Buyers Closing Day

On closing day (or possession day) a walk through inspection is in order. Your Realtor will arrange to visit the home. Make sure to call the lawyer in advance to make sure everything is following through as planned. You have bought the home at this point and you are checking to ensure that it is in the same state as when you made the decision to buy. The walk-through is a superficial checking of the residence and appliances.

At this point you are looking for major items that may have changed since you viewed the property when you wrote your purchase contract. In the case of buying a home that has already been lived in, of course it isn’t in perfect condition, but it should be in the same state that you purchased it in. Substantial items like broken windows, vehicle damage in garages, flooding, and broken appliances are all important to check. You want to be cautious of the utilities being turned off during the walk through. You need the water turned on to check the dishwasher is functional. This walk through is not a detailed full inspection and rarely does an issue come to light that is serious enough for a purchaser to back out of a transaction. However, I it still important to be thorough during these checks. If the contract specifies an item that has not been done or an item that has not been left, then that could mean that you receive some compensation from the seller. Make sure you leave yourself plenty of time to complete this thorough check. Make sure that you are also aware of what your contract states so you can identify what has not been done.