Prepare yourself for flooded basements, left over junk, non-working power outlets, a stolen air condition unit or furnace, and more.
This 24 hours prior to closing is the final deadline for your buyer(s) to verify that nothing has materially changed, since the first inspection or what is outlined in the sales contract, that will hurt not only you but more importantly your buyer.
It sounds bad because it is. And with all the aforementioned possibilities on the line, why should you be adamant that your buyer accompany you for a final walkthrough?
Because to do so, you have solidified that you are a Professional Realtor(R) and that you care about your buyer, their kids, they'd likely thank you with referral after referral. I'm not kidding.
It's on each of us to speak up. Share what a final walkthrough would mean to your buyer -- today. They need to hear it.
Here are some of the things to check for on your walkthrough 24 hours before closing:
- Turn on the dishwasher and washing machine and let them run a cycle as you go through the rest of the home.
- Check all electric outlets. An easy way to do this is bring your smart phone charger and plug it into each outlet to see if it powers up.
- Turn off and on all the light fixtures.
- Flush all the toilets and make sure there is no flooding/over-flow.
- Make sure the furnace and water heater is still in the house.
- Walk around the exterior make sure the air conditioning unit is still there.
If problems are identified, you and your buyer have options. First, you may choose to walk away from the deal altogether. In other cases, you may choose to postpone the closing until the sellers fix the problem. It is always a good idea for the buyers and sellers with their Agents to try to reach an amicable agreement to make the closing go as planned.
What would you add to this list?
Right now, each of us as professionals has a responsibility to step up and make sure the client buyer knows to do a final walkthrough.
Whether you'd been directly affected by a final walkthrough, or whether your closing occurred or didn’t occur, how you worked out issues found during a final walkthrough with the seller and their agent, please share how you handled it and what advice you would give to buyers.
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