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Updated almost 11 years ago,

Account Closed
  • Manasquan, NJ
23
Votes |
88
Posts

LESSON ALERT: Why you do a Walk Through Before Closing...

Account Closed
  • Manasquan, NJ
Posted

walk thru just prior to closing. Even if you have to get another trusted person to do it! My very good friend does a ton of out of state investing. He purchased a Brown Stone (Very expensive townhouse like structure in a well to do area). He is smart enough not to use the listing agent to do the walk thru so he finds& hires a contractor to do it and take pics of anything that seems out of sorts. Well it paid off big for him. Just prior to closing he was going through his paperwork and realized he had no pics from closing walk through. Agent said everything is OK she walked through yesterday and everything was cleaned out. It was BUT it rained the night before and an OIL DELIVERY took place that morning. Only problem.. the oil tank was removed as per negotiated by the then owner. 500 gallons of oil into basement into sump pump in yard then sewer... Luckily he had a contractor stop bye to take some pics and he found/smelled the issue as soon as he walked in house... needless to say deal fell through and seller had to reimburse my friend for the fees he incurred during the purchase process. I saw the pics. If he had not done the walk thru he could have been on the hook as the seller was from out of the country.

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