We are counting down the days (or even hours) now. Your home is empty, inspection-related repairs are complete and all that’s left between you and signing documents is the final walk-through by your buyers and their representatives.
The main reason for the walk-through is to allow the inspector to check on the seller-approved repairs from the home inspection. Sellers should always have the repairs completed before the walk-through. A secondary reason is to ensure the property is in the same condition – in fact, cleaner – than it was during the buyers’ last visit (typically at the first home inspection). It’s also a chance to make sure all personal property – the picnic table and benches in the back yard, for example – included in the purchase agreement is there and in the same condition.
Surprisingly, some buyers forgo a walk-through. That would be great news for sellers.
What the walk-through is NOT is a chance to have buyers’ parents and friends stop by for a first look, a chance to start moving in boxes or having a contractor start measuring for a new deck. In addition, this is not the time to leave your keys and garage door openers with the buyers. That will come later unless you have moved out; in that case, the listing agent should have received all keys and garage remotes.
Buyers do not own the home until all documents have been signed and the keys have been placed securely in their hands. Sellers are still liable for anything that happens on the property – at least for a few more hours or days.
The walk-through generally takes place within five days of closing and you, Mr. Seller, should not be there. We’ve heard of buyers doing the final walk-through on the same day as their signing. That feels a bit too close for comfort, as a seller is given little or no time to resolve any last-hour issues. Try to have your agent arrange for the walk-through at a time when you are already going to be out and allow for 30-60 minutes for the process to be completed.
It’s quite likely that not only have you moved out but you’ve already performed the early signing of closing documents and have “moved on!”. And, assuming the walk-through goes smoothly, the home transaction can move forward as scheduled.