Wednesday, December 4, 2013

Following Up On The Request For Repairs

Last week I blogged a bit about the Request for Repairs in a Real Estate transaction. Yep, today I have to follow up with the VP, Verification of Property Condition.

Nearing the end of your escrow, generally around the same day the buyer is signing their home loan docs, a final walk through is done at the property being sold.

Buyer(s) and their agent go to home to see it one last time before escrow closes. Unless changed, contractually it is within the last 5 days of the escrow period.

There are two most important reasons to do this walk through. Verify that the property is in the same condition as when the offer was written. Confirm that any agreed upon repairs have been completed.

Most of the time everything is done....most of the time everything is as it should be. However, once in a while, really maybe once a year, something is a bit amiss.

Maybe a curtain rod has been removed. Possibly the refrigerator that was to stay has been packed onto the sellers moving truck. Maybe not all the repairs agreed to have been completed.

Oh goodness, what to do! Not a biggie. Between the listing and selling agent we work it all out. I've seen some agents just freak out and make a 'mountain out of a molehill' about something amiss during the walk through. Soooo not necessary.

Now, I'm not going to kid you, being a Realtor is very stressful and I can get a bit attitudish (I know not a real word) once in a while. However, the VP is generally easily corrected and usually just a misunderstanding between the parties. One more walk-through may be necessary, so a little bit more time? It's worth the effort and worth the time.

Questions? I'm here to answer them for you! ~

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