The market is booming and customers are pouring into Central Texas from all over the country looking for the perfect home or investment property in this ever appreciating market. Due to their distance, many closings are becoming mail-outs, leaving agents to figure out the best practices for final walk-throughs.
Best Practices to Digitize the Final
• Always discuss with your Broker their recommended best practices for compliance.
• Set proper expectations early in the process. It is the best practice for the buyer to physically walk the property themself and then you can review with them the Buyer’s Walk-Through and Acceptance Form (TXR 1925).
• The best person to do a final walk-through in the buyer’s absence is their inspector. A final inspection prior to closing and a buyer-inspector phone call to discuss the report, is a good way to be sure the buyer has the confidence they need to close the property.
• You must get permission from the seller to record anything in their property. Have your buyer, in writing, request permission from the seller (not just the listing agent) to digitally record the walk-through.
• Remember that so much can be missed in a digital walk-through, so be careful to not make assurances about the repair of property. Again, an inspection would be best practice, if there is concern.
• Keep all communication between parties in writing for your records.
When sending a digital recording of the property walk-through to a buyer, consider the method of delivery. Do not post the recording publicly, nor should your buyers post the recording. Any public posting of the walk-through could be seen as advertising and may violate the code of ethics.
There are a lot of technology options that allow for recording a meeting or walk-through that is in progress. These options would give you more peace of mind and would allow the buyer to review the recording again should they wish. Again, you must have written permission from the seller to record the property, even if the property is vacant. You may consider recording options over a simple video call.
The digital world has offered many opportunities for us to connect our consumers to their transactions. We understand that so many of our clients need the ability to digitally connect as circumstances might have kept them at a distance. So many REALTORS® are faced with absent buyers when it comes time for a final walk-through. By building a broker-approved, best practice digital system and properly setting expectations, you can help your client reach the closing table with confidence.