A final walkthrough is just what it sounds like – one final walk through the house before you take possession. Typically this happens the day of closing. The purpose is to make sure that the home is in the same or better condition than it was when you originally saw it. Your agent will accompany you to the house to make sure that any repairs which were supposed to have been made were completed, that all appliances included in the Agreement of Sale are there, that the home is in broom clean condition and that no damage has occurred between the time you last saw it and now.
In homes which have been empty, you will want to make sure that there has not been any vandalism. If you are closing in the winter, this step is extremely important to ensure pipes have not frozen. If the home was occupied, check to make sure the sellers cleaned it out and did not leave a pile of unwanted belongings for you to haul to the dump. Once you are finished you will have to sign a form stating that you do or do not accept the condition of the home. If any problems were discovered they can be addressed at the closing, if everything was acceptable, the closing will proceed as planned.