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Stephanie Villani
REALTOR®, GRI, ABR, SRS
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Real Estate Tips

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Community Guides | 50 Posts
Home Tips | 6 Posts
July
20

Your Guide to the Closing Process

closing process tips

Before you officially become a homeowner, the closing process is one of the last steps in the purchase process. Our real estate agents recommend that homebuyers understand what the closing process consists of so that they know what to expect. Here's what you need to know. 

  • Closing is When the Property Officially Becomes Your New Home
    Closing is the portion of the home purchasing process where ownership of the property transfers from the seller to the buyer. After checking out Baton Rouge homes for sale, you'll make an offer to the seller. While you'll likely include earnest money with your offer to purchase the home, the home isn't officially yours until you close on the property. It usually takes between four to six weeks to close on the purchase of a home, though the process can take longer if an issue arises. For example, if the property doesn't appraise for the necessary amount, this may slow the purchase down. Or, if the home inspection returns with a lot of issues, it may take time for the buyer and seller to resolve this problem. 
  • Your Closing Date is Included in Your Home Offer
    A property's closing date is included in the home offer that the buyer and seller ultimately agree to. It's customary for the buyer to propose the initial closing date, but the seller can propose a different closing date if desired. Some sellers may prefer a quick or prolonged period before they close on the home to better suit their own homebuying needs. During Baton Rouge open houses, home sellers may advertise their willingness to agree to a fast or extended closing period. 
  • You Need to Complete Certain Tasks to Close on a Home
    Before your closing date, you need to confirm that certain tasks have been completed. Your mortgage lender will require an appraisal to confirm that they can fund the mortgage for the home. If the property's appraisal falls short, you'll need to renegotiate the deal with the seller or potentially make a larger down payment. A home inspection is highly recommended to make sure that the home doesn't have any expensive problems. Your lender will require you to submit forms verifying your assets and income to approve and fund your home loan. You'll also need to purchase homeowner's insurance for the property. Before your closing date, you'll complete a final walkthrough to confirm that the property is in the expected condition before your actual closing appointment. If you notice any issue with the home, you'll need to let your real estate agent know immediately. 
  • Closing Requires a Lot of Paperwork
    There's a lot of paperwork required to purchase a home; you can expect to sign between 50 and 100 pages during your closing session. Take the time to go through each document so that you understand what you're signing and that the forms are consistent with what you're expecting. You'll also bring money to the closing appointment (usually in the form of a certified check or a wire transfer) to cover your down payment and closing costs. About three business days before your closing appointment, you'll receive a Closing Disclosure that details your closing costs and states who is paying for each item. 

Ready to begin your home search? Contact us today to get started!

July
8

Tips for Buying a Historic Home

Historic Home Tips

If you're searching for a home with character and historical significance, a historic home is an excellent option.

A historic home is a property that retains a significant amount of the original construction and design, is at least 50 years old (potentially less if an event of historical significance happened on the property), and is connected to events that are historically important. 

However, there are a few things that make owning a historic home different from owning a typical home. Our real estate agents suggest following these tips when buying a historic home to ensure it's a great fit for your needs and budget. 

  • Realize That Historic Homes are Ideal for Buyers Interested in Preserving the Home
    If you want a home that you can modernize or make a lot of structural changes to, a historic home isn't the right fit for your design preferences. When you purchase a historic home, there are typically guidelines that specify what changes you can make to the property. As the owner, you're expected to maintain the original charm and design of the home. There are countless properties that you can renovate or redesign, but a historic home should be accepted as is. When you're checking out Lafayette homes for sale, look for a property that has a layout and design that meets your family's needs. For example, historic homes tend to have multiple small rooms rather than an open floor plan. If you want space for gathering with your family, you might look for a layout with multiple small rooms in close proximity to one another. You can then use each room for a specific function. 
  • Embrace the Uniquely Distinct Architecture and Charm of a Historic Home
    Purchasing a historic home often ensures that your home has a style and design that stands out from other homes in your area. This historic, authentic charm simply can't be replicated by more modern homes; many historic homes even experience higher than average appreciation in their property values thanks to the distinctiveness of the craftsmanship and features. 
  • Know That Updates to the Home Will be More Expensive
    You'll need to make occasional updates and maintenance repairs to the home that adhere to the original design. This means that you might spend more money on home maintenance and renovation than you would on a newer home. A historic home often requires specific materials and specialized labor to ensure that the repairs are as authentic as possible. To help cover the cost of the repairs, you can utilize a federal Historic Rehabilitation Tax Credit. There are also state programs that assist with defraying the expenses associated with maintaining a historic property. 
  • Explore Financing Programs Designed for Historic Homes
    A historic home can be a terrific investment, but it can also be difficult to procure financing through traditional mortgage programs. This is especially common if the home requires a lot of repairs or has structural problems. Fortunately, there are programs available that offer financial resources for restoring and caring for historic homes.

Ready to check out historic homes that you can call your home? Contact us today to get started!

July
6

Long-Distance House Hunting Tips

house hunting

Looking for a house can be challenging under any circumstances. It's even more difficult when you're looking somewhere far away from the city where you currently live. There are plenty of Baton Rouge homes for sale, but how do you know which one is right for you when you're that far away? Here are a few tips for long-distance house hunting.

  • Plan Ahead
    When you're looking locally, you have the time to browse casually and get a feel for what's available before you commit to anything. When you're hunting long-distance, you don't have that luxury. Make a comprehensive list of everything you're looking for in a house, including both your wants and your must-haves.

