Every purchase my clients make, whether a detached home or a condo, I insert a clause for the benefit of my buyers and it generally goes something like this:
"The buyer and his representatives shall have the right to gain access to the property two (2) further times prior to completion. These appointments are to be mutually agreed time by both seller and buyer"
'Completion' meaning closing date. Let's say an offer is presented and accepted May 30, 2014, the closing may be a couple weeks or a couple months later. This 'in between' period is what the above clause refers to.
I insert this clause to allow my clients to take measurements of the home for their furniture or to show family the home they just purchased, however, what I do advise all my clients , regardless the number of visits agreed upon (whether one or three), is to always keep one visit just prior to closing - within a few days. I want us to have a final look at the property, turn on all the appliances, check the plumbing, the electrical, the walls, and the list goes on. The home should be in the same state we purchased it - and 9 out of 10 times it goes without a hitch.
What if you're the 1 out of 10? Well, it depends what the issue is and how it was worded in the purchase and sale agreement. I'll leave all the legalities up to your trusted real estate lawyer but making sure your agent has got you covered in all aspects of the transaction is paramount in avoiding headaches and suprises before and after closing.
You're making the biggest purchase of your life where one word, one sentence, one inital, can cost you tens of thousands of dollars. Work with a realtor who treats it as such.
Monday i'll talk about how to turn a routine buyer's visit into a tea party with lots of parting gifts.