Real Estate with Dallice: Final walk through, Closing, Moving!
And you thought this day would never come!?
Final Walk through
With just 48 hours or so until Closing, there are some details to double check. A final walk through sounds less than it is. Let me explain why it’s so important. According to the Contract to Buy, you as the buyer, are entitled to a final walk through. We use this to accomplish several goals:
Firstly, you want to be sure that the property is in the same (or fairly similar) condition as when you put in the Offer to Buy. That means the seller or the movers have not poked holes in the walls as they move out the furniture, the light fixtures and window coverings are still there etc. Normal wear and tear is ok, trashing the house with a bon voyage party, is not.
Secondly, if you formulated an Inspection Resolution that required the Seller to fix, correct, replace or clean things, this is your chance to actually check that. If you do not check it and the Seller has forgotten to do something, you lose your chance to leverage closing to get it taken care of. (Inspection Resolution carries through Closing so you don’t lose your entitlement to have something done, it just becomes harder to enforce it.)
And thirdly, there is peace of mind in checking the house one more time before going to closing. The Seller may have moved out days or weeks before closing and in the event a flood or other catastrophe has occurred, it is MUCH better to document it before closing than after. After closing you need to prove the issue was the Sellers responsibility – their insurance claim – or it becomes yours. How do you prove the furnace stopped working yesterday rather than today after closing? By doing a final walk through!
It’s anticlimactic, if done right! 🙂
We all show up at the title companies closing office and sign papers that hold no surprises. The Buyer and Seller trade contact info for all those questions the Buyer may have and the wayward mail the Seller needs to track down. Aside from moving, the hard work has all been done and Closing is generally an exciting and very friendly affair. You will leave closing with KEYS to your new place!
*Buyers, you may now go to the giant sale with tantalizing interest free credit options at Furniture Row! You know… the one I told you to steer clear of until Closing was complete.
You probably have movers scheduled, but a couple of days before they are due, it’s good to double check with them. Remind them and yourself when they are expected, where they are going and what the cost is estimated to be. Professional movers offer insurance – read the fine print. You may be surprised at how much is not covered! Check with your regular home owners policy to see what is covered and what is not. There are countless stories of bad movers, price hikes midway, damage to property, missing property and more. Please take care of yourself by doing due diligence about who you are using. Moving to your new house should be the icing on the cake – a happy time. Not the final straw!
I have had experiences at both ends of the “customer satisfaction spectrum” and am happy to share lessons with you… As well as the name of the movers that have served me the best. 🙂