Property Checklist

Walking a Property

How to do a proper Walkthrough

Objective
Build trust and rapport with an in-home walkthrough.
Get pictures and a full in-person view of the home.

Who does a walkthrough apply to?
Property is within driving distance
Motivated Home Owner / Decision Maker
Open to selling to an investor (not retail)

When a walkthrough is not a good fit.
Not within driving distance
Wants nothing lower than Full Market Value

Expectation.
Walking a property should always be conducted with a smile and a TBH branded shirt and/or hat.
It is your responsibility to represent the brand and provide an exceptional experience that gives a lasting impression.

Setting Up Your Walkthrough

The Script:
Your property sounds like it would be a great fit for what we are looking for and I would love to give you the most amount of money possible for your home. I’d like to schedule a time to come out and walk the property and take some structural photos for my contractor so that I can get you the highest offer possible. When would be the most convenient day for me to come see the property?

(answer)

Ok, great! I can definitely make that happen. I will contact you on (day) when I am getting ready to head your way and will look forward to seeing your home!

Upon Arrival
Upon arriving at the property, park within sight of the home and call/message the seller that you have arrived. Get your smile on and go make a friend!

While walking the property, point out areas that could potentially be areas of concern.
(Pro Tip: take a couple of the little things you point out and tell them “I wont tell my boss about that one, I want you to get the most money possible” to build trust with the seller.)

General Areas of Inspection

 Foundation or Structural Problems:

This should be a big concern because the foundation of a property generally affects every part of it. Fixing structural problems could be the costliest part of the rehab. Some signs of these issues are wall cracks that go diagonally from the corners of entry points (windows doors), cracked tile/concrete floors and off-level floors (raised in some areas or sagging in some areas).

 Renovations and Additions:

Ask if there have been any renovations or new additions to the building; these could be hiding problems with the investment property.

 Roof Problems:

A damaged roof could spread to the rest of the property and cost you thousands of dollars in repairs. Some problems caused by a compromised roof are interior water damage, pest infestations, and inefficient insulation.

 Plumbing Problems:

Check out the income property’s plumbing system. Plumbing problems could cause some long-term issues and serious damage, such as mold infestations.

 Mechanicals and Appliances:

Check for any stickers indicating installation dates on home appliances. Any equipment nearing the end of its useful life is more likely to fail. This will end up with you either constantly spending money on rental repairs, or just buying new equipment; so more costs either way. Typically, water heaters last 10-15 years, furnaces last 15-30 years, central air conditioning units last around 20 years, refrigerators last 15-20 years, and washers and dryers last 10-15 years.

 Mold and Mildew Damage:

This should be on your property inspection checklist especially if you’re inspecting a property in a wet climate. Mold and mildew damage could also result from a cracked foundation as we mentioned above. However, infestations usually start inside walls and won’t be visible upon first inspection. A professional inspector would be able to conduct the proper tests, but it’s still good to know what to look out for.


Now let’s list some specifics of the property inspection checklist pertaining to each room/part of the property:

Kitchen

 Cabinets/drawers all open and close smoothly with no signs of mold or decay
 Oven is working and in good condition (door opens slowly, springs still work)
 Stove has functioning burners
 The sink faucet has good water pressure
 Garbage disposal runs
 Range hood fan and light work and underneath the hood is clean
 Dishwasher and microwave both work properly (springs still work)
 Countertops aren’t chipped/cracked/scratched
 All windows open and close properly

Bathrooms

 No leaks from any faucets
 Clean, stable, and functioning toilet
 No poor draining from toilet/sink/tub
 Fan ventilation works
 Tub/shower is in good condition (no chips or cracks/caulking in good condition)
 No broken tiles

Bedrooms

 Closet doors open and close easily (if the closets have doors)
 Windows open and close easily
 Flooring and carpeting is in good condition (no cracked tiles/stained carpets/scratched hardwood)

Basement/Crawl Spaces

 No major cracks in the walls, especially large horizontal cracks (this could mean bigger foundation problems)
 No signs of insect, mold, or mildew damage
 Proper insulation/ventilation

Roof

 Clean vents
 No molding/rotting shingles
 Chimney is in good condition (no cracks)

Exterior

 Lawn is in good shape (green grass, maintained landscaping)
 Sturdy fence
 Sprinkler system is working properly
 Outdoor lights all turn on and outdoor outlets all work
 Garage door opens and closes easily