Are you looking to buy your new home in DuBois? Hoffer Realty Associates can help.
Buying a home can be stressful for a lot of people, but it isn't all that confusing with a little planning ahead of time.
So they understand exactly what they can expect, I like to give buyers an overview of the entire deal.
Here are my nine steps to buying a home.
If you have questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are many things you need to contemplate prior to beginning your home search.
It's likely that you'll want to assemble an index of items you want, get a feeling for what school districts you'd like to live in, and begin planning around your budget.
A good rule of thumb to follow is that your mortgage payment should be close to 1/3 of your monthly income.
Step 2 – Connect with a real estate agent
This is where Hoffer Realty Associates comes in.
We'll schedule a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss neighborhoods, schools in the DuBois area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future.
I can also help you get started on your loan.
I partner with some of DuBois's best mortgage professionals, so you're in great hands.
They will assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Begin your search
Following our first meeting, I'll begin looking for homes on the market that are great for you.
I'll get a sneak peek of many of the homes and throw out the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
As we tour homes, I'll show you the positive features, as well as negative ones. And I'll ask you to tell us about things you like and dislike.
It's pretty common for buyers to update their wish list as we tour homes and some things become more necessary than others.
If that's the situation, I'll search the listings another time and trim it down to the home you've been waiting for.
Step 4 – Understand the market
Your agent's awareness of the DuBois market is a crucial agent in your house search. And I assure you I'm conscious of all the neighborhoods and school districts, and I can alert you to which neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for careful consideration.
As we view houses, I'll be sure to tell you when the seller's asking price has room for bargaining and when I think the home is "priced to sell."
Be on guard and be sure to ask your agent lots of questions, as any real estate agent in DuBois will tell you they 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'd be more than happy to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find your dream house in the DuBois area, and when we do, I'll thoroughly create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
When sending in your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property. The amount is most often applied to the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer – it's widely common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and go on.
The state of the market will play a role in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll formulate a contract that works well for you.
Step 7 – Secure financing
After the deal is complete, you'll start working with your lender to close the loan.
This won't take very long at all if you're already pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of taking your loan application.
This estimate is formed from the loan amount. RESPA requirements require that it has to contain all closing costs and be within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you call me at 8143712100 or e-mail me at .