ADVERTISEMENT

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®



  CLOSING COUNTDOWN
 		  

Keep the Transaction on Track
  Advanced Tip
  Advanced Tip
  Advanced Tip
  Broker Tip

Getting to Close
  Advanced Tip

Mortgage Basics
  Advanced Tip
  Advanced Tip
  Advanced Tip

Inspections and Repairs
  Broker tip

Closing Countdown
  Advanced Tip

Going for the Close
  Advanced Tip
  Advanced Tip
  Advanced Tip

Commission Disbursements
  Broker Tips
  Broker Tip

Post-Closing Strategies

Quiz: Contract to Close

Bright Ideas: Contract to Close

Code of Ethics: Contract to Close

More Resources: Contract to Close

  A Walk-Through Checklist

The sales contract usually includes a clause that allows buyers to inspect the property 24 hours before closing to be sure everything works and that sellers have adhered to conditions outlined in the sales contract. To ensure that nothing is missed at this high-pressure time, develop an easy form for their use.

TIP: Leave some blank space at the bottom of the form to write in any special repairs requested in the contract.
 
 
Item
Condition OK
Comments
Exterior    
Doorbell  
Windows     
Decks    
Storm windows, screens    
Doors    
Garage door openers    
Walks, driveway    
  
Bathrooms    
Sinks    
Toilets    
Bathtubs, showers    
Fixtures    
  
Basement/laundry room    
Washer, dryer    
Water softener    
HVAC system    
Water pressure    
  
Kitchen    
Stove or cooktop, over    
Refrigerator    
Fan    
Microwave oven    
Garbage disposal, compactor    
  
Safety Systems    
Smoke, carbon monoxide detectors    
Intercom system    
Alarm system    
Sprinkler system    
  
Other    
Swimming pool, hot tubs, saunas    
TV antennas or satellite system    
Septic system    













































































































 
 
Adapted from Real Estate Checklists and Systems, Kim Daugherty, Gundaker REALTORS® , Maryland Heights, Mo.

TIP: Be sure that items that are supposed to remain with the house—such as draperies or light fixtures—are still in place.

For the Advanced Salesperson:
Five Things People Forget at a Walk Through

The final walk-through is the last chance to see the condition of a house before taking possession. Here are six things not to overlook, say David Rathgeber of Century 21 Laughlin, REALTORS® in McLean, Va., and Tupper Briggs of Tupper Briggs’ Mountain Home Team in Evergreen, Colo.

1. Items identified for repair during the home inspection.

2. Hidden systems, like attic fans and sump pumps.

3. Smoke detectors (test them to be sure they’re working).

4. Exclusions—Be sure sellers haven’t left behind unwanted items at the house. Briggs was recently involved in a sale in which the sellers left an abandoned car in the driveway when they moved out.

5. Inclusions—Be sure items you negotiated to stay—the dining room light fixtures, for instance—remain.

6. Cleaning—Be sure the house is clean. Briggs spells out the definition of clean—wiped counters, empty and wiped cabinets, and so forth—in contracts.

Going for the Close >