walk-through is an work, there is a problem with the
important step in a real working systems of the home. If
estate transaction. To get you start the dishwasher, and it
the most out of it, make sure you leaks before the cycle is
understand the terms of the finished, that appliance is not
purchase contract. in normal working order. If all
the surface burners on the stove
Check Things the Contract won't light (if gas) or heat to
Specifies red hot (if electric), ditto. If
the heat or air conditioning
When you signed the contact to won't come on, we have another
purchase your new home, certain problem with the working systems.
elements and characteristics were
specified. If the home does not
match those elements on the Allow yourself enough time to
walk-through, the contract will really pay attention and check on
give you leveraging position. things. Usually an hour to an
Consider the following: hour and a half is enough. Don't
have a chip on your shoulder. Do
If there's a hole in the be a good business person and
wallboard caused by the leg of a systematically check.
table going through it when the
seller was moving out, the house If your contract calls for
is not in substantially the same something you can't easily judge
condition as when you wrote the and it requires a third party to
contract and the wallboard was do it (such as the HVAC service
intact. mentioned above), you can request
a copy of a paid bill at
If you fill up that lovely, large settlement. This is usually
Jacuzzi tub and the jets won't sufficient indication that the
work has been done, and you know the balance released to the
whom to call if there is a seller.
problem.
If the seller is not willing to
What If You Find a Problem? accept the idea of funds in
escrow, I'd request a delay of
Settlement may, or may not, be settlement until the work has
delayed if a problem is been completed. The terms of such
discovered. If it's small and a delay need to be spelled out in
something you can easily fix, you an addendum to your contract.
may just want to ignore it. If it
is something expensive and Setting out to use walk-through
extensive, you probably don't to change the terms of a contract
want to ignore it. Many is not fair. However, if a
approaches are possible, but my walk-through shows that the terms
inclination would be to go to the of your contract have not been
settlement table anyway and met, you need to figure out how
request that enough money be set to get things back on track and
aside in an escrow account held are behaving appropriately when
by a third party (not the buyer you do so.
or the seller) to fix the
problem. I'd pad the amount a Most walk-throughs go smoothly.
little to be sure there's enough. Let's hope yours is one of the
Those funds could then be used to smooth ones.
complete the needed work and then
About the Author:
Raynor James is with http://www.fsboamerica.org - FSBO homes for sale by owner. Visit our "sell my home" page at http://www.fsboamerica.org/seller.cfm to sell your own home yourself with a free 1 month listing.
Source: www.isnare.com
