Archive January 2012
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10 Step Home Buyers Guide
So you are ready to buy a new home, where do you begin?
Step 1: Establish a relationship with a Buyer's Agent
In Louisiana, there is NO FEE paid by the buyer for a Buyer's Agent. With all the information available on the internet you can easily do your research in advance to search for the areas top real estate agents.
When you find the agent that fits your needs, reach out to them. Send them an email or pick up the phone, and not just a random email requesting more information on a particular property without an intro. The best agents can spot 'tire kickers' a mile away based on the body of the email, they know you have sent that email out to anyone with a pulse from one of the national sites that will send it out in mass quantities. To be accepted as a new client by the best agents, be sure to direct your email to them personally, introduce yourself and your individual needs and ask how they can assist you.
Never underestimate the power of having a dedicated top agent on your team, a valuable tool available for you throughout the process indeed. The top agents will recognize a loyal client committed to working with them exclusively and will be there for you every step of the way without hesitation.
Step 2: Get Pre-Approved.
If you haven't already established a relationship with a lender, your Buyer's Agent can assist you by providing you with contact information for local lenders that will best suite your individual needs. Often times a Pre-approval can be done over the phone taking very little of your time. This step will establish how much home you can afford. Armed with this information , you and your agent can work more efficiently in searching for homes fitting your budget from the beginning.
Step 3: Get a Good Faith Estimate
Your lender will give an estimate of the down payment, closing cost and prepaids, basically the "cash to close" that will be expected from you at the closing table. Very important to understand how much cash will be needed to close the transaction in advance of making an offer to purchase. In the event you find it is higher than expected, your agent can assist you in writing a contract which would include seller paying some, or in some cases, all of your closing cost.
Step 4: You Now Know Your Price Range
Begin searching for properties in your price range, discuss with your Buyer's Agent what type of home you are looking for; How many bedrooms and bathrooms? Would you like a garage? What type of exterior do you desire? Would you like to search in a particular school district, need easy access to the interstate... etc. The more detailed information you can provide the better your agent can assist you in locating the perfect home for you.
Step 5: Your Buyers Agent will search for properties based on your specific criteria
Your buyers agent will send you available properties via email that meet youre criteria making it easy to begin searching for your home. No more wasting time on national sites with outdated info. Nothing worse than finding the home of your dreams only to find out it was actually sold a year ago. Get to the source of local up-to-date info, your buyers agent is privy to the actual local multiple listing service with up to the minute information about properties.
Step 6: View photos and information of the properties
After viewing photos and descriptions of properties, write down the MLS numbers or addresses of the properties you would like to see and send the list to your Buyer's Agent.
Step 7: Arrange a viewing day
Arrange a viewing day with your Buyers Agent to tour properties of interest! This is where the fun really begins! If you are seeking properties in close proximity, you can see several in a day!
Each property will require a scheduled appointment with the seller of the property, therefore be sure to provide your list of properties well in advance of your target viewing day so your Buyers Agent can put you in their planner and schedule all appointments in advance.
Step 8: View Comps
Request recent comps (Comparable Properties that have sold in the subdivision). Once you have found the property you are ready to make your own, your Buyers Agent can provide you a list of comparable properties to see what they are currently selling for. This will assist you in making your offer decision. Discuss your buying strategy, draw up a contract and allow your Buyer's Agent to begin negotiations!
Step 9: Once your purchase agreement is signed by all parties
After you and seller have reached an agreement on price and terms, your buyers agent will walk you through the closing process which will take 30 - 45 days!
Step 10: Receive the key to your new property - Enjoy!!
Occupancy takes place after closing, you will recieve the key to your new home at the closing table!
This weeks Hot Property featuring 212 Charles Court, Slidell, La - 01/27/12
UPDATE: Too Late! Under Contract 2/2/12! Yes, it was a Hot Property!!
Have your eye out for a great deal on Waterfront Property in Eden Isles? I do! Allow me to introduce you to this week's Hot Property featuring 212 Charles Court, Slidell, La. 70458
212 Charles Courtis a new waterfront listing in Eden Isles Subdivision, it is a bank repo and listed at only $213,000.00! Upon touring this home I noted the home appears to be about 99% complete in its renovations. The paint colors are warm and neutral and the fresh sheetrock texturing is a desirable orange peel type texturing which lends to the updated look of the property.
The windows appear to have been recently updated and WOW what gorgeous windows in the kitchen nook area, giving you an extra large, light and bright view of the waterfront.
There is tile flooring throughout the home, beautiful cabinetry in the kitchen and baths and lots of trim work as well as new interior paneled doors.
The exterior patio is a surprising little tropical oasis with a stunning wood lined raised ceiling. Along the water there is a boat dock with a sling lift and an elevated deck.
The house is just under 2000 square feet with three bedrooms and two full baths. It's light and bright and boast many custom details just waiting for finishing touches. All in all, this home is definitely "Hot Property" worthy, don't delay, this one will go quickly.
As with all properties, hiring a licensed home inspector would be advised to give it a thorough look. Per your contract you will be provided an inspection period after negotiating the deal to do so.
This listing is courtesy of Hera Realty. Smith Realty Group would represent the buyer in this transaction and offers this listing info as a courtesy to our buyer clients.
Great Cities to Consider when Transferring to The New Orleans Area
So, you've discovered you are being transferred to the New Orleans area, congratulations and welcome! Undoubtedly your next step is to begin scouring the internet to learn more about your next locale. We are pleased you landed on our page and are delighted to introduce to you a few great cities to consider when searching for a new place to call home!
In part one of this series Slidell, Louisiana is our featured city!
Slidell, Louisiana is a lovely community just a short drive to the city of New Orleans to the west or to the Mississippi Gulf Coast to the east. Slidell offers a variety of communities to choose from including gated golf course as well as waterfront. If you'd like to spread out a bit, you'll surely enjoy the many communities boasting nearly an acre or more of land. Alternately, if you prefer to spend your time doing anything BUT yard work Slidell's garden and patio home communities may be just what you are looking for!
The first exit after crossing Lake Pontchartrain from New Orleans is Oak Harbor Blvd, to the right you will discover Lakeshore Estates, a guard gated waterfront community with custom built luxury homes on Lake Pontchartrain as well as homes situated on navigable canals leading to Lake Pontchartrain. To the left you will enter Oak Harbor Subdivision, here you will find the gated subdivisions of Oak Harbor, with your choice of Golf Course or Waterfront subdivisions on waterways navigable to Lake Pontchartrain. If you are getting excited about the idea of your new waterfront lifestyle, you will also discover Eden Isles and Clipper Estates just off Oak Harbor Blvd.
As you continue east on Interstate 10 after the Oak Harbor exit you will find many other Slidell Subdivisions to choose from off of Interstate 10 as well as Interstate 12.
Slidell area events are many as Slidell offers an array of area attractions, annual festivals, sports, recreation and local arts and entertainment for all ages to enjoy. The flavor of New Orleans culture and warm southern hospitality awaits you in Slidell, Louisiana! An excellent choice when seeking a suburb with a short commute to the city of New Orleans!