The final walk through you close to closing and now you’re ready to go, so we’re going to discuss that here with luxury real estate agent and broker Shana Acquisto. We’re going to tell you why this is so important. The final walkthrough. We’re going to tell you how it reduces liability for the broker and for yourself as the agent. Right. And we’re going to tell you where you will find all the required forms and we’re going to show you some of them. We’re going to share the screen and let you see it.
The final walk through
Yes. So first off, does anyone know the song, The Final Countdown? OK, because every time I see this final launch through that song plays in my mind, like the final walk through.
I want to sing it for us. No, no, nobody.
All right. Very good, Shana. All right. Maybe Hannah could sing it for us.
I think we could both sing it. OK, that would be great. OK, so this is a document that when you have a buyer and you do your final walkthrough, which I know we all do, if not, we should. That is. That is a requirement that we have that you must have a final walkthrough with your client.
So we have a couple of things. A lot of times recently we’re seeing that the buyers are out of state, so they’re not here and they’re not present to do the final walkthrough. So if that is the case and they ask you to do the final walkthrough, then we have a document for that, a hold harmless document that we had our attorneys draw up. And what it says is just that I did not visit the property. I didn’t see it in person. I relied on my agent. But I’m not going to hold them responsible if, you know, if we get there and something happens or they didn’t point something out. So we have a document for that. The other one and these are all found in your template in the forms.
They’re both they’re perfect. And we’re going to take both these links and Chat them for you. Producer Omkar is amazing like that. So he’s going to give you both of those links.
So the next one is your buyers walk through an acceptance form. We want to have this. From your client before closing, before closing, please, we need this uploaded given to Stacey before closing. So what this says is we’re doing the final walkthrough, the date we’re doing it. And did they have an inspection or not? So if you look here on the buyer’s final walk through inspections, the property was inspected or the property wasn’t inspected. So we’re going to note that on this form before closing walkthrough.
So Buyer has walked the property. You’re going to put the date that they do it. Number two is not going to well, I guess it can apply if you’re buyer says I’m not walking this property, I’m just spending five hundred thousand on property, but I’m not walking in a final walkthrough. That’s fine. No, there. And number two, that you as the agent walk through that property, you walk through it and just say buyer chose not to. And, you know, you are going to walk through it and just make sure that there’s not a leak or something going on in there.
There’s a lot of things that could happen, whether it’s freezing and you have a problem with that, whether it’s like storm season, you have something going on. There could be a water leak that just comes up when people move out. There’s a lot of things that happen when they move out. So if you’re just talking only about leaks, right, people move and the dish, all the appliances, when they disconnect anything, the washer and dryer, there’s all these shutoffs. There’s a lot of potential for problems.
Yes. And, you know, the buyer has the right to have another you know, if they had an inspection done and have the inspector come out and reinspect to just, you know, see if the seller made repairs. A lot of times they’re not making repairs right now, but it is nice to come in and have somebody look at it and make sure that everything’s good to go OK for their own personal knowledge. But just be aware, we need this form, guys. We need this filled out.
There should be a final walk through either virtual or in person and protect our clients and yourself. Because if you didn’t provide that and something happens, they move in and you don’t have this form, they could come back and say, well, I didn’t know I could go back in. Before closing, I didn’t know I should walk it. I expected you to agent, what are you doing for me? So you see where this could go. So this is just another protection for you and your client to make sure that the house is standing before they close the
Final walk through needs to be done, period. U.S. agent need to see that property because you’re buying something. Yeah, right. And then it’s up to the client whether they want to see it or not or accept it, kind of like you say, or whatever it is. We’re going through different times right now. But that doesn’t mean that we we don’t look at the property used and, you know, a lot of talk has been do you fill this out if you have a new construction? Why not just if you’re going to a final walkthrough with your client, even if it’s a new construction, just to have record that you guys did this together, fill it out. But in the file, it’s not going to hurt.
And that’s often the time that you’d pick up like maybe keys or you don’t whatever those things are, there’s kind of they should be arranged in advance. Very good. Is there anything else you want to go over with that we won’t know for why it’s important reduce liability and where you find the forms in your zip forms perfect or buyer the buyer purchase transaction.