Blog Layout

A Home Closing Checklist for Homebuyers

Louisiana REALTORS® • November 26, 2024

On the long and exciting journey to home ownership, there are a lot of things to do. From finding that perfect house in the ideal location for schools, commuting, and other conveniences to envisioning how you’ll decorate, renovate, and enjoy your new place, it can seem like quite a long time. Still, there is a finish line: the closing. 


Getting to the closing table is the final step before your home officially becomes your home. However, before sitting down to sign, initial, and collect your keys, there are a few things you’ll want to do to ensure a smooth, easy home closing.


Take a Final Walk Through

In many instances, you’ll be able to take a final walk-through. This allows you to make sure that the house is in the agreed-upon condition that is stated in the sales agreement. You’ll also be able to confirm that any repairs or other contingencies have been made and met.


Ensure All Contingencies Have Been Addressed

Speaking of contingencies, make sure that these common ones have all been made to your satisfaction. 


Home Inspection Contingency

Every buyer should have a professional home inspection done before they agree to purchase. Any findings should be addressed as part of the purchase agreement. A home inspection typically costs a few hundred dollars but could end up saving you thousands in future repairs. 


Appraisal Contingency

This contingency is done by a third party hired by your lender. The purpose of this appraisal contingency is to determine and evaluate the fair market value of the home you are considering. If the appraisal comes back with a value lower than the sale price, you would be able to get out of the deal without forfeiting any money.


Financing Contingency

This contingency allows you to have the right to back out of a purchase if your mortgage arrangement falls through. From the time you agree to purchase, you’ll have a specified amount of time to arrange funding. This is why it is an excellent idea to get pre-approved before you begin the house-buying process.


Prepare the Following Documents

The following items will be needed at your closing:

  • Proof of homeowner’s insurance
  • A copy of your purchase agreement
  • Your home inspection reports
  • Any paperwork that your lender requires
  • A government-issued photo ID


The most important step in finding the perfect home is finding a great REALTOR®.

HOMEBUYING INFORMATION

Consumer Guide Update: Preparing for Homeownership

By Louisiana REALTORS® • February 19, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on preparing for homeownership. This guide covers what prospective buyers should consider as they kick off the home purchase process, including the importance of credit scores, mortgage pre-approval, down payments, budgeting, and educational resources. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Preparing for Homeownership Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with potential clients to ensure they have the information they need to be successful in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property taxes.

Consumer Guide Update: Escrow and Earnest Money

By Louisiana REALTORS® • February 14, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on escrow. This guide covers what homebuyers should know about earnest money deposits, including the general terms and use cases in real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Flood Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover preparing prospective buyers for homeownership.

2026 LR Officer Elections, RVPs & NAR Director Applications

By Louisiana REALTORS® • February 12, 2025
The Louisiana REALTORS® Board of Directors will conduct several elections this Spring. Interested candidates that meet the qualification who are looking to serve at either the state association level or the national association level are encouraged to view the criteria and submit an application. An application that is not submitted on the appropriate form or not submitted pursuant to the instructions shall not be considered as submitted timely.
Show More
Share by: