Home Buyer’s Final Walk-Through Before Settlement Day

Home buyers typically do not get much time to see the homes they will buy.  That’s not always good, yet it is real. Generally, buyers will see a home for the first time during a “showing” which is a visit to a home while it is still for sale.  The next visit may be during a formal home inspection which occurs after a sales contract is signed.  This assumes the buyer has a home inspection. Then the final time before the buyer owns the home is often at the “final walk-through”. 

This walk-through is a legal entitlement to home buyers in Virginia to see the property within 7 days preceding the settlement date.  Buyers are entitled to see the property again to ensure it is in substantially the same condition as it was on the date of the offer to purchase or the date of the home inspection.  (Buyer and seller agree to which one of these dates apply.)  With most transactions taking about a month from the time a sales contract is signed to the date of settlement, there could be 3-5 weeks between the times a buyer sees the home.  A lot can happen to the property during this time, especially when sellers are still living in the home.

The standard for this walk-through is that the property is free and clear of trash and debris, broom clean and in substantially the same physical condition as it was on the previous date agreed upon (i.e., date of offer or date of formal home inspection).  The walk-through is conducted by the buyer and problematic issues can be addressed with the seller.