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Nate Walker
Father, Real Estate Junkie And Advocate For The Happiness And Equality Of All People
Father, Real Estate Junkie And Advocate For The Happiness And Equality Of All People


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Home Buyer Kit For First Time Buyers
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Check Out Our Favorite Scenes Of New Orleans #realestate
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Did You Know, You Can Buy A House With Zero Down Payment ?
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House For Sale In Guste Island.
3 Bed 2 Bath House In Madisonville School District
Turn Key, Move In Ready With An Outdoor Kitchen
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Easy To Show.
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What happens when modern technology and renovations meet historic homes?
We are seeing it in #NewOrleans #realestate right now.
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New Orleans Is A Diverse City.
Luxury Real Estate In New Orleans Reflects That Diversity.
What Do You Think Of When You Think New Orleans Luxury Living?
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Buy A House With Nate Walker Properties Home Buyer's Prep Kit


You are now about to cross the finish line. Ever since the contract was agreed upon a titling company has been working to make sure the property makes it to the act of sale.

This is where the closing costs are incurred. When choosing a title company, it is important to ask for an estimate of closing costs. It is also important to note that these costs can be negotiated to some extent.

The title company has been working to make sure ownership of the property can legally transfer to you. They are checking to make sure no unknown parties have a claim of ownership. The title company has been preparing and submitting the necessary documents to execute the sale of the property.

When the title company completes their work the lender will be notified. Once the lender is notified that everything is clear regarding the contracts and the title they will once again look at the file and if all requirements have been met the will issue the final approval known as the Clear to Close.

The Clear to Close is basically the green light to sign the papers. Once received the title company will schedule a time for everyone to sign the necessary paperwork. Now that all signatures are in place the loan will fund and you are officially a homeowner.

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Buy A House With Nate Walker Properties Home Buyer's Prep Kit


The next step in the process is the appraisal.

You can expect to spend another several hundred dollars. If you are financing the purchase the appraisal is required.

The purpose of the appraisal is to ensure that the house is worth what the lender is loaning. A lender will not loan more money than the property is worth.

The appraiser will look at the property in question and attempt to find similar properties that recently sold to gain an accurate market value of the property. It is important to have a reputable appraiser that understands the local market and the value of properties can vary greatly depending on the area or neighborhood which they are located.

If the appraisal comes back lower than the agreed upon sales price, there are a couple of options.

1. The agent can challenge the appraisal and offer new data for consideration.
2. The seller can lower the sales price to meet the appraisal value.
3. The buyer can produce the difference out of pocket.
4. The buyer and seller can negotiate and agree to a solution acceptable to both parties.

This is why it is important to understand the current market when pricing a home for sale or submitting an offer for purchase.
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Buy A House With Nate Walker Properties Home Buyer's Prep Kit


Now that you have agreed to purchase a home there are several things to do before the sale is complete. The first step is the home inspection.

The Home Inspection is where a professional inspector is hired to evaluate the property. This inspection will attempt to identify and locate any existing and or potential defects or issues that are not easily seen prior to making the offer.

This is the next point where you need to be ready to spend money. You can expect to spend several hundred dollars or more for a good inspection depending on the size of the property. This is money well spent. A good inspection will uncover any defects that you cannot see with the naked eye. Things like the condition of the roof, electrical system, plumbing, HVAC and much more will be included in a thorough inspection. Often times a house that looks great on the surface can have skeletons in the closet that show up during inspection. You don’t want to buy a house that has hidden problems that could potentially cost you thousands down the road.

Once the inspection report is obtained you will discuss your options with your agent.
If there are many defects and you do not wish to go forward with the sale now is the opportunity to walk away and get your deposit back and start your search again.
If you wish to continue you must look at the report and decide what items are considered deal breakers and what items are for the honey-do list.

If there are defects and you still wish to continue there are several options.
1. Ask the seller to fix the issues before the act of sale.
2. Ask for an allowance to be given to have the issues fixed by you after the act of sale.
3. Move forward regardless of the inspection report.

Sometimes the seller will agree to these requests, sometimes they will refuse, often there is compromise on both sides because at this point everyone wants to make sure this sale takes place.

It is important to note that often people think if they are buying new construction they do not need to have an inspection. This is not correct, as with any industry there are good builders and there are bad builders. You want to have an inspection to make sure everything was done correctly. There is nothing worse than a brand new house that has problems.
Once all of the issues that arise from the inspection are addressed we are ready to move forward.
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Buy A House With Nate Walker Properties Home Buyer's Prep Kit


Once you find the house that is for you, it is time to make an offer.

This is where we request that pre-approval letter from the lender in the amount of the offer. Sellers want to know that you are able to buy before they will entertain your offer.

When writing the offer, it is important to remember that you are trying spend a little as possible while the seller is trying to make as much profit as possible. A good agent will look at the recent sales and comparable properties in the area and offer advice when making an offer.

This is where you can start to expect to see your first expense, just like when you are renting a property you have to put down a deposit to show you are serious about the purchase. The time period from accepting an offer to getting to the act of sale is usually 45 days, it can be less or it can be more depending on the circumstances. In order to get the seller to take the property off of the market for that long they will expect what is called Good Faith Funds. This deposit can be as little as $500 up to $5000 depending on the size of the purchase. It will need to be delivered as soon as the contract is executed in order to fully secure the property.

The agents will work together at this point to negotiate the best and most acceptable terms for all parties involved. This can include price, closing costs, warranty, allowances, repairs and much more.

Once everything is agreed upon and signatures are in place you are now under contract and the real work begins. We will select the title company, your agent will send the file to the title company and deliver the deposit.
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