What does walkthrough mean in the context of real estate?

In the context of real estate, a walkthrough refers to a final inspection of a property prior to closing. This critical step allows buyers to assess the condition of the property and ensure that any repairs requested during negotiations have been completed to their satisfaction. It serves as an opportunity to verify that the property is in the same condition as when they agreed to purchase it. A walkthrough typically occurs shortly before the closing date and is a key part of the home-buying process, ensuring that the buyer is fully informed and comfortable with their investment right before finalizing the transaction.

Other options, while related to various aspects of real estate, do not specifically capture this crucial step in the closing process. Evaluating potential investment properties is a preliminary activity, touring open houses serves a different purpose for prospective buyers, and marketing strategies focus on promoting properties, rather than the final inspection phase. Each of these activities is important in the real estate process, but they do not reflect the meaning of walkthrough as accurately as the concept of a final inspection does.