Details, Details - Just Before Closing on Your Ohio Home
This week we were delayed for a walkthrough due to two feet of snow in Northeastern Ohio! This list is a very good reminder of why you need a walkthrough as a buyer.
Details, Details - Just Before Closing on Your Massachusetts Home
With end of the year closings looming, now is a good time to review the steps necessary for a final walk-through of your Massachusetts home.
You are ready to close on your new home. Your mortgage commitment is in place. The appraisal has been done. The closing attorney has set the date and time for you to come in to sign all of the papers. There is just one more crucial step - the final walk-through of the property you are buying.
What actually happens at a final walk-through?
- Any repairs that were specified in the purchase and sale agreement should have been done. You need to go through the list and inspect each repair. For major repairs that have done by professionals, you should have been provided with a paid invoice from the seller.
- You will need to check on the property that is included in the sale. If the agreement states that the refrigerator, washer, dryer, window treatments or any other items are to be left, this is the time to make sure they are all still there.
- Sometimes an accident can happen during the seller's move-out. Did the movers nick the walls or stain the rugs? This needs to be accounted for.
- Walk through every room, open all of the closets, cabinets and draws.
- Run the stove, dishwasher and any other appliance that is part of the transaction.
- Turn on the faucets, flush the toilets and check the shower.
- Switch on all of the light switches.
- Check the heating system and the air conditioning. Everything should be working.
- During the walk-through you may sometimes see things that were not visible when furniture and carpeting were in the home. I have often seen scratches or holes that were previously covered with area rugs.
- Look in the attic, the basement and all storage places to be sure that the owners have cleaned them out and taken their possessions with them.
- Don't forget to check the garage and test the garage door openers to make sure that they are still functioning.
What if something goes wrong at the time of the final walk-through?
It is entirely possible that the sellers' mover has smashed a hole in the wall or there may be a stain on the floor that was not there when you last saw the home.
The seller needs to reimburse you for any problems that should arise. Cash can be put aside in escrow until said repairs are made or you can settle for a credit in an amount deemed appropriate. If mishaps occur, you need to be compensated.
When you are finally satisfied that everything has been accounted for in your new home - it's time to move on to a successful closing.
Copyright 2010 "Details, Details - Just Before Closing on Your Massachusetts Home "
Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230
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