longer than what a realtor can check, so you should have them with you on the day of or the day before closing to make sure the house you are buying is in a completely finished and satisfactory condition.

Normally, people would do the inspection when they are buying the property. But if the property needed extensive work that the seller promised to do, it doesn’t hurt to hire a home inspector to make sure everything is in good shape. It could save you thousands in the end, rather than closing on the home and finding out later that something still needs fixing.

READ: 3 Home Buying Trends To Keep An Eye On In 2019

If there is an issue, it could affect the closing. Some things can be done within a day and the buyer can come back later in the day to verify that the seller has done it. But, if the seller doesn’t have time to fix the issue found in the final walk-through, you can either ask for a price adjustment, so you pay less in the end, or ask that the purchase agreement be amended, so that closing is delayed and the seller can fix the problem within the agreed upon timeframe. If an issue persists or is too big to fix with an amended closing date, the seller will either have to compensate the buyer or release the buyer from the purchase agreement to go look for another house. There are also times when the buyer would prefer to fix an issue themselves, such as preferring to paint the home the colour they want.

READ: Real Estate Terms All First-Time Homebuyers Should Know

Remember too that competition for a home does not prevent you from being allowed a final walk-through before you buy a home. Your real estate agent will know how to put in a final walk-through as a clause in the offer. You can also get assurances from the seller that there aren’t any problems with the house with causes like, “The seller acknowledges all appliances are in good working order,” or “the seller acknowledges there are no problems with the foundation.”

If anything happens in violation of these clauses, it’s best for the buyer to talk to their real estate lawyer about how to proceed.


Do you have a real estate question? Let us know on TwitterFacebook or via email at info@TorontoStoreys.com

More from Aaron Broverman

A Bad First Experience With A Real Estate Agent Led Her To Become A Great Agent: Meet Zuzana Misik

Hard-working doesn’t begin to describe how hard this real estate agent works....
Read More