05.09.08
Why a Walk-through Before Closing Your Colorado Springs Real Estate is so Important.
In Colorado, we “close” to the contract. This means the terms/conditions/deadlines in the contract trump any other ancillary agreements or preferences. In short, anything in writing isn’t worth the paper it’s written on.
To be sure all things are closed to the contract a final “walk-through” is a MUST. The best time to do this is the day of the closing. Call me paranoid, but what if you walk through the day before and the water heater blows that night? You’ve just bought yourself 2000 s.f. of soggy house!
What am I looking for in a walk-through? For one, we want to make sure all inspection items are completed to your (the Buyer’s) satisfaction. Second, we need to be sure the sellers are ready to deliver possession. If they’re not, alternative arrangements need to be made prior to closing. Are they going to be penalized? Will we need to draft a Seller Rent Back Agreement? Should we reschedule the closing? I use a great addendum that outlines the specific condition of the house for conveyance. Finally, the last reason is to check for any unpleasant surprises (like that water heater)!
There are a lot of “what if’s” (things that can go wrong). They can all be prevented and/or addressed by conducting a walk-through.
