The closing on your new home is only a few days away.
The only hurdle between you and your dream home is the walk-through a/k/a the Final Inspection.
With visions of paint chips dancing in your head, you might be tempted to skip this step. Don’t!
1-What Is A Walk-through?
As a buyer, you have the right to conduct a final inspection of the property no later than 1-5 days prior to the closing. The purpose is to:
Confirm that the property is in the same or better condition than it was at the time of the binding agreement.
Confirm that any repairs which were agreed to as a result of the original inspection are complete.
Confirm status of miscellaneous property such as landscaping and fixtures.
Confirm the removal of the sellers’ personal possessions and debris.
2-How To Conduct A Walk-through
Hire a contractor or inspector to accompany you.
Check the receipts for the repair work against the inspection contingency release.
Does the receipt correspond to the work requested?
Have the vendors been paid in full?
Test all the systems: HVAC, plumbing, electrical.
Check for inclusion/exclusion of miscellaneous property.
The sellers are not allowed to remove property such as blinds, bathroom mirrors, or boxwoods unless it is agreed upon in the contract.
Check for the removal of sellers’ personal property and debris.
3-What If Walk-through Prompts Walk-out?
It happens. The toilet doesn’t flush, the dining room chandelier is missing, and the basement is full of ruble. Relax. There are options.
Request that the seller repair, replace, or remove the property prior to closing.
Negotiate a credit to repair, replace, or remove the property.
Proceed to closing but hold back funds pending receipt of paid invoices for completion of the work.
Most of the time a walk-through is uneventful. But if the property’s condition is not as it was or improved, it’s better to know before you move in.
Comments(1)