Issues at Closing

When Are You Done With The Transaction.

In a real estate transaction on day the property is transfer is referred to as the closing.  This is a date where everyone signs the documents and the house is officially transferred over. A closing date can be hectic for some, as usually people are moving, packing, cleaning, and setting up for their new home. However, just because you are at the closing table, does not mean the transaction is guaranteed to go through. There are often last-minute walk-through issues or errors which can arise without warning and threaten the deal.  It is in these situations where you need a skilled real estate attorney representing you who can negotiate on your behalf.

What is a Walk-through?

Before a buyer is able to sign the documentation, they are entitled to a last walk-through of the house.  This is done often with the Buyer’s real estate agent. This is the time Buyer looks through the property to confirm it is still in the condition it was in when they first decided to purchase the house. Additionally, this is the time for the Buyer to check and make sure any pending home inspection items are fixed to the Buyer’s satisfaction.

What if there is an issue during my walk through?

In a perfect transaction, there would be no issues during the walk-through, however this is not always the case. There could be imperfections with the house which the Buyer wants remedied before the closing can take place.  For example, the house may not be cleaned, the Seller may have left items in the home which the Buyer did not want, or unexpected power outages or storms could damage the property. If the Buyer wants to move forward with the transaction, there may need to be some last-minute negotiations or dealings before the deal can fully commence. It is in these situations you need an experience attorney to represent you and your interests. Owning a home can be up to a thirty (30) year commitment.  It is important you feel comfortable in your home from the moment you purchase it.

Conversely, as a Seller, you also need an attorney to protect you as well. If a Buyer has an issue during the walk-through, it may not be in your best interest to remedy the situation. When walk-through issues arise, it can become difficult to navigate, having an advocate on your side can relieve your stress and get you the best results.

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