Many scenarios might result in conflict between a seller listing real estate for sale and a buyer looking for a home. Often, those disputes relate to the condition of the property. Buyers sometimes have to take action to assert themselves when sellers misrepresent the property initially.
Sometimes, inspections turn up surprising defects that buyers didn’t anticipate and sellers did not disclose. Other times, buyers performing the final walk-through at the property before the document signing notice new issues with the property.
Perhaps there are holes in the wall, broken windows or damaged door frames. Maybe the seller removed fixtures from the property or dug up plants from the yard without indicating any intent to do so in the listing documents. How can buyers navigate a scenario in which a final walk-through exposes new damage to the property that alters its value?
Damage can derail a closing
Typically, buyers performing a final walk-through expect the property to be in the same condition it was in during their inspection or viewing of the property previously. However, sellers can potentially damage the property when they live there between accepting the offer from the buyer and closing.
Damage created during a move is somewhat common. In cases involving move-related damage, the buyers may be able to make a straightforward insurance claim. If the sellers used a professional moving service, there is likely a liability insurance policy that can help offset the cost of repairing damage to the walls, doorways or windows caused by moving mishaps.
In situations where the sellers caused the damage or removed items that should have stayed with the home, buyers may need to ask for compensation or for the seller to correct the issue. Last-minute negotiations may be necessary.
Buyers may need to ask the sellers to make repairs or return certain items. In cases involving costly damage or the removal of valuable items from the property, buyers may even want to consider canceling the closing over the change in property condition caused by the seller’s conduct.
Being ready to address a real estate transaction dispute can help aspiring buyers protect their interests. Documenting property damage and reviewing closing paperwork can help buyers choose the right response to surprise property issues discovered during a final walk-through.