Do you have a pending closing, or contract coming up, if you have a closing that is coming up and whether it’s vacant or occupied, you need to check in and make sure that there’s not any damage that has occurred at the property. And, you know, just do your due diligence. You’re going to want to do a final walkthrough, maybe get in an inspector to come out and do an inspection prior to closing.

That would be a really good tip, because when you buy it, you buy everything that. You know, you’re buying everything, all the baggage that comes with that house, so I would make sure that if you do have an upcoming closing, that you make sure that you protect your client. -Do you Have a Pending Closing?-

Do you Have a Pending Closing?

And the few things that I would look at in particular, it would be going around and turning on the hose bibs and ensuring that they work. I might have the seller there. So if you do start a water leak, maybe you bring that shot off key with you so you can shut that off, know where it is, clean it off. It’s maybe not the most fun thing to go find once you have a problem.

So knowing where it is and knowing how to shut it on and off in loosening it for the first time. So when it’s sitting there and it’s kind of frozen, it takes like a little bit of effort. So if you do it the first time, you just like, oh, OK, cool.

Now it opens and closes and I know how to do it. I have shown you previously how to see if the water is on or off. Remember that if the if it’s facing the same way as water, it’s on. If it’s facing perpendicular then it’s off. So it’s really easy to tell on any of those balls. But that’s the same exact thing with the water. When you go outside, you’ll see it’ll be running this way and you just simply turn it.

So ensure that maybe you know how to do that first and you can find it right. Then you can test some of the things, specifically the hose, bibs, anything exterior and ensure that those are all working and sinks, you know, outdoor kitchens, all of it. -Do you Have a Pending Closing?-

So then if you start it right, then you could run back outside and be like, oh, let me turn that off and go in the attic and check the you know, if there’s water heaters in the attic, then you need to check those as well. So just take some extra time, do your diligence and protect your client.

Another thing that I heard about insurance, you’re going to want to find out if any insurance claims have been filed and if they’re pending or end up in the air and haven’t been closed out prior to closing. So I know that when your buyer goes to get insurance, then it’s definitely going to come up on on what they call a clue report. So we’re going to be able to find that out.

But the earlier you find that out, you know, the less likely you are to experience a delay in closing. So you want to be careful. I did hear an interesting thing yesterday about insurance. So we’ve heard that insurance is not. Covering all of the all of the claims, so from my understanding, what I heard yesterday is if this if the damage was caused by a storm that has a name. OK, so tornadoes don’t typically have a name, but like hurricane, hurricanes have names. They have named this storm winter storm.

So because it has a name, it changes your deductible amounts with your with your from your provider. So and it does become covered.

It depends, it’s kind of like iffy, but your coverage varies and changes based on if it’s if the storm has a name or not, that’s the determining factor, because I think when we were talking yesterday that when it has a a name, then maybe you might get, you know. Federal money to maybe offset some of those damages and if you’re getting money there, then you don’t want to get money from insurance.

And it’s just kind of I don’t know. It’s interesting. Maybe we’ll have on an insurance expert once this all kind of flushes out. So, Kyle, call, we’ll get that scheduled and we’ll put you on TNT here in the very near future. If anyone else has any details on that  they would like to share with us, please check in or give us a call after we’re done. Maybe an email. I like that. – Do you Have a Pending Closing?-

Even I think we’re going to be very familiar with this once this is all said and done, because there’s going to be a lot of damage that has occurred in some plumbing.

Some is going to there is going to be a lot of water related damage. And it could even be that there’s ice in its back up because the ice tends to back up from the gutters up under the roof. And then you kind of have a problem from the shingles because it backs upwards.

And that’s not how the shingles are designed to protect. So and I think there’s something with that drain at the edge of it, how they install that little edge, the drip edge that like it’s always a problem because it’s never done right and it’s on all the inspections. And they’re like, no, that’s not a problem like that.
Yes. So maybe we’ll take a look at that in a future episode as well.
=Do you Have a Pending Closing?=

Acquisto Real Estate

Episode Recorded Live on YouTube 2.19.21

This & That

This & That

View all posts