THE HONEST BROKER: EXAMINE THE PROPERTY BEFORE RENTING OR CLOSING
Prior to leasing or closing on the sale of a home, it is very important to conduct a walk-through. The purpose is to evaluate the condition of the home prior to signing a lease or making the purchase of a home.
At times, leasing agents and offices have a model unit in a building that is shown to the prospective renter. These models tend to be upgraded, clean, freshly painted, have newer appliances and, in some circumstances, will not reflect the condition of the actual unit that is available to be rented.
It is imperative that you ask to see the exact unit that you will be renting after viewing the model and observe for any differences.
If you are told that you cannot see the exact unit, then there should be some hesitation to sign a lease. This is a red flag and I would proceed with caution. There are circumstances that, time and time again, occur after signing a lease; the renter will find well-worn furniture, the need for extermination or cleaning of carpets, or even perhaps that the appliances are unacceptable.
It is better to address and correct any issues with the unit prior to moving in. Sometimes, if there is need for correction or maintenance, the leasing agent will state that this “will occur after moving in”. This is a ploy to encourage the client into signing and the repairs/maintenance or quality of the unit will not be a priority for them after the move-in date. Proceed wisely!!!
Walk-Through for Closing:
This is usually done on the day of closing. The reason being is multi-fold. The home was seen or shown when trying to sell it. It was most likely “staged”, clean and in its best condition. The buyer should verify the condition of the home prior to taking possession.
What is the buyer observing for? The contract states that the owner must maintain the home in the same condition as when the contract was entered. There should be no surprises; water damage, wall damage, furniture left (the house should be left empty in “broom swept condition”).
The appliances should not be switched out for lower quality appliances. The light fixtures, unless stated in the contract, should remain. In essence, the buyer is checking for unexpected damage or changes that were not present at the time of signing the contract. The closing can be delayed or even cancelled without penalty without remedy of the situation.
Diane Lott, Broker
Owner: Paradise Found Realty
Paradise Found Realty, Inc. of Palm City
Your concierge real estate company. Call for your home visit today: 954-294-5060
Call to schedule a visit today: 954-294-5060
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