CONDUCT YOUR FINAL WALK-THROUGH
The purpose of the walk-through is:
- To be sure that all included appliances, HVAC and plumbing, are in working order. Make sure to test all appliances, and run water from all water sources to check for leaks.
- To ensure that the property is free and clear of debris, broom clean, and in substantially the same condition as date of contract.
- To ensure that any contractual obligations have been met.
Paying for Repairs
Since lenders normally forbid the creation of an escrow fund to allow for repairs not made prior to settlement, if may be possible—with the mutual agreement of the seller and the buyer—for the seller to credit to the buyer an amount that allows for the buyers to make the repairs themselves at a later date. This should be arranged prior to settlement taking place.