Final walk-throughs give buyers the chance to identify any property damages that weren’t present at the time of their inspections or that may have gone unnoticed by their inspectors. When new property damages are identified, investors have the option of walking away from these transactions or sellers can offer suitable forms of compensation. For instance, some sellers agree to pay for improvements or repairs outright, while others offer to assist buyers with a comparable amount of their closing costs. Although the primary goal of a walk-through is always the same, there are key differences in this process for those who are reviewing the pre-purchase condition of condos and lofts in downtown San Diego rather than that of a standard family home.
Identify Where Common Areas Begin and End
If you’re buying a downtown San Diego condo for sale, it’s important to have a clear understanding of where common areas begin and end, particularly within the immediate space that surrounds their units. Newly discovered water damage affecting the condo entrance, patio or deck, may be the responsibility of the condo association depending upon its source of origination and the specific location of the damage. During a walk-through, buyers will gain a better understanding of exactly which features and building areas they alone are responsible for. Conversely, during a final walk-through for a family home, buyers will need to inspect all portions of the property, from boundary line to boundary line.
Take Your Time
Condos and lofts tend to have significantly less space that must be inspected. This, however, does not mean that buyers should feel rushed or pressured to wrap things up quickly. A final walk-through is basically your final opportunity to verify that you’re getting exactly what you’ve paid for. It’s definitely worthwhile to spend time turning appliances on, running the indoor heating and cooling system, flushing toilets, turning light switches on and off, and making sure that all windows and doors open easily and close without issue.
Refer to Your Contract
It is important to show up for your final walk-through with your contract in hand. It isn’t necessary to have the seller present for this process, but it does help. Sellers tend to have the highest level of familiarity with their units and can provide fast answers to questions that you might take far longer to answer on your own. Your contract will help you determine whether or not any fixtures or features have been altered or removed, despite the seller having agreed to leave these things behind.
Once you have inspected your actual unit and determined the exact points at which the space transitions from being your property to communal property, your walk-through is essentially done. If there is an assigned storage or parking area that lies outside of the actual condo or loft, however, these spaces should be diligently inspected as well. Unlike walk-throughs for freestanding single-family homes, condo and loft walk-throughs do not entail final inspections of rooftop areas, landscaped areas, or any other common property features.
If you’re a first-time homebuyer, working with an experienced realtor in downtown San Diego can put your mind at ease when it comes time to sign the contract. For more information, call (619) 649-0368 and speak with a professional and friendly agent today. ')}