Thursday, October 26, 2006

...and walk the walk: Walk-Through Issues

I conducted a final walk-through of a re-sale condo this morning with my clients. They purchased a two bedroom, one bathroom East Lakeview condo... oh and it has parking, a huge deck, large room sizes and great light.

A walk through is conducted to make sure all personal property that is to be transferred with the sale is still there. You know, small stuff like the refrigerator and oven (this time... a Viking range). You also want to make note of any damage to the unit that did not exist before the previous owners moved out. Lastly, we check and make sure all inspection items were corrected or all alterations were made as agreed upon in the attornet rider.

Hopefully, all these things are taken care of. With a few phone calls, and maybe some elbow grease, I try and make sure all these things are settled so there are no surprises for my clients. But, sometimes things happen.

Today, for instance, the sellers had barely strated moving their possessions out as of 9:30AM. The closing was scheduled for 10:30AM. We knew they were moving today, but hoped they would have big stuff, such as couches, chairs and buffet tables out by the time we did the walk through. Not the case.

This time, the solution was simple... we requested our attorney hold back $500.00 from the sellers in case of any damage to the unit. This was agreed and the closing went great. Sometimes it's not so easy. Just be sure you have a Realtor and a team of professionals versed in the details of a real estate transaction. They will be proactive to prevent incidences before they happen. Even when things are not perfect, they don't have to be a nightmare.

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