These days, it seems that properties on the market come in two forms: New construction or residential resale. Walkthroughs have been a traditional way of making sure everything is the way it needs to be prior to closing. What buyers need to be aware of, however, is that the walkthrough process for each of these situations is very different. The article below goes deeper into these details.
The New Construction Walkthrough
There are actually several walkthroughs that occur before closing a new construction home. Often, there is a pre-drywall walk-through, a walkthrough about a week before closing and than the walkthrough the day of closing. The walkthrough one week before closing is an important one. During this time, buyers can highlight items that need to be repaired. It is important that buyers know what sort of things to look for.
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- in areas that should be uniform.
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- weather striping and door casings.
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- n do this; however, it never hurts during this walkthrough to perform another test.
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- nded? While walkthroughs leading up to this point should help in making sure that the contractors are working with the right colors and the right materials, mistakes do happen. If the wall that was supposed to be yellow mysteriously turns blue, this walkthrough allows both buyer and builder time to fix it.
Often the builder or the builder’s superintendent will accompany the buyer during the walkthrough, putting together a “punch list” of items that need to be repaired before the final walkthrough. If the builder or superintendent does not accompany, the buyer or the buyer’s representative can create the punch list.
The Residential Resale Walkthrough
Purchasers of a resale home have to remember that they are buying a home that has been lived in. The level of perfection that a buyer can insist to in a new construction home cannot be asked of a residential resale seller. Having a home inspection, whether the home is new or a resale home, is the best way to discover structural or safety damages.
In regards to cosmetic things, buyers need to inspect the home carefully before time of offer. Then, if there is a cosmetic repair that the buyer insists upon (or he or she will not by the house), that repair can to be brought to light within the offer. In most states, buyers cannot walk away from a contract due to cosmetic issues that were present and visible at time of offer.
Buyers often attend final walkthroughs either on the day of closing or the evening before. So what should buyers look for when they go through the final walk though? The residential resale seller does have responsibilities to the buyer to have everything in working order, broom cleaned, and in the same condition that it was in at time of offer. Buyers should be sure to check the following:
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- s in carpet, or non-functioning appliances that were not that way at time of offer.
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- were supposed to remain. Buyers need to check curtain rods and hardware, any personal property that was agreed upon, and even light fixtures.
