Closing/Escrow/Settlement > Walk-Through pt.2
It’s the day that you close on the sale of your home, and the buyers are a little cranky. During the walk-through inspection, your dependable old dishwasher stopped midway through its cycle, and the powder room toilet flunked its flush. These situations may cause some anxiety for the buyers and sellers, but such problems are quite common and usually easy to resolve.
Most purchase agreements require that the major mechanical systems and the appliances being conveyed are in working order at the time of the closing. Defects are often discovered during the structural inspection, allowing the sellers have plenty of time to have the repairs made. Occasionally there are last-minute breakdowns or defects that are not spotted until the walk-through inspection. In that case, an agreement can be made with the sellers at the closing to escrow funds for the repair or replacement of the items in question.