Wednesday, November 6, 2013

What Not to Overlook on a Final Walk-through

When Buyers enter the last week before closing on a new home, the level of excitement becomes apparent.  Making big changes in life, such as buying a home, are certainly cause for celebration.  However, in real estate, the deal’s not over till it’s over.  A very important step to address prior to closing is the final walk-through.  Almost all Buyers have a home inspection done early in the buying process.  Then, there’s as much as a 30 to 45 wait until the property closes and the Buyer gets the keys.  A lot can change in that time frame.  in addition, the Buyer may have negotiated a list of repairs.  As a result, the final walk-through is a critical piece of the process.
Typically, within 48 hours of closing, the Buyer and his/her Realtor should schedule the walk-through to be sure that:

  • Repairs negotiated have been made. Sometimes these are easy to check.  For example, if a broken window pane was to be replaced, the repair will be obvious.  Other repairs, though, are not so easy to discern.  Therefore, it is important to obtain copies of paid bills and any related warranties that have been performed as part of the contract.  Not only does this provide documentation of exactly what work was done, but it also gives the Buyer a point of future contact for questions or additional work in the future.

  • All items that were included in the sale price—draperies, lighting fixtures—are still there.  Items included in the sale are noted on the Seller’s Property Disclosure.  However, if the Seller utilizes a professional mover, mistakes can be made if communication is not clear.

  • All appliances and systems (HVAC, water heater) are operating.  These are checked as part of a regular home inspection, but appliances can break with normal wear and tear.  It is also helpful to determine whether instruction booklets or existing warranties are on site.

  • No plants or shrubs have been removed from the yard.  Normally, if a Seller wants to remove a plant for sentimental reasons, this is clearly stated in the disclosures.  Unfortunately, some Sellers don’t get to this level of detail and assume it won’t be a problem if they take “the rose bush that grandma gave me.”  Knowing about these changes prior to closing will enable the parties to the contract to address any issues.

  • Garage door openers, other remotes, pool keys, etc. are available.  It is often helpful to have a checklist of those type of things to assure that the subject is addressed.  It is very easy for a Seller to drive away from a closing with the garage door opener still clipped to his car visor.

  • All personal items of the Sellers and all debris have been removed.  Only a small fraction of Sellers leave items behind, but it does happen.  In addition, the Georgia contract stipulates that the Seller need only have the property “broom swept” clean unless the contract calls for professional cleaning.  After many years in the business, I can attest that one person’s definition of “clean” doesn’t always match another person’s.  If the outside trash cans are piled high with trash, it will be important to note the pick up schedule.  Often, city crews only pick up large items (too big for cans) once per month.
The final walk-through is an important process element that assures that any last minute fixes can be made before property transfer.  Doing the walk-through will also facilitate a happy and smooth closing environment on the big day.

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