The Buyers Walk-Through & Acceptance Form is a simple one page form, however it’s very important to have completed and signed by all parties & the entire transaction for a complete successful closing. This form, I highly recommend to have singed immediately after the final walk through and or at the closing table.
Section 1 is the first notice to the buyer which states that the seller will be turning the property over to the buyer in the condition in which they’ve agreed upon, in the contract less any normal wear and tear. That the property was inspected and or if the buyer elected to not inspect the property. This also advises that the properties condition should be verified as noted in the contract. If you are asking yourself “where is this stated at”? If you look at the original contract in Paragraph 7.D.(2) and or if done later in the amendment which is often referred to as a repair amendment, which occurs as negotiations during the option period.
Part B — “Before Closing Walk-Through” is a simple check box for either (1) or (2) which is stating the buyer has walked through and reviewed the property condition before closing on a given day, or if they elected to to have a walk-through done. If for some reason there is an issue with the property and there is something that isn’t right, you should not sign this form and discuss your options with your agent. If there were repairs that were agreed upon that weren’t done, there is an issue and it needs to be resolved before you head to closing.
That’s all there is to the Buyer’s Walk-Through and Acceptance Form. This form is very important and holds great Power for protection to the home buyer & buyers agent. By notifying and reminding the buyer that they should inspect the property and getting it in writing as to whether they did or not, this form helps provide some protections should issues arise after closing from minor items to a broken lock to a major water leak, there are many items that could come up.
Again, we always encourage a Home Inspection as well as urge everyone to do a Buyers Final Walk through at all times, if there are any additional questions you have in regards to this please contact us, were always here to help & educate as much as possible.
DFW Elite Living Team — Powered by Vivo
Powered by WPeMatico