Purchasing a home in DuBois
With a little planning ahead of time, purchasing a home isn't very difficult, but the event can be stressful for many people.
I like to furnish buyers with a road map of the whole deal so they know exactly what to expect.
Below are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.
Step 1 – Prepare to buy
There are plenty of things you need to contemplate prior to commencing your home search.
You'll most likely want to assemble a checklist of items you want to have, get a feel for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good guideline to follow.
Step 2 – Talk to a real estate agent
This is where I can help.
We'll set up a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the DuBois area, the mortgage and housing industries, and any additional economic factors that could affect your buying decision today or in the future.
I can also help you start the loan process.
Hoffer Realty Associates partners with some of the finest mortgage professionals in DuBois, so you'll be in great hands.
They can assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
Following our initial meeting, I'll start finding houses on the market that are a good fit for you.
I'll get a sneak peek of most of the houses and ignore the duds, and then we'll set up appointments to tour the homes when it's convenient for you.
As we view the houses, I'll identify positive features and negative ones. I'll also ask you to talk about things you like and dislike.
For the most part, buyers amend their wish list as we tour homes and some items become more necessary than others.
If that happens, I'll go back through all the listings once more and trim it down to the house you've been waiting for.
Step 4 – Know the housing market
Your agent's awareness of the DuBois market is a crucial element in your home search. And I assure you I'm acquainted with all the neighborhoods and schools, and I will let you know some neighborhoods are "hot" and require immediate action and the ones that are "cool" and allow for careful analysis.
When we tour houses, I'll be sure to tell you when the asking price has room for bargaining and also when I believe the home is "priced to sell."
Be mindful and be sure to ask your agent plenty of questions, as every real estate agent in DuBois will claim to truly know the housing market.
If it seems like they don't know everything, contact me at 8143712100 or e-mail me at , and I'll be more than happy to answer your questions. My understanding of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm certain we'll find your dream house in DuBois. When we do, I'll thoroughly create your purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as obtaining financing, carrying out the inspection, and a clean title.
When sending in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property and is most often applied to the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the first offer. It's pretty common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market conditions will play a vital role in how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll create a contract that works well for you.
Step 7 – Get financing
Once the contract is finalized, you'll begin working with your lender to close the loan.
This won't be a long process at all if you're pre-approved, but you'll want to stay in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your loan application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a close range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will likely be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at 8143712100 or e-mail me at .