January 5th, 2009 categories: Steps to Purchase
I often get asked how do I start my search for a New Orleans condo? Contacting an experienced real estate agent who deals with condos is a common way to start. I will then ask you several questions so I can determine what you are looking for. I need to know if you know the price range that you want to be in? Have you talked to a lender to get some ideas as to the numbers? Where would you like to be? Once I know this I can give you some of the better ideas and guide you through finding the best possible choice.
As a real estate agent I get paid by the seller a commission for selling you the property. Our function is to take your ideas and needs and then to come up with a plan to find you that unit. I will then give you the pluses and minuses of each of the units that we see. My take is always on the value and ease of reselling the unit that you buy.
The smart starting plan is to get qualified for a loan or at least know the numbers as to your note, taxes and condo fees. This is the best way as then you know what your options are. This is a great first step.
The next step is to get a feel for the area or areas that your interest lies. I have seen thecomplexes and hundreds of condos before so I can guide you once I know the type of unit that you would like. I can e-mail you the selections so you can get some ideas. We should then talk about the units and sit down and go over the process. Its your time to ask questions and my time to listen to your needs. The next step is to begin viewing your favorites and the ones that I think are good buys that meet your criteria.
I can then set you up to see all the new listings that are going to be coming on the market. This is a good time to get an idea of the past sales so to give you an idea of pricing and what the history is in the area. You of course are going to rule some out for various reasons. Best to rank the units as you look at them and take some notes. Each unit will have its positives and negatives. This is the search that leads to writting an offer. Recent articles that tie into this post: Interest Rates Drop, New Orleans- A Buyers Market, To Buy or Rent is a great question?