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Why..... should the buyer do a final walkthrough? A final walk through is very important to all buyers because it's your last chance to inspect the property before closing. Even if my buyers don't have the time to perform it themselves, or out of town... my job as their agent is to perform it on behalf of them. The main purpose of the walk-through inspection is to protect yourself and your future property from sellers that may not have lived up to the terms of the contract If the seller has not, you want to know about it in advance of the closing so remedies (both monetary and otherwise) can be agreed upon before money changes hands. . Usually during the initial inspection, I advise my clients to take pictures, so there is no misunderstanding as to what the house looked like when the clients saw the home last.
When .... Should the walk through take place?
As your agent, I always try to arrange for the final walk through the day or two before the real estate closing, Additionally, if possible I do another walk through right before the closing.
If you are buying a house that is owned by a relocation company, it is required to schedule a final walk through fo at least three business days before closing. This is typically stated in the relocation company's addendum in order for the relocation company ample time to work out any issues that might arise from the final walk through. If something is wrong and you request a credit, many parties have to agree before they will proceed to close. If we do a walkthrough this far in advance, we should do another walk through right before the closing.
What .....to look for during the walk through?
It is important to check out the condition of the house right before the closing. We want to make sure that the sellers have completely moved out and that the house is in "broom clean" condition if that what the contract states. In some contracts I have noted that instead of broom clean, it is stated that the home needs to be professionally cleaned.
Additionally, we will be checking to make sure that any appliances, light fixtures, built ins, blinds etc. that are supposed to stay with the house (per the written contract) are still in the house and work properly. I flush all the toilets and run the water in all the faucets. It is important to check that the pipes are not leaking. Next it is important to look to see if there was any accidental damage done to the house when the sellers moved out, like a a scratched hardwood floor, a broken storm door etc.
If the water is turned off or the electricity is off and you can't check the appliances - this needs to be addressed. During my last closing, the seller turned off the gas too early. The gas company had to be contacted to turn the gas back on in order for the buyer to test the oven and fireplace.
During the final walk through, please bring all your paperwork with you. This should include your sales contract, any addendum(s) to the sales contract and inspection records. If any requested repair work was done to the home due to the inspection period, this is the time we check to see if it was actually done
It's better to raise any objections during the walk through than wait until the closing. If any items are missing or anything has been left behind that should not have been, I rather address them right after the final walkthrough. At the closing, the seller's attorney should have any necessary receipts and warranties for repair work done, to give to your attorney.
If you want more information regarding specific real estate sales in the Buffalo Grove, Long Grove, and Lincolnshire area, please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com I am available 24/7 to make appointments!
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8 comments • Judy Greenberg- Coldwell Banker- Buffalo Grove- Long Grove Homes for Sale • May 27 2008 04:50PM
Judy... Looks like you have everything covered and do a heck of a job for your buyers. I'd also advise them not to be overly picky, sometimes once the furniture is removed those little defects that were not noticed at the time of purchase or inspection can cause undue stress. Don't sweat the small stuff!
Judy, I completely agree with your three W's. The what is very important. I had the same situation recently with the gas turned off. Another Realtor told me once a whole stove was gone. Give me a break. You need to know these things prior to closing.
Judy, this is a terrific list. I've seen green pools, uncut grass, trash left behind and window treatments taken that should have stayed. Just think if the buyers didn't do a walk through and signed the sale documents believing that everything was peachy! But, I do agree with Dan to not sweat the small stuff.
Judy, This is a great way to prepare your buyers for the process of the walk-through. Very thorough list.
W-W-Wonderful!
I just did a walkthru today. My seller did his closing in the morning and was on the road. The buyer did the walkthru in the afternoon and found some problems. I played it cooland the buyer ended up accepting the house with the problems.
Hi Judy - I've been out of town & have much catching up to do. You are doing such wonderful work for Buffalo Grove. I like the 3 W's. Very important info!
Great post Judy. Thankfully I havent' had anything really major happen in the walk-thru (knock on wood). Your post is really good.