Engle Realty: Louisiana Real Estate
Residential & Commercial Real Estate Sales and Rentals
Write down a list answering the following questions:
Why this step is important: It is important to know why you are purchasing real estate because if your ultimate goal is to live in it for two years and then rent it out the home afterward, you will know beforehand that you will not want to make any large improvements to the property that would not be necessary when renting it out three years down the road. By also knowing if you "never want to sell the property" you may find that your home must have enough room to pull a trailer through the back yard of the home, or else this one factor may be a huge burden throughout the years because you didn't take the time to think about the need to be able to drive a car through to the back yard. By knowing beforehand where your children will be going to school or where you will be working or spending most of your time, you can plan ahead of time and look in locations that are conveniently nearby. Your Engle Realty real estate agent can help you find a home that meets most or all of your needs using their exclusive MLS search engine, making your real estate search much easier and streamlined.
Obtain proof of ability to pay for the home. If you are paying cash for your home and the money is in the bank, a simple bank statement will be sufficient to tell the seller of your new home that you have the ability to pay for their home. This is known in real estate terms as "PROOF OF FUNDS". Your Engle Realty real estate agent will want to have this so that they know that you have the funds to purchase the homes you are looking at.
For those financing their purchase of their home they may go to their local bank whom they already have a pre-established relationship with or they may ask their Engle Realty real estate agent for a good mortgage contact who can provide them prompt service and is capable of helping them obtain a loan. Engle Realty real estate agents have a network of reputable loan officers and mortgage contacts who are committed to providing competitive rates and the best customer service. Buyers will need to get a letter from their chosen loan officer or mortgage broker which is known as a Pre-qualification or a Pre-approval. A pre-qualification is the initial paper you will receive that is based on what you tell the loan officer on the phone. A pre-approval is best, as it is when the loan officer actually verifies the information that you give them, however it can take longer to receive this letter from the loan officer. Your Engle Realty real estate agent can advise you on the particulars.
After deciding on the location of where you'd like to live, find and choose a local area real estate agent that is prominent in the area to represent you in your real estate purchase.
Agents are paid by the seller's pre-determined amount.
Your real estate agent will likely save you money by negotiating the price down.
Your real estate agent will assist you through the house-buying process.
Your real estate agent will guide you, ensuring you do what needs to be done on time.
Real estate agents expedite the home-buying process, saving you time.
Real estate agents spot problems of homes that you may not realize, which can save you lots of time, money and effort.
Real Estate agents can inform you about new developments that can save you money, (i.e.. Tax credits, Grants, Mortgage options, Homestead Exemption, 1031-Exchanges, properties coming on the market etc.)
Real estate agents can help you find a deal on a high demand property.