Yesterday a couple of buyers and I did a walkthrough of the newly rehabbed Edgewater condo they are buying. A walkthrough is an opportunity for buyers to verify that any inspection issues were resolved and make sure the rest of the home is still in acceptable condition.
The buyers found several inspection issues that the seller had not resolved. A window still didn’t stay open. A knob wasn’t attached to a drawer. The hardwood floors weren’t cleaned. A light was missing in a closet. At the closing on Tuesday the real estate attorneys will need to negotiate a resolution that is acceptable to both sides. Most likely, some of the sale proceeds will be withheld from the seller until the inspection issues are resolved.
Don’t assume a home will be ok before you close on a sale. Verify it yourself as close to the closing as possible.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
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