Real Estate Glossary



  Final Walk-Through Inspection

Your sales contract should include a clause that allows you to examine the property you want to purchase within the 24 hours before closing.

This walk-through, during which you will be accompanied by the real estate sales professional, is your chance to ensure that the seller has vacated the house and left behind whatever property was agreed upon.

Make sure to check that all lights, appliances, and plumbing fixtures are in working order.

You will also want to make sure that all conditions of the sales contract have been met. If they aren't, or you observe major problems, you have the right to delay the closing until the problems are corrected.

One other option is to make sure money to correct the problems is placed in an escrow account at closing to cover the cost of repairs.

 

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Stephanie Smith, REALTOR,
Westfield, New Jersey Real Estate
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Coldwell Banker Residential Brokerage,
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