  • Be Flexible
    Keep in mind that your new area might not be like your old one. You may have your heart set on a particular style, but that style might not be as popular or widely available in your new city as it is in your current one. This is where your list comes in handy. It's important to know which features you absolutely need in your new home, and which ones you can compromise on.

  • Browse Home Listing Sites
    Looking at house listings online is no substitute for actually being there in person, but they can still provide helpful insight into the area where you're searching. Online listings can give you an idea of what's available in the area and how much you can expect to pay for it. This will help you as you plan your budget, and allow you to house hunt more efficiently.

  • Get a Good Agent
    This is important no matter where you're looking. But especially long-distance house hunting is something you shouldn't do alone. An agent who knows both the area and your needs can guide you through the process, helping you find places that meet your standards and fit your budget. That way, if you do manage to plan a brief trip to Baton Rouge, you can make the most of your time there.

  • Plan a Trip
    Carve out at least a couple of days to experience the new area for yourself. Find out from your real estate agent what Baton Rouge open houses are going on, and see if you can visit a few of them while you're there. However, the trip is important, not just for the houses themselves, but for the neighborhoods. Where are the schools, grocery stores, and other amenities, and how easy are they to get to? What's the traffic like? These are the sorts of things you can only find out by visiting a place in person. Be sure to go in with a clear plan and a clear objective, to make efficient use of your limited time there.

  • Understand What You're Doing
    Moving to a new city is a big step. It can also be a rewarding one, but make sure you're ready to do it before taking the plunge.

These are your first steps toward finding a new home in a new city. It's not an easy ordeal, but our real estate agents can help you through it. Contact us to get started.

September
17

What to Know Before Buying a House Virtually

When the global pandemic first started, Christopher and Sarra were living in Ohio and had just given birth to their first newborn daughter. Offered a new career opportunity in New Orleans, they had to quickly find a house and move. 

Because of COVID-19 and their new baby, they didn't feel comfortable traveling to New Orleans and touring multiple homes in person. Instead, they reached out to Latter & Blum Realtor, Stephanie Burkett, who is highly experienced in virtual showings and selling of homes due to her experience working with military clients. 

After several virtual tours, Christopher and Sarra finally found a place to call home in New Orleans without ever touring it in person. The family's experience of finding a home essentially "sight unseen" is not an uncommon one, particularly during the coronavirus pandemic. Below are some tips for prospective home buyers that are considering buying a home virtually. 

 

1. Learn how to read about a listing online

Before you reach out to an agent and start an online search for your home, watch out for these red flags as you click through pictures:

  • Are there more photos of the home's exterior than the interior? If so, the inside might need work.
  • Photos with closed curtains or blinds could potentially be hiding an unfavorable view.
  • If a picture of a bathroom focuses on a sink, it can mean the bathroom is very small.
  • Photos that appear stretched may be smaller than it appears online.
  • Be aware of listing terms. A "fixer-upper" can mean an investment opportunity or require updating.

 

2. Pick the right real estate agent 

Like Christopher and Sarra, choosing an agent that is experienced in helping families relocate is a major plus when shopping for a home virtually. After all, your agent will be your eyes and ears during the entire touring process. Agents that specialize in relocation may understand more of the challenges that come along with buying a home sight unseen, especially since there are a lot more unknown factors and hand-holding involved. 

Pro Tip: Don't hesitate to ask your agent the following questions: Can you help schedule movers and get different moving options and quotes? Can your agent help set up services at the home or at least provide contact information for water, gas, garbage, electrical, etc.? 

 Looking for a qualified Realtor? Visit here to help you find the right agent for your needs. 

3. Request an in-depth video tour 

Before going on a virtual tour, have the floor plan of the space handy to help with determining how big a room is or how high the ceilings are. Ideally, your agent should start the tour while driving up to the house, in order to give you a better sense of the neighborhood and local amenities. If you're a parent, you may also want to request that the agent drive to the nearby schools to give a sense of how long it would take the kids to get to school each morning. From there, the agent should show you every part of the home from every possible angle. 

Pro Tip: Ask as many questions as possible — particularly about the things you can't learn just from looking at a home. Is the neighbor's dog barking all day? Can you hear planes overhead? Is there a fire station nearby? Does the house have a certain odor?

 

Visit our website to start your virtual home search today!

Latter & Blum
430 Notre Dame St.
New Orleans, LA 70130
(866) 794-1022
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 12/04/2022. The listing information on this page last changed on 12/04/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Houston Association of Realtors (last updated Sun 12/04/2022 12:32:26 AM EST) or Fort Polk MLS (last updated Sat 12/03/2022 11:30:06 PM EST) or Greater Southern MLS (last updated Sat 12/03/2022 11:35:12 PM EST) or Greater Baton Rouge MLS (last updated Sat 12/03/2022 11:30:40 PM EST) or GSREIN MLS (last updated Sun 12/04/2022 1:09:58 AM EST) or Bayou MLS (last updated Sat 12/03/2022 11:20:45 PM EST) or Pearl River MLS (last updated Sat 12/03/2022 11:24:17 PM EST) or GCLAR MLS (last updated Sat 12/03/2022 11:12:09 PM EST) or MGCMLS (last updated Mon 10/04/2021 9:31:53 AM EST) or Realtor Association of Acadiana (last updated Sat 12/03/2022 11:22:29 PM EST) or Southwest Mississippi MLS (last updated Sat 12/03/2022 11:15:23 PM EST) or MLS United (last updated Sun 12/04/2022 1:36:09 AM EST). Real estate listings held by brokerage firms other than Latter & Blum may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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Agency License Information: Latter & Blum is licensed in Louisiana by the Louisiana Real Estate Commission. Latter & Blum is also licensed in Texas and Mississippi.


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