From time to time, a buyer and seller will have negotiated any number of repairs during escrow. The walk-through gives the buyer a chance to ascertain all the agreed-upon work has been done to specs, and that everything is in working order.
Sometimes, buyers are so anxious to close that they expeditiously whisk through the walkthrough without taking time to properly inspect the property. This can lead to minor issues once the buyers take ownership. On the other hand, the final walk through can trigger positive and negative emotions during the final part of the sales process.
Have you ever heard of Buyer’s remorse? You want to avoid that scenario, wouldn’t you? Just another reason why you need to do it. This will make you feel more confident about your home purchase. The final walkthrough does more than that, it also helps ensure that nothing changes in the terms of the contract and in the home’s condition.
Here are some tips to help buyers complete a smooth and effective walkthrough:
Don't do the walk-through your day of closing: A walk-through can reveal repairs that were promised but didnt happen. If the walkhrough is performed the same day as closing, there may well not be time to get problems remedied. It's not unusual for two walkthroughs to occur. The first recognizes some issues for the buyer, and the next ensures those issues were tackled.
Take the walk-through seriously: Don't view it as simply looking at a box. You must run all the faucets and look for leakages. Flush the bathroom bowls, open up every windows and close it and make sure the kitchen appliances work. Compare work that was promised by taking your Buyers Inspection Notice with you to the walk-through
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Take Pictures: Sometimes the sellers furniture or boxes may still be in the home during the walk-through and that could hide things. If there is a large cabinet covering a big portion of a wall, take a picture so that you can remember what was there and why you might have missed something. Taking pictures can also help if you were promised certain things, that were in the home during the walk-through but now have been replaced with something else that you weren’t aware of.
99% of the time, the walk-through is an easy task and everything goes according to plan. Keep in mind, most Brokerages require a signature from the seller that you 1. Agree that the property is ok and agreed upon repairs look to be completed, 2. That some repairs were missed and you line them all out or 3. That you waive the walkthrough completely and release all responsibility from the Seller and Brokers. When in doubt as to what to do, talk to your Agent.
All Things Real Estate by Lori Webster
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