Buyer’s Walk-Through

I’ve only had one cavity in my 55 years on planet earth. You’d think my dentist, Dr. Shelby Trail, would give me a plaque (not the sticky form of bacteria on your teeth) for such a great achievement.  Instead, there is ominous doom and gloom. See, I’m an ice-chewer.

It’s a terrible habit and one that I’ve never been able to stop. The worry is eventually my teeth could crack. There is even a name for this disease, called Pagophagia.  I only recently started reading up on Pagophagia and realized that I have this disorder. It could be anything from an iron deficiency to anxiety to stress. It also drives my wife insanely nuts. She is trying to watch a nice show together and she starts hearing CHOMP CHOMP CHOMP.  So, between Veronica and Dr. Trail, my anxiety is getting worse which will make me chew even more ice according to Pagophagia WEB MD.

Fortunately, last week our garage refrigerator went on the fritz. Ice started building up on the bottom and then water was all over the place. A mess! I say fortunately because it became an opportunity to help cure my pagophagia. The GE Profile Opal 2.0 Nugget Ice Maker is my dream ice machine. William Sonoma sells it. The saleslady gave a demonstration. Every 30 minutes the wet ice water is recycled and stays wet which makes it chewable and good for my teeth. Plus, it’s quiet ice which will make my wife happy. Nugget Ice, aka pebble, sonic or chewable ice is now the craze in refrigerators. Bosch is marketing Ice Bites. LG even has 4 different types of ice with the slogan, “For the family that loves ice”.

Most people though aren’t so happy when their refrigerator breaks and the worst time that can happen for a seller of a home is on the walk through.  A year ago, I did a story on what a Seller should do in a walk through but how about a Buyer?  Here is how to avoid a bad walk through and what you should do if disaster strikes…

The walk through should be an uneventful experience but sometimes not.

1. The best thing you can do is coordinate everything in advance. If you requested repairs, demand paperwork is done before the walk through, so you aren’t doing a reinspection at walk through. Smooth walk throughs happen when the agents and clients are proactive.

2. Have a detailed written inventory that is signed off on at time of contract. As a buyer you want to make sure everything that is supposed to be there, is there. Look to make sure appliances like the garage refrigerator if agreed to stay hasn’t fled the garage. (Sadly, this happens more than you’d think).  Same with chandeliers and light fixtures.

3. Visual walls and outdoor inspection. Pay the most attention to the garage. A few years back, the movers backed into the garage and caused damage on the move out. Sloppy movers can cause scuff cosmetic marks and other damages.

4. AC and water. Visually look for water stains and make sure the home is cooling properly. If you are lucky it will have just rained which is when leaks show up.

5. Your real estate agent must have solid real estate attorney relationships. That means having a lawyer on call for weekends and after hours as time is of the essence. Refusing to close might be the worst thing you could do as escrow monies can be at risk for not performing.

I had one deal collapse the day of closing because a pluming flood occurred from the upstairs of a Frenchman’s Reserve townhouse. Water just flowing from upstairs. The Seller offered to pay for everything but the amount to fix everything was more than 1.5% of the purchase price which gave an out for the Buyer.  See Section M on risk of Loss. https://jeftestechofinepropertiescom.kinsta.cloud/buying/contracts/.  If restoration can’t be completed in time, then 125% of the estimated cost of repairs is left in escrow and the parties have to close.  Although everyone gets crazed and ends up yelling at their Realtor for help.  Which then causes all sorts of anxiety for the Realtor.  Now you know why I chew ice!

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Jeff Lichtenstein, originally from Chicago, got his start in the home furnishings textile business where he traveled over 35 weeks a year selling fabrics. After the family business was sold, Jeff moved to Florida and became a real estate agent. Today he is the owner and broker of Echo Fine Properties, a luxury residential brokerage voted best brokerage of the year. Jeff manages a non-traditional model of real estate that mimics a traditional business model. Echo has 80 agents, an average of one million dollars per transaction and over 500 million in annual sales. Between traveling for work and annual family trips to national parks with his wife and 2 now adult children, Jeff has visited 49 states. He is also one of the few Chicago White Sox fans you’ll ever meet.  Some publications he has been quoted in.

Author of business & leadership book How Making a Sandwich Can Change Your World –  The Amazing Success of the PB&J Strategy – Available to Buy Now!

Feel free to ask him a question directly at jeff@EchoFineProperties.com including a complementary  valuation of your home.