Tag Archive: selling a home


Final Walk-Through

Today’s the day! You found the perfect house, made an offer, negotiated the price, had an inspection and ensured your mortgage. Now, the only thing standing in the way of you and “home sweet home” is your final walk-through.

A walk-through is normally scheduled the day of, or day before the settlement, as the seller should be completely moved out. The object of the walk-through is to ensure that the house stands in the same condition as when you agreed to buy it.

This is not the time to nitpick about nail holes or carpet imperfections. Unless you’ve negotiated allowances for such issues, you’ll have to address them later after you’ve signed your name on the contract.

What could impact the transaction is if property and fixtures that the seller agreed to leave behind are missing, such as a washing machine, pool table or garage cabinets; or when the seller leaves things he or she was supposed to remove, such as paint cans, furniture and other belongings.

With your agent at your side, be sure that obligatory repairs flagged during the home inspection are completed to code and satisfaction. If the seller agreed to replace an aging water heater but didn’t do it, this must be accounted for during settlement.

You may be eager to leave the house and sign that contract, but don’t rush through the inspection. Run the appliances through a full cycle to make sure they work. Turn on all faucets and showers as well.

Some contracts will specify that the buyer complete a walk-through inspection a week or two prior to settlement and then schedule a quick meeting prior to settlement to check off any items previously noted. Again, any items or tasks that aren’t complete must be justified at the time of settlement.

Though issues may arise, the majority of walk-throughs go without a hitch as both parties are eager to complete the deal and willing to negotiate any final hurdles.

Prudential Showcase Properties is an independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.

 

christmas 2007

christmas 2007 (Photo credit: paparutzi)

          One of the great debates in real estate concerns the prospect of keeping a house on the market during the holiday season. Some argue that the time between Thanksgiving and New Year’s Eve is busy enough without the worry of buying a home, while proponents like the prospects since those shopping are generally more serious about buying.

A downside for the seller is that the hectic time of year makes it harder to get your home ready at the drop of a hat if a call comes in. People are busy making food, wrapping presents and preparing for a house-full of guests.

However, your house will also be decorated with beautiful lights and decorations and will create a festive elegance to a home that will attract buyers.

Some agents believe that keeping your house on the market will have you appealing to a much smaller inventory of buyers who have very specific needs that your home might not match. Others counter that less inventory over the holidays means less competition and since more people have vacations this time of year, they actually have more time to search for their ideal home.

The holidays can provide a breather for homes that have been on the market awhile, as some use the time to remove property from the market in favor of a fresh start in January. However, you risk losing the buyer who may have been looking in December to capture tax benefits that many consider with their need to buy a home.

            What’s the best solution? Of course it’s up to individual homeowners and their respective circumstances. Prospective sellers should discuss their holiday prospects in detail with their Prudential Real Estate agent. Working together, they can make holiday wishes come true.

J Mangham Photo cropped and websizedInvestment Seminar with Starker Services, Inc.
Represented by John Mangham, CPA
Presented by Prudential Showcase Properties

Friday, April 26th 10am-2pm
Wiregrass Museum of Art
Great Hall 126 Museum Ave.
Cost of Seminar $20
Lunch will be provided
RSVP by April 24th to 334.792.7474

Click Here to RSVP today!

The Foreclosure phenomenon: Competing with Hedge funds in Today’s Market

Part 1: Seven Secrets to Successful Investing— Why everyone is interested in buying houses today and hedge fund’s impact on the market. This segment reviews and explains investor objectives and offers rules of thumb used by successful investors.

Part 2: Life on the Courthouse Steps— The nuts and bolts of foreclosures and how we got where we are today in the frothy foreclosure arena. This segment covers the foreclosure process from inception of a mortgage through the crying of foreclosure sale.

Both segments include strategies used by successful investors
both large and small. Don’t miss this opportunity to join a seasoned investor as John Mangham walks you through lessons learned from investing in residential real estate for over 3 decades. During the past several years John and his partners have purchased over 200 foreclosure properties, have raised millions in private equity, assembled two buy and hold funds, and have resold over 150 properties in one of the most challenging markets we’ve ever seen.

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