Punch List Items - New Development Condos
New Yorkers have great taste, and with that comes a certain expectation of workmanship when buying a brand new condo. Often times a buyer can purchase pre-sale, or based on floor plans and renderings years prior to a building even breaking ground. For buyers in contract, as the date of closing gets closer and closer, your broker will coordinate a Punch List is Walk Through. This type of walk through is similar in resale purchases in that, it is done before closing on the property. Most often it is preformed a day or two before the scheduled closing in order to get the most accurate representation of the condition of the home, and insure the property has not incurred any damages since contract signing.
Myself ( your broker) and you will walk through whole apartment and document any Punch List Items the sponsor has to fix. Often times the developer’s representative such as a construction or project manager will accompany this meeting. Their priority is to be the developers’ eyes and ears to speak to the workmanship of items that may not be acceptable, or appliances that may have been damaged or not work properly. They will be responsible for signing off on the items that need repair and coordinating the appropriate tradesman to repair it. There are many materials sourced to pull together the look, feel, and design of some of NYC’s most coveted homes. Having a material defect, such as a floor saddle that was installed unevenly, or cracked tiles, missing grout spots, etc - are all elements that a sponsor is typically responsible for fixing up to a year after closing. You’ll want to make sure your Punch List is accurate, because you may not be able to add new items on the list during the second and final walk-through, so make sure you include everything the first time.
These punch list items will be sent to both parties’ attorneys for review. In the event that an item cannot be repaired, sourced, or replaced - a credit at closing is given to the buyer.
The following are some of the many elements we will test and document together.
Checking every outlet for a charge
Running All appliances
Opening All windows and ensuring they close seamlessly.
Opening and checking all soft close cabinets work
Check outlets have not been painted over
Check flooring is not dented, scratched or unfinished
Check for cracks on any glass, wood, stone, or mirrored surfaces and any chipped paint, nicks, or holes on walls. Look for both scratches on wood floors and stains on carpets.
In the bathrooms, flush every toilet, run both hot and cold water to test water pressure, and look under the sinks for signs of leaking and/or mold.
Turn both the heat and the cooling system on to verify the HVAC operates properly and monitor how long it takes to come on.
Opening All Air distribution vents to check for filters
Since you also have a terrace, I'll also check that the drainage caps are installed and tiles are not loose.
Lastly, confirm that all instruction manuals and warranties are on premise as well as the right copies of keys.
TIPS:
Wear comfortable clothing that you don’t mind getting dirty, or dusty.
Your broker will bring an outlet/GFI tester but you can also bring a phone charger to check outlets
Your broker will be the mediator to ensure the sponsor representative does not rush you, or disregard any needs for repairs or credits
Look, touch, and turn on everything - as seen in list above.
Make sure you get a copy of the signed punch list for your attorney and for your record keeping
Record any issues on your punch list and also take pictures of the defects, as well as a copy of the signed list on site. Sometimes developers forget to forward a scanned copy/report so you’ll want a photo for safe keeping.
Unless previously negotiated in your contract, the following items do not warrant a credit and do not go on a Punch List:
Asking the sponsor to change fixtures to your liking
Asking the sponsor to paint walls different colors
Asking the sponsor to install closet shelving systems or blinds
If you have any questions about purchasing a new development in NYC, let’s set up a private phone call to better discuss your needs and my strategy.