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Final Walk-Through
By Ruben Gonzalez Jr
Prudential California Realty(DBA)
Today’s the day!
You found the perfect house, made an offer, negotiated the price, had an
inspection and ensured your mortgage. Now, the only thing standing in the way of
you and “home sweet home” is your final walk-through.
A walk-through is
normally scheduled the day of, or day before the settlement, as the seller should
be completely moved out. The object of the walk-through is to ensure that the
house stands in the same condition as when you agreed to buy it.
This is not the
time to nitpick about nail holes or carpet imperfections. Unless you’ve
negotiated allowances for such issues, you’ll have to address them later after
you’ve signed your name on the contract.
What could impact
the transaction is if property and fixtures that the seller agreed to leave
behind are missing, such as a washing machine, pool table or garage cabinets;
or when the seller leaves things he or she was supposed to remove, such as
paint cans, furniture and other belongings.
With your agent at
your side, be sure that obligatory repairs flagged during the home inspection
are completed to code and satisfaction. If the seller agreed to replace an
aging water heater but didn’t do it, this must be accounted for during
settlement.
You may be eager
to leave the house and sign that contract, but don’t rush through the
inspection. Run the appliances through a full cycle to make sure they work.
Turn on all faucets and showers as well.
Some contracts
will specify that the buyer complete a walk-through inspection a week or two
prior to settlement, and then schedule a quick meeting prior to settlement to
check off any items previously noted. Again, any items or tasks that aren’t
complete must be justified at the time of settlement.
Though issues may
arise, the majority of walk-throughs go without a hitch as both parties are eager
to complete the deal and willing to negotiate any final hurdles.
Ruben Gonzalez can be reached
at (562) 507-0754 or Email me.
Prudential (dba) is an independently owned and
operated broker member of BRER Affiliates LLC. Prudential, the
Prudential logo and the Rock symbol are registered service marks of Prudential
Financial, Inc. and its related entities, registered in many jurisdictions
worldwide. Used under license with no other affiliation with Prudential. Equal
Housing Opportunity.
Friday, February 1, 2013
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