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Walking through a property when the person may purchase the house may provide various rights to the individual touring the building with a real estate agent or another involved party. Knowing what rights exist could provide the person with the knowledge of when to pursue a legal case for injury or understand how to sue the seller for certain defects that may exist.
The final walkthrough is necessary for the buyer for a variety of reasons. This generally occurs after the person seeking to buy the house has already gone through it once with a real estate agent prior to the paperwork. The individual will need to assess the damage, defects and repairs that exist since the last time he or she surveyed the house. Some of these processes are formal with the signing of additional documents while others are informal and only a walkthrough occurs with an assessment of the property before the final closing procedure begins.
The Goal of the Final Walkthrough
Once a buyer is looking to purchase the property, he or she will set up various items for the seller to take care of such as the maintenance of certain issues and repair of others. During the final walkthrough, the buyer’s goal is to ensure these matters are no longer an issue. If the walkthrough is formal, the buyer will sign paperwork that he or she did walk through the property and everything is the way he or she agreed to with the seller. Defect-free and without the problems that could lead to further issues later, the house’s final walkthrough provides the details the buyer needs to support his or her purchase.
The Final Walkthrough Explained
When finalizing the sale, the buyer does have certain rights. However, he or she must understand what the final walkthrough provides. He or she should already have performed the inspection and assessment of the property. Having the contract with the buyer during the walkthrough may provide a guide on what to look for and what to reference. If it is possible, the individual should perform this last step with the seller. He or she could explain anything amiss or that requires additional information. The final walkthrough may also ensure that anything left running such as water or electricity is off to prevent possible water damage or fires before the buyer is able to move into the home.
Walkthrough Rights
The rights that exist with the buyer may increase or decrease depending on the stage of the process. If it is the final walkthrough, all other rights are generally exhausted such as getting defects repaired or replacing faulty appliances. Problems with the land are taken care of long before the final walkthrough, and the buyer will only usually see the seller during the last stage before the property transfers to him or her. The right to repairs and maintenance exist in the initial assessment of the building. It is important to raise all questions and inquiries before proceeding through the sale.
The Checklist
When a person is going through a walkthrough of the house, he or she should have a checklist to assess certain items and issues. His or her rights remain focused on what he or she discovers and is able to repair or replace with the seller during walkthroughs. The checklist should contain the exterior of the house, the interior of the house and any basements or attics attached to the building. The outside is important for weather issues that could harm the property and water damage. Inside the house, the buyer may need to ensure that there are no leaks with gas, electrical malfunctions and water leaking.
The person buying the house will need to turn off all lights, check the appliances that come with the property and ensure every heating vent and air-conditioning unit is off. Garage doors need checking, and the buyer should check the plumbing. He or she should flush the toilets, check the faucet and walk through the area seeking any possible leaks. The doors and windows need assessment as well. A visual and physical walkthrough are both important.
Walkthrough Legal Support
Once the buyer is in the walkthrough stage, he or she may need to hire a real estate lawyer to protect his or her investment. In the event of an incident, he or she may need the lawyer to pursue a claim. If there are defects or other complications, the buyer will need the lawyer’s support.
Provided by HG.org