Real Estate Tips from Bob Rich-Final Walk-Through

Prior to settlement, buyers are entitled to walk through the property. As a purchaser, 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 the contract was ratified, they should work now.

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 bec marked on the builder’s “punch list”. Naturally, a duplicate buyer’s list should be maintained.

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