Verification of Condition, aka, Buyer's Final Walk-Through
This is a great reminder to do the walk thrus before closing. Thank you Rhonda Fee from Pleasanton CA. for the great post. Please post comments to Rhonda's original post.
Today I took my buyers for their Verification of Condition, aka Buyer's Final Walk-Through, on their purchase set to close in just 4-days. This is a bank owned property. Approximately 3-weeks ago we had inspections as normally advised that buyers do. At the time of inspections the water was turned off to the inside of the house. To perform inspections, the water was turned on at which time we discovered the water heater had a major problem. Water was quickly flowing from the water heater out of the garage. We turned the water off again and completed our inspections.
It was noted that the water had leaked into the hall closet causing a mildew-like smell and somewhat buckled the baseboard in the closet. Once inspections were completed, we sent the request for repair to the listing agent. The matter was quickly addressed and we were informed that a new water heater was installed and the closet damage would be repaired.
Fast forward to today. Loan docs have been signed and the buyers met me at the property for the Verification of Condition, aka Final Walk -Through. Although this is NOT a contingency to the contract, it is the buyer's right, and in my opinion their duty, to go through the motions of this final walk-through.
Upon opening the front door and stepping foot inside, it was immediately evident that something had gone wrong. The hardwood floor was discolored and in one particular spot it had bubbled. The baseboards are damaged and the grout on the hearth was wet and sandy. The video below is a sample of what my clients and I saw.
Verification of Condition or Buyer's Final Walk-Through is, in my opinion, a right and a duty of of the buyer and their agent. Because of this final walk-through, my clients don't "own" damaged hardwood floors and they are very happy about that!
Originall posted: 12/10/2011: BuyPleasantonForeclosures.com
The Person Behind The Blog...
Rhonda Fee, Realtor, ABR, CHS
www.Rhondafee.com
925-200-0827 Call or Text
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