Buying a Home?
Looking to buy a home in New Orleans, Metairie, Kenner, the West Bank, the North Shore, or the Mississippi Gulf Coast Region? Revolution Realty can assist you!
Buying a home can be stressful for many people. However, it doesn’t have to be stressful if you have a plan. We like to provide our buyers with a plan of the entire buying process. Our plan consists of nine steps.
1. Prepare to purchase a home
Begin by creating an outline of items you want to have, plan for what school districts you want to live in, and start planning your budget. Your mortgage payment should be no more than 1/3 of your monthly income.
2. Contact a real estate agent
This is where Revolution Realty comes in. We would like to set up an appointment to meet with you to talk about your real estate needs and your plans for the future. We will talk about the mortgage and housing industries and other factors that might affect your decision to buy a home now or in the near future, as well as areas and neighborhoods that you are interested in.
3. Begin your home search
After our first meeting, we will begin looking for houses on the market in the area that you have chosen. We will review the list of homes, pick the ones that you like, and set up appointments to view them. When we view the homes, we will show you the positive and negative features and ask you to tell us about your likes and dislikes. Buyers usually change their must haves list as they view several homes. After viewing several homes we will look through the likes and dislikes once more and narrow it down to the home of your dreams.
4. Know the housing market
Your agent’s knowledge of the New Orleans Metropolitan Area / Mississippi Gulf Coast Region housing market is an important element in your home search. We can assure you that we are knowledgeable in all neighborhoods. When we view homes, we will be able to tell you when the asking price has room for negotiation and when we think the home is “priced to sell.” When working with an agent, be sure to ask a lot of questions. You can call us at (504) 309-7224 or email us at realtyrevolutionnola@gmail.com and we will be happy to answer any questions you might have. Our understanding of the market will help you through the entire buying process.
5. Find your dream home
We are confident that we will help you find your dream home in the New Orleans Metropolitan / Mississippi Gulf Coast Area. When this happens, we will write your home purchase offer. The offer will be written keeping your needs in mind. When submitting your home purchase offer, you will need to submit “earnest money.” This is a cash deposit made to a seller to secure the offer to purchase the property. Once an offer is accepted, we should close within 30-60 days from the time of acceptance.
6. Negotiate
Most contracts aren’t accepted on the beginning offer and it is common to receive a counter offer from the seller. Don’t be intimidated if your offer isn’t accepted the first time. You will have the option to agree to the counter offer, present your own counter offer, or decline the seller’s counter offer and move on. How aggressively we negotiate the contract depends on the state of the market and your financing limits. Be assured that we will formulate a contract that works well for you.
7. Obtain a loan
Once the contract is accepted and signed by all parties, you will work with your lender to close the loan. This process will not take long if you are already “pre-qualified,” but you will need to stay in touch with your lender. We will provide the lender with all of the property information needed to close the loan.
8. Close the deal
You will receive a Good Faith Estimate (GFE) outlining closing costs from your lender. This estimate is based on the loan amount and RESPA requirements order that it has to involve all closing costs and be within a tight range of accuracy. We will review and go over each line of the estimate and let you know if everything looks okay. If everything is okay then it is time to close on your home. This will usually take place at a title company.
9. Move in
Congratulations, it’s time to move into your new home! We hope you will enjoy your new home and if you need anything, just call us at (504) 309-7224 or send us an email at realtyrevolutionnola.com.
When you are ready to get started, contact us here or send us an email (realtyrevolutionnola@gmail.com). We will be happy to answer any questions you may have about buying a home in the New Orleans area.