Contemplating purchasing your home in DuBois?
Buying a home is an intimidating event for a lot of people, but it isn't very complex with a little up-front planning.
So they understand exactly what they can expect, I will provide buyers with an overview of the whole deal.
Below are my nine steps to buying a home.
Should you have questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are plenty of things you should do before beginning your home search.
You'll probably want to form a list of items you want, get a feel for what school districts and neighborhoods you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to a third of your net monthly income is a good principle to adhere to.
Step 2 – Communicate with a real estate agent
That's where I can help.
We can book a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the DuBois area.
In addition, I'll help you get started on your loan.
Hoffer Realty Associates partners with some of the best mortgage professionