Final Walkthrough

final walkthrough

 

The Final walkthrough inspection is a real estate tradition in Los Angeles. The purpose of conducting a final walk through is to guarantee to the buyer that the property is in the same condition as when the buyer first saw the property, and also to confirm that any work that was agreed to be done in escrow with a request for repairs was completed. Really, what a final walk through is all about is the buyer taking one last look at the property before closing.

Paragraph 16 VP in RPA

Residential Purchase Agreement Paragraph 16

 

The residential purchase agreement by default schedules a final walk through 5 days before the close of escrow.  Since a final walk through is not required to complete the sale, it can be waived if the buyer chooses.

After conducting the final walkthrough the buyer will fill out the Verification of Property Condition (VP) form, that will note if the buyer was satisfied with the condition of the property, or will point out anything further that must be done prior to close. Make sure the property is in “Broom Swept” condition. If its dirty, you may ask to have the seller hire a cleaning company to clean it. I recommend doing your final walk through before you receive loan docs, that way if anything is wrong, you can hold off on signing them until its fixed.

 

 

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