The final walk-through is typically the last step in buying a home and an
exciting one. This is a last look at the home that’s about to become home to
the homebuyers. But occasionally, the buyer is shocked to see that the
home is not in the condition expected. While this can be upsetting, it does
not need to be the end of the process.
Here are 5 steps for homebuyers to
take if faced with a bad final walk-through.
1. Stay Calm – The first step is to stay calm. It’s important to approach the
situation without anger or passion. Not all issues are deal-breakers, and
many can be resolved easily.
2. Document Everything – Take pictures and detailed notes of any issues
encountered. This documentation will be important during conversations
with the sellers and their agents.
3. Communicate Immediately – You and your agent should immediately
reach out to the seller and their agent to discuss the challenges. You
should also reach the escrow company and lender to delay the closing until
the issues are resolved.
4. Negotiate Solutions – Be open to solutions. While time may be limited,
common solutions might include repairs, reduction of sales price, or even a
cash credit at the close.
5. Seek Legal Advice – Depending on the severity of the issues, consider
consulting an attorney. A real estate attorney can offer guidance about how
to proceed and protect your interests.
A challenging final walk-through doesn’t necessarily mean the end of the
deal, but it should be taken seriously as well. Once you transfer title, getting
compensation for a problem becomes far more difficult. Handle the issues
before the close, when all parties are motivated to find solutions.