Are you in the market to buy a new home? Whether you're a first-time home-buyer or a real estate aficionado, there are a few key things to keep in mind when you're entering the Metro New Orleans market. Use these steps as a helpful reference point throughout your real estate journey.
For more help, expertise, and local experience to guide you throughout the process, explore what our team has to offer, and contact us to get started!
Phase 1:
Starting Your Home Search
Step 1: Find an Agent
Finding the right agent for you is crucial to success. Make sure you read over recommendations and reviews, do some research, and find an agent in your location.
Step 2: Get Preapproved
If you want to speed up the buying process and show sellers that you're serious, you should schedule a meeting with a lends. There, you can explore loan options, review your finances, and find out how much you qualify for.
Step 3: Discuss Your Needs
Buying a new home gives you the opportunity to look for all of the features that are important to you. Meet with your real estate agent, and discuss your wants, needs, and goals.
Step 4: Start Searching!
Once your agent knows what you're looking for, they'll set you up with a few showings. Take pictures, write a few notes, and have fun touring potential homes!
Phase 2:
The Offer Process
Step 5: Make an Offer
With your agent, review recently sold homes in the area to find a reasonable price, then make a competitive offer.
Step 6: Negotiate Terms
The seller now has three choices: accept your offer, reject your offer, or issue a counteroffer. You may need to counter a few times to reach an agreement that works for both parties.
Step 7: Finalize Your Financing
Next, it's time to work with your lender again and submit any necessary paperwork to get your financing secured.
Step 8: Conduct Inspections
The last thing you want in a new home is a bunch of unexpected issues, so make sure you conduct a thorough walkthrough inspection, detailing any issues or potential issues.
Step 9: Resolve Any Issues
Did something come up in the home inspection? You're entitled to ask for repairs, a credit, or a price reduction... or walk away with no obligations.
Phase 3:
The Closing Steps
Step 10: Conduct a Title Search
It's relatively uncommon, but make sure no one else can legally claim your property with a title search and title insurance.
Step 11: Obtain Funds for Closing
Once your loan is finalized, you'll be needing a very large check from the bank to secure your down payment.
Step 12: Meet at the Close
Meet with your agent and attorney, as well as the seller's agent and attorney, to sign all the final paperwork.
Step 13: Get the Keys!
Dot your last i, cross your last t, and get the keys to your beautiful new home! Congratulations on your real estate success!
Still, Have Questions or Ready to Get Started?
If you're thinking of buying a home in New Orleans, then it's time to contact our team. As your local real estate experts, we can answer all your buying questions, help connect you with the resources you need to make an informed decision, and successfully find your dream home. Take a look at some of the other home-buying resources we have to offer, and contact us today to get started!