National Agents:
A walk thru is not required, but a good idea for the seller. The utilities should be on until the day of settlement so the buyer and buyer’s agent can do a walk thru a day or two before settlement. Sellers should be aware of items that will be checked to be in working order. (See list below)
A walk thru is not required, but a good idea for the seller. The utilities should be on until the day of settlement so the buyer and buyer’s agent can do a walk thru a day or two before settlement. Sellers should be aware of items that will be checked to be in working order. (See list below)
A few days before settlement, the house should be empty, broom swept and everything in working order.
If you represent the seller, have the seller transfer (not disconnect) the utilities on the date of settlement. Leave the lock box on the door so if the buyer does a walk-thru they can get in. Have the buyer’s agent keep the key until settlement and then give it to the buyer. Settlement day, you should get your lockbox off the door.
If you represent the buyer, communicate with the listing agent on what utilities the buyer needs to contact to put them in their name on the date of settlement. If doing a walk thru, make arrangements to get in using the lockbox key.
For example: If at the walk-thru the sink is leaking or other issue, it will be remedied prior to settlement or by agreement by the seller writing a check for the approximate cost to remedy at the settlement table. If the buyer were to argue to void the contract, he could not. A walk thru is not a contingency.
What To Check During a Final Walkthrough
- Turn on and off every light fixture.
- Run water and check for leaks under sinks.
- Test all appliances.
- Check garage door openers.
- Open and close all doors.
- Flush toilets.
- Inspect ceilings, walls, and floors.
- Run the garbage disposal and exhaust fans.
- Home inspection items have been resolved.
- This has been another exciting and rewarding “Training in a Minute”.
Keith