Walk-Through Prior to Closing-PLEASE

The purpose of the final walk-through is really simple and can take as little as 15 minutes, depending on the size of the house. This is the event where the buyer validates that the condition of the house did not change during the final weeks of the seller’s ownership. It gives the buyer assurance that he is receiving the house in the condition he anticipated.

Prior to settlement, buyers are entitled to walk through the property.  As a purchase, you want nothing more than to assure that the property is being delivered in the condition promised by the seller. If the property is to be “broom clean,” the house should be entirely devoid of trash and old furniture. If an old car was to be removed from the yard, it should be gone. If the appliances worked when contract was ratified, they should work now. Get the picture?

With new property, you’ll want to walk through with the builder’s representative and your inspector. Items that are incomplete or not done at all should be marked on the builder’s “punch list.” Naturally, a duplicate buyer’s list should be maintained.

Buyers should insist that all seller obligations, under the terms of the contract, are satisfied and if they are not satisfied, buyers could then demand suitable compensation. For instance, if a repair is not made, then an amount from the seller should be placed in escrow to assure completion.

The final walk-through is not the time for the buyer to raise new concerns about previously known issues. As an example, if the home inspector indicated the roof still has several years of serviceability, and the appraiser did not find a problem with the roof, the buyer cannot now walk away from the deal because of a roofing issue. He can halt the transaction if a large tree recently smashed through the roof though.

A buyer’s agent can easily and quickly step even a novice buyer through a meaningful final walk-through. So please don’t side step this process.

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