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The

J. Rubinstein Team
Your Closing Is Days Away. It’s Time for the Final Walk-Through.

You won’t need your “10,000 steps” sneakers for this exercise. But whether you’re the buyer or seller, you will need to keep your eyes wide open - to make sure the co-op or condo that’s a day or two away from closing is in ship-shape condition - just the way it was during the initial walk-through. Any variables in the condition of an apartment can lead to delays in closing - and last-minute price haggling - and that’s the last thing any seller wants. And it can be a real nuisance for buyers as well.



A checklist for buyers.


Accompanied by your agent, we'll want to make sure that everything is in good working order since you signed the contract. Many buyers will make a detailed video during their very first walk-through – a precise and easy way to “document” the condition of an apartment and compare notes later. Here’s my handy checklist for the final walk-through:


-- Confirm the status of all repairs that were discussed and agreed upon.


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- Make sure that all appliances and fixtures that are included in your apartment purchase are present.


-- Try all major appliances. Test burners on the stove, turn on the oven, run the dishwasher, check any special features of refrigerator, etc. to ensure nothing has changed since the initial home inspection.


-- Open and close all windows, doors and closet doors.


-- Check the walls, ceilings and floors – see if there was any damage during the owner’s move-out process.


-- Turn all lights on and off and test all electric outlets. Bring your phone charger with you to quickly test the outlets.


-- Run all faucets, check for hot water and look under the sink to see if there are any leaks.


-- Turn on heat and air-conditioning to ensure that units are all working properly.


-- If a storage unit is part of the purchase, make sure the owner’s possessions were removed.


Should you observe any condition “glitches” that are more than superficial, this is the time for your agent to negotiate a fair price adjustment – ideally right on the spot! If repairs are deemed to be much more extensive, your agent will negotiate for funds from the seller to be placed in an escrow account.



Tips for sellers.


During the important final walk-through, representation on the sellers behalf is also crucial . It’s essential to be proactive, making all repairs and clean-ups before the arrival of the buyer and agent. Here’s my time-tested to-do list:


-- Your apartment must be empty of furniture and accessories – except for any built-ins that are part of the “as is” agreement.


-- Repair any gouges on floors or walls that may have been caused by moving or the removal of pictures.


-- Make any necessary repairs to appliances.


-- Do not cancel Con Ed or gas services – you need to show that everything is working.


-- Thoroughly clean the apartment and all appliances. It’s worth hiring a professional service – and will lessen the chances of any nit-picking from buyer.


-- Make sure all lightbulbs are working in ceiling fixtures – if you have removed a favorite fixture, an inexpensive replacement will be adequate.


A proven path to a successful walk-through.


While a final walk-through isn’t a walk in the park, the goal is to make it a quick and hassle-free experience for all parties. Over the course of a 19-year career, I’ve guided buyers and sellers through every facet of their real estate transactions – all the way to the final walk-through and closing. It helps to have a proven agent by your side - every step of the way!


What Is a Flip Tax, and Who Has to Pay It?

Flip taxes, also known as transfer fees, help co-op buildings raise money for repairs and improvements, and they must be described in your governing documents.


My Newest Listings

New Development of the Month

Bergen Brooklyn

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Stressing Over Your Next Home Renovation Project? Let AI Handle It.
A sea of apps is helping take the headache out of home design and construction. ‘There seems to be a new one every day.’
Recently Closed Deals

One Clinton St, 28B

2,562 SF Luxury Condo in Brooklyn Heights

Status - In Contract


230 Ashland Place, 6C

Spacious 2BR in Fort Greene

Status - In Contract


216 Lincoln Road

4BR Townhouse in Prospect Lefferts Gardens

Status - In Contract


461 W 22nd St, C

Chelsea Townhouse with Private Terrace

Status - In Contract


10 W 15th St, 510

Modern 2BR Co-op in Flatiron

Status - In Contract


561 Pacific Street, 506

Boerum Hill 3BR with Private Terrace

Status - Closed


This Month's Mortgage Rate Snapshot

*The rates below are based on a $3,000,000 Condominium Purchase with a 20% down payment

10-Year Adjustable Rate: 6.375%


30-Year Fixed Rate: 

6.875% 

Q1 2024

Market Reports


Recorded Sales:

     

      Justin Rubinstein is a 19-year veteran of the real estate marketplace, who quickly gained attention from industry veterans and clients alike as a motivated and knowledgeable professional whose focus is on providing the best customer service possible while negotiating and protecting his clients with dogged tenacity. This tenacity and hard work ethic has proven fruitful as he has successfully negotiated over $1B in real estate transactions to date. Justin has enjoyed representing buyers and sellers of trophy properties such as the Time Warner Center, 56 Leonard, The Apthorp, One Madison, landmarked West Village townhouses, and new development penthouses. In each instance, his clients come away from the experience with a strong appreciation for his dedication and expertise... read more

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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