Are you wondering “how do I buy a house in New Orleans?” Well, you’ve stopped at the right place. Team Be New Orleans can guide you through the one-way streets and potholes of home buying.
Traditionally you would start your home buying journey like this:
- Pick a Realtor
- Talk to a local lender
- Figure out your wants and needs
- See some houses!
In the world we live in now, this list stays true but you’ve likely already been shopping for homes online and Googled a lot of your questions. Maybe you’ve even gone to a few open houses! Honestly, this is great. We find that when most people take the time to figure out what the want and need in a house ahead of time, it helps eliminate homes that aren’t the right fit.
However, some of these random Google searches about home buying will land you on pages that don’t address the needs of New Orleans home buyers. That’s where we step in!
New Orleans Home Buying Step #1: Find an Amazing Realtor
Well, since you’re already here, we might just be the right fit for you. But, if we aren’t the right fit, that’s ok too. It’s important to find a New Orleans real estate agent that understands what you’re looking for.
What are your long-term plans? What neighborhood fits your lifestyle? Do you work from home and need a quiet street? Do you love cooking or need a huge yard for your dogs? These questions and more are things we want to know about you as we begin your home search.
New Orleans Home Buying Step #2: Financing
How are you going to pay for this home? Like most homebuyers, you will probably get a mortgage. With a million loan officers out there, how do you know who to work with?
Local is almost always better. Finding an awesome local lender is going to make your home buying experience better.
As your real estate agent, we can refer you to a great mortgage lender who is going to look out for your best interests. Whether you need down payment assistance, closing cost help, or the very best interest rate – we want to make sure you’re happy with the financing of your home.
New Orleans Home Buying Step #3: Find a House
According to the national average, most people see about 5 houses before picking “the one”.
We want to let you know that some people only see one house and some people see 40 houses. There are no right or wrong amount of houses to see.
So, don’t let your mom tell you that you have to see ten more houses before choosing the right one for you. Consequently, many people have lost their dream homes because friends or family encouraged them to “keep looking”.
New Orleans Home Buying Step #4: Make an Offer
Once we find the perfect home for you, we are going to make an offer!
Important reading: How to Make an Offer on a New Orleans Home
New Orleans Home Buying Step #5: Home Inspections
Getting home inspections is a really important step when buying a home. In New Orleans, we encourage our homebuyers to get general home inspections, a video pipe inspection, and a termite inspection.
Important Reading: New Orleans Home Inspections
New Orleans Home Buying Step #6: Property Inspection Response
Your property inspection response is your chance to ask for repairs or money off of the house you’re buying. We also call these repair negotiations.
How do we decide what to ask for?
We will take a look at the inspection reports and determine what are the most important items to you. From there, we may get quotes from a licensed professional to determine the amount of money to ask for. The other option we have is to ask the seller to make any repairs for you.
This portion of the home buying process tends to be the most stressful. During this time, you may also decide to cancel the contract and walk away. We have to do what’s best for you!
New Orleans Home Buying Step #7: The Appraisal
If you decide to move forward with purchasing this home after repair negotiations, we will order the appraisal.
Important Reading: What is an appraisal?
New Orleans Home Buying step #8: The Re-Inspection
If the seller has done repairs on the home, we must ALWAYS do a re-inspection. The reason for this is that many home sellers do not complete the repairs. Maybe they forgot. Maybe their contractor told them the work was done. It doesn’t matter the reason, it’s our job to ensure the repairs done are adequate.
Once you purchase the home, you cannot ask the seller to make any repairs – even if it was something they agreed to! You’re buying this house “as-is.”
Important Reading: What does “As-Is” Mean?
New Orleans Home Buying Step #9: The Final Walk-Thru
The final walk-thru will sometimes coincide with the re-inspection of the property.
What do we check for in the final walk-thru?
- Are the appliances still there that they agreed to leave?
- Are there any new leaks that weren’t present before?
- Is the house in the same or better condition as we saw it previously?
- Is everything functioning properly?
After the final walk-thru, you are taking the house in that exact condition.
New Orleans Home Buying Step #10: The Closing!
Your day has arrived and you are now a homeowner!
Important Read: Closing Time!
While many things can happen in between all these home buying steps, this list will guide you through the main components.