Buyer's Final
Inspection
The purpose of the walk-through
inspection prior to settlement is to determine if conditions in the contract
are satisfied. The time for the buyer to inspect and note defects for correction
by the seller is during the contract negotiation and prior to signing the
sales agreement. Repair or replacement items should be noted in the contract.
Most resale homes are sold in "as is" condition, however, mechanical, electrical
and plumbing items should be in working condition.
It is up to the buyer to perform the
inspection, not the seller who may or may not be present. The buyer should
be accompanied by the selling broker and/or the listing broker. The home
seller should be sure utilities are on so that equipment can be operated.
Room by Room
Expect the buyer to try all lights
and switches; turn all faucets on and off, run shower, flush toilets; turn
on furnace and CAC (in off-season buyer may hire professional to certify
proper function); test all stove burners, oven at bake and broil; run some
ice cubes through disposal to test blades; run dishwasher, washer, and
dryer through complete cycle; and open and close all windows and doors.
In short, to try everything, even keys and fireplace flue.
All deficiencies should be noted. If
seller does not correct problems prior to settlement, funds may be withheld
by settlement attorney for repairs. The selling broker will coordinate
with listing broker and seller to make repairs before settlement, if possible,
Upon receipt of bills and notification that repairs are complete, attorney
will release balance of funds to seller, if money is escrowed for needed
repairs.
Next - Settlement