Buying a new home in DuBois
Buying a home is an intimidating event for many people. However, with a bit of up-front planning, it isn't that difficult.
So they know exactly what to expect, I like to furnish buyers with an overview of the entire deal.
Below are my nine steps to purchasing a home.
Should you have questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
There are several things you should do before starting your home search.
When you start your search, you'll want to form a checklist of items you need to have, plan for what neighborhoods and school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent in DuBois
That's where I come in.
We'll arrange a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the DuBois area, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some excellent mortgage professionals in DuBois, and I work with a lot of them, so you're in great hands.
They'll help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a home
After we meet, I'll begin finding available houses on the market that best suit you.
I'll get a sneak peek of many of the houses and remove the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
When we view the houses, I'll identify good features and negative ones. I'll even ask you to point out what things you like and don't like.
As a rule, buyers revise their must-have list as we view homes and some things become far more necessary than others.
If that's the case, I'll go back through all the listings once more and trim it down to the home you've been wishing for.
Step 4 – Comprehend the market
An agent's awareness of the DuBois housing market is a fundamental aspect in your house search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I'll alert you to some neighborhoods are "hot" and warrant immediate action and others that are "cold" and allow for more examination.
As we view homes, I'll let you know if the list price has room for bargaining or if I believe the house is "priced to sell."
Be mindful and be sure to ask a lot of questions, as any real estate agent in DuBois will tell you they comprehend the market.
If it appears they don't know everything, just call me at (814) 371-2100 or e-mail me at , and I'll be more than happy to answer any questions you might have. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in the DuBois area, and when that happens, I'll precisely develop your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as obtaining financing, carrying out the home inspection, and a clean title.
When presenting your offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property, and it's usually put towards the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the first offer, and it's pretty common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Secure financing
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all. However, you'll need to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of receiving your application.
This estimate is formed from the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your house. This will probably happen at a title company or escrow office and will most often be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you call me at (814) 371-2100 or e-mail me at .