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What's a Walk-Through?
Buyers Answers
The sales contract should allow for a pre-settlement walk-through of the home to verify that the condition, fixtures and amenities are unchanged and undamaged from the day the contract was executed. This is not the time to find major problems: that should have happened during the inspection process. The walk-through usually takes place shortly before or on the day of closing. Be sure to look at any requested repairs made after the execution of the contract. If unwanted changes have occurred, or the agreed-upon repair was not made, settlement may be delayed until the problem can be resolved. Options include postponing settlement until the problems can be corrected, or entering into an agreement for the future resolution of the problems, usually by placing funds in an escrow account held by your attorney or settlement agent to cover major repairs or the replacement of fixtures. Once the seller has made the necessary repairs, the escrowed funds will be returned to the seller.
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