Buying

Buying a Home

For most people, buying a home is one of the largest financial investments they will ever make. It is often the culmination of years of careful saving and planning. Though that can make the process seem intimidating, it should never be frightening with the right support team. Michael Gailliot Homes prides itself on being that support team and providing a platform where homebuyers and real estate agents can join together for the smoothest possible selling and buying experience.

Ultimately, the team at Michael Gailliot Homes believes that falling in love with the perfect home should be exciting, not frightening. As listing agents we are here to guide you through the twists and turns of this sometimes difficult process. With 20+ years in the industry, we will make sure that all the details, small and large, are handled professionally, ensuring you have a stress-free experience. Contact us today!

Whether you are expanding to accommodate a growing family, downsizing because of a life transition, or buying your first home, our real estate experts will walk you through every step of the buying and selling process. The Michael Gailliot Homes team will be able to guide you in everything from setting a comfortable budget to finding just the right features in your future home.

We will use our experience to pinpoint a buyer’s priorities and tailor the house search to them, such as finding a home in the best local school districts or researching crime stats. We can tell you what areas are up-and-coming and, therefore, the best long-term investment, which neighborhoods fall into airport flight paths, and so much more than a solo home visit would not reveal. Every individual and family is different, with different needs, and we are cautious to keep those unique needs in mind when searching for and suggesting potential homes.

The Home Buying Experience 

Our buyers will benefit from the many years of selling experience that Michael Gailliot Homes brings to the table. From solid pricing suggestions, expert staging, and advice on what should be updated or repaired versus what can be left as-is, the home will be primed and polished before hitting the market, readying it to get top dollar. Through our relationships with other local real estate agents and a strong social media presence, we ensure that homes listed through us have eyes on them and receive plenty of attention from day one.

From the first bid to the last inspection, our team of listing agents will be able to guide you through the sometimes convoluted process that is closing on a home. We will be able to connect you with the best home inspectors, loan professionals, and other essential services and will always negotiate for the best initial price as well as the most closing credits on your behalf.

Michael Gailliot Homes prides itself in providing a wide range of excellent residential options tailored specifically to each client and treating your hard-earned money as carefully as we would our own through our expert advice and excellent customer service. As experts in the market, we will always let you know if a bid is fair or a credit request is reasonable, and make sure you get the most for your money, whether you are buying or selling. Click here to see our property listings!

HOME BUYING FAQS

Should I buy or continue to rent?

Buying a home can be a confusing process for anyone. Buying and renting has its own pros and cons. The benefits of buying a house rather than renting a house or apartment include tax benefits as well as the freedom to make decisions about your home. Aside from that, you can also take advantage of capital gains, equity, financial gains, appreciation value, and more.

When you buy a home, you are investing in your own future. If you’ve got a savings plan in order that is allowing you to pay down debt and save a little nest egg, you could be ready for the financial side of home ownership. Buying a home is a great option in many cases, but not always.

How much do I need for a down payment?

The answer may surprise you, it’s no longer 20%. Lenders expect between 5% to 20% for a down payment. It varies according to the lender’s requirements, and the type and length of the loan. Some home loans such as VA home loans even can be done with 0% down! Remember never rule yourself out and always talk to a professional. Make a budget, set a goal, and stick with the plan.

Is a low offer a good idea?

While your low offer in a normal market might be rejected immediately, in a buyer’s market a motivated seller will either accept or make a counteroffer. A counteroffer is an offer made by one party that makes changes to the original offer of the other party. Any time a counteroffer is made it cancels the obligation to the previous offer. Full-price offers or above are more likely to be accepted by the seller.
Can I buy a home and sell my current one at the same time?
Yes. To help make the transition between selling and buying as smooth as possible, it’s best that you ask professional assistance from realtors, such as Michael Gailliot. In order to avoid any issues, though, selling your house prior to buying a new one if preferable.

How long does it take to buy a house?

Longer than you think. This is not an easy question to answer because every home sale is truly different. After you finally find a home you want to buy and your offer is accepted, it can typically take 30 – 45 days to close on your loan. So, if it takes 4 months to find a home you like, it will take probably another 2 months to close. On closing day, both buying and selling parties meet to sign final documents and hand over the keys.

What is pre-qualifying versus pre-approval?

Getting pre-qualified for a mortgage gives first-time homebuyers an indication of how much they “might” qualify to borrow. This is a quick way to know what price range you should be looking in. However, the mortgage amount is not guaranteed because no information has yet been verified. This is not as strong as a pre approval.

On the other hand, pre-approval means a financial institution has agreed to work with you and has taken a thorough look through your finances. If you’re pre-approved, it means that you have undergone the extensive financial background check, which includes looking at your credit history, previous tax returns and verifying your employment – and the lender is willing to give you a loan, basically meaning you’re approved!

Should I get a home inspection?

Yes. Experts like Michael Gailliot strongly recommend getting a home inspection in order to get a real scoop of the homes you’re looking at. Disclosure laws vary by state, but in some states, the law requires the seller to complete a real estate transfer disclosure statement.

A good inspector will test everything from electrical, plumbing, check the roof for leaks, check for moisture in the home. In addition, they will make sure the furnace and appliances are running properly, inspect the foundation if accessible and make sure that everything is up to code along with many other tests they complete. This will help you identify if there are any improvements you may need to to do and assess the value of the house.

Do I really need a Realtor when buying a home?

When a first-time homebuyer is looking to purchase a home, it is important to realize that a monthly mortgage payment does not cover all of the monthly expenses that go along with home ownership. In this matter, a realtor would be beneficial. Not only have realtors received training to help buyers, but they’re also up-to-date on current market conditions, real estate procedures and the closing process.

In addition, a realtor is happy to represent a buyer while making an initial offer, negotiating on price and at any other time during the home-buying process. Thus, seeking a realtor’s help, like Michael Gailliot, can make the home buying process easier and more convenient for you.

Who pays the Realtor fees when buying a home?

Home buyers are always curious regarding who pays the realtor. Normally, the seller pays the Realtor’s fees, since there is a contract between seller and agent. When a seller lists their home, they include a cooperating compensation to pay the buyer’s agent to bring an offer. So, when the seller pays all the Realtor’s fees associated with selling the home, the seller pays the Realtor’s brokerage and the brokerage distributes the earned commission to all the parties involved which generally includes the buyer’s agent.

How do I get the best mortgage?

It is time consuming to learn about the various rates and terms of mortgages. Once you find your dream home, there is not always adequate enough time to do your research. You should see as many as you need to ensure you find the perfect home. On average, home buyers will look at hundreds of homes online but will see 10 homes in person before writing an offer.

With the help of a realtor like Michael Gailliot, he will check houses recently sold in the area that are similar to the one you are buying to ensure you are paying a fair price.

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©2019 BRIGHT, All Right Reserved. Information deemed rele but not guaranteed. The data relating to real estate for sale o this website appears in part through the BRIGHT internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokage firms in which Century 21 New Millennium participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Century 21 New Millennium are marked with the IDX logo and detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties wich appear for sale on this website may no longer be available becuase they are under contract, have Close or are no longer beingt offered for sale. Some real estate firms do not participate in IDX and thier listings do not appear on this website.Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated on 2019-06-07.

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