4 tips on doing a final walk through on a Boston high rise condo

During the real estate crash that came to a calamitous end in 2008, the final walk-through step of a real estate transaction was often skipped for various reasons. In some cases, the Boston high rise condo buyers were in a rush to take possession because they felt letting a single day go by would be akin to missing out on their dream high rise condo. In the current market of buyers should not skip the final walk-through. Current prices are considerably higher than they were years ago, and the pressure from sellers to skip the home innspection doesn’t apply to the current Boston luxury condo market.

Walk-Through Contract Stipulation

A final walk-through is not a contingency item on a contract. However, it should be a clause that directs sellers to keep their property in the condition it was when the purchase agreement was executed. If the dishwasher stops working prior to closing, the seller should repair it and provide receipts of the work performed. As a contract clause, it can be negotiated to a certain degree. For example, the seller can agree to deliver a condo in a reasonably clean condition, so it should not look like a New Year’s Eve party was thrown prior to closing.

Walking Through with Real Estate Agents

In a sellers’ market, this is a must. Boston downtown high rise condo buyers should not have to deal with noncompliant sellers just because market conditions favor them. When a final walk-through inspection does not conform to the agreed terms, the agents representing buyers and sellers will be tasked with finding a remedy prior to closing.

Checking the Basics

Bosotn hig rise condo agent usually provide buyers with checklists to use during a final inspection. Aside from checking that personal property and debris have been removed, the following items must also be checked:

Light fixtures
Door hardware and locks
Faucets, toilets, and sinks
Appliances
HVAC system
Wall, ceiling, floor, and counter surfaces
Railings
Windows

New Construction and Remodeled Properties

If a builder or contractor is tasked with delivering the high rise condo, buyers may run into a punch list situation, which is what construction or remodeling supervisors do when they inspect the work performed. For the most part, punch lists consist of minor or cosmetic adjustments that need to be done prior to delivery. Contractors tend to move very quickly to get their punch lists down to zero items, and thus a second walk-through may be required.

If you’re about to purchase a high rise luxury condo in the Seaport District or another neighborhood in downtown, make sure to have a trusted agent by your side when doing your final walk-through.