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Avoiding drama at the final walk through

Remember to make a walk-through checklist 
By Michael H. Wasserman

In real estate, one would think a final pre-closing walk through is pretty straightforward:
  • Is the house still standing? Check 
  • Are the sellers belongings removed? Check 
  • Are the shower heads and appliances still in place? Check Check 
  • Are there new holes in the walls or broken windows? Check Check
Yet our law firm sees SO MUCH 11th hour drama
  • Locked storage rooms that could not examined 
  • Crawlspaces that were not cleaned out 
  • Broken washing machines 
  • Backed up plumbing 
  • Missing mailbox keys
We saw all of these—and more—last year. These pain points inflame the furies of already stressed out clients.

Let me suggest that we haven't been taking walk throughs seriously enough. Buyers call me with post-closing and at-closing problems that could have been avoided. They are never happy calls. Some end better than others.

I’m increasingly in favor of having the final walk thru the day before closing and not the day of closing. This allows time to identify problems; and gives sellers and attorneys more time to address issues before closing. The logistics may not work out for all deals; yet allowing sufficient time to act has become a luxury few are willing to allow themselves.

That said, here are two pre-closing checklists I’d like to see brokers and buyers complete to avoid last-minute drama.

During buying process
  • Go on record with the listing broker to make sure that keys for all locks are available
  • Ensure seller has identified the location of any condo common area storage and /or mailboxes
  • Confirm how ALL property keys will be delivered—or where they will be located
  • Confirm the number of key fobs, garage transmitters, and parking passes
On the final walk through
  • Look in every closet and storage space
  • Open and close every door
  • Run every appliance (even the furnace)
  • Flush every toilet
  • Run every faucet
  • Ensure every key fob, garage transmitter, and parking pass is in possession or accounted for 
Brokers: remind your buyers that real estate is all about caveat emptor (buyer beware). Once the closing is done, any remaining issues are no longer the sellers’ problem. It is theirs.

Buyers: don't hesitate to call in a real estate lawyer. Let us help negotiate credits, confirm repairs, and secure commitments to clear out that last roomful of abandoned furniture…before it all becomes yours.

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