[1][2] Walbøe was born at the Valbø farm of Ørskog parish in Møre og Romsdal, Norway.
[4] From 1799 to 1827, Walbøe served as a member of the Conciliation Commission (forlikskommissær) which mediated private disputes at Ørskog in Møre og Romsdal.
Together with Hilmar Meincke Krohg and Jens Stub, he represented Romsdals amt at the Norwegian Constituent Assembly at Eidsvoll in 1814.
In company with other farmers, he proposed to sell church-owned property in order to generate capital to establish a Norwegian Central Bank.
Valbo stood with the Union party (Unionspartiet), as did his fellow representative, Jens Stub.