Have YOU experienced Closing Day Woes? Buyers are sometimes surprised to find something wrong with their new home when they do their final walk-through before closing day. It’s important to remember that there is a solution to everything and it’s always a good idea to be prepared!
Mark Weisleder, a well known Real Estate Lawyer, Author and Public Speaker, writes about 5 examples of what can go wrong on his website, www.markweisleder.com, and I’d like to share them with you.
Missing Trees: What do you do if you fell in love with all the large, mature trees in the back yard only to discover, one day before closing, that they had been trimmed down to almost nothing? One solution might be to hire a landscaper to replace them with tall, mature trees and request that the Seller cover the cost.
Skunks/racoons under the front porch: One day before closing you and your family visit the home and discover a family of skunks or racoons living under the front porch. Your lawyer can help you negotiate this but one solution could be to have the Seller pay for a pest removal company to eliminate the problem.
Broken furnace/air conditioner: It’s a good idea to make sure your Purchase Agreement states that appliances, furnaces, water softeners etc are all in good working order on closing day. If you discover a problem then alert your lawyer, get an estimate for the cost to fix the problem, and then have the Seller compensate you accordingly.
An outstanding work permit: Has the home been renovated in some way? Did you request building/work permits during the Purchase Agreement negotiations? It’s always easier to deal with this before closing to avoid inheriting headaches.
Locked out: The deal has closed, the Buyer is handed one key to the front door and the Seller left the remaining keys on the kitchen table. What do you do if that key doesn’t work, or if you need a second key for the deadbolt that has been locked? Check with your lawyer, but you may need to simply call a locksmith, get into the house and send the bill to the Seller.
Remember, there’s a solution to every possible problem that might arise on or just before closing. Your lawyer is the best person to help you come up with the best way to deal with these, but your Real Estate Sales Rep can do a lot to help avoid some of those ahead of time.
We’d love to hear your comments or feedback. You can always reach John on his cell at 705-727-6111 or by email at firstname.lastname@example.org, and you can always reach Christie on her cell at 705-220-1152 or by email at email@example.com.