It's up to you if you want to take them but the agent should have 100% asked. You do need to sign a final walk through paper where you state that you did it and were satisfied, did it and not satisfied and then spell out what the seller needs to do, or waive it but all of that needs to be in writing.
It can be normal for the seller to occupy the house for a term after closes, but it's normally with a rebate ruin if a sizable portion or the proceeds and a strict and punitive condition for overstay ( eg. $1000 a day rent after the 30 days).
Final walk-throughs are not required but are highly recommended.
But there is one more important step to complete: the final walk-through. Often pressed for time, buyers might be tempted to skip the final walk-through, but expert REALTORS® warn that it's never a good idea to pass on this last opportunity to inspect your future home.
A buyer can back out of a home purchase even after signing a contract if all agreed-upon contingencies are not met. Common reasons for buyers to back out include issues revealed during a home inspection and problems with financing. Having a backup offer in place can help soften the blow in case a deal falls through.
Renegotiate your offer.
This could mean a last-minute change to the sales contract where the seller agrees to fix (and pay for) the defect, you agree to pay for the costs or you agree to split the difference of the costs. In some cases, you may have enough leverage to ask for a lower sale price.
Should a Tenant be Present During the Final Inspection? Although not usually required, it is strongly recommended that a tenant should always be present during the final inspection whenever possible.
In most cases, the final walk-through is scheduled within 24 hours prior to the closing date. Your real estate agent can help you set a time with the seller's agent when you can be sure the property will be accessible and (hopefully) vacant.
Most home purchase agreements have a standard clause similar to this example: “If the seller fails to vacate the property as agreed, the seller shall be responsible for all additional expenses, including attorney's fees, incurred by the buyer in order to take possession as a result of the seller's failure to vacate.”
A closing on a home can be delayed for many reasons, including a lower-than-expected assessment, problems found at the time of the inspection, or if there is an issue with your mortgage loan.
The seller is not always responsible for undisclosed defects. Liability often extends to either party's real estate broker, real estate agent (Realtor), or home inspector. Every case is different.
Typically, the final walk-through is attended by the buyer and the buyer's agent, without the seller or seller's agent present. This gives the buyer freedom to inspect the property at their leisure, without feeling pressure from the seller.
It's an exciting moment, but it's not a done deal until the final papers are signed. That means the seller can back out of the contract, though there may be legal consequences if they do so in a way that violates the contract terms.
Walk-through inspections can help protect the landlord and tenants. However, not all states require landlords to do a final walk-through inspection. With that in mind, even if a landlord is not obliged to perform one, there's a benefit to practicing this.
In California, normal wear and tear refers to the natural aging of a property caused by regular use. Think of it as the natural aging process of a rental unit that happens regardless of how careful a tenant is. These are expected and unavoidable effects of living in a space over time.
Contractual Obligations: Depending on your purchase contract, moving in before the final inspection could be in violation of the terms. This could lead to legal complications, making this period of change even more stressful and costly.
Yes, it's possible, although rare, for a buyer to back out of the deal after the final walk-through inspection.
This part is important: Having the walkthrough near closing day means the house should be empty, giving you a good look at the whole place as a blank canvas. The seller should have moved out their stuff and hopefully not damaged floors and walls in the process.
Ensuring the seller completes all repairs properly is crucial to protecting your investment. If the seller refuses to address the repairs, you might need to consider legal action. A real estate attorney can help you understand your legal options and the best course of action.
A final walkthrough helps ensure no new damage has occurred. Whether it is a broken window, a leaky faucet, or unauthorized changes to the property, this is your last chance to address these issues before closing.
Your lender will need an insurance binder from your insurance company 10 days before closing. Check in with your lender to determine if they need any additional information from you. Get a change of address package from the U.S. Postal Service and begin the change of address notification process.
On closing day, you'll sign a stack of documents, pay closing costs and receive the keys to your house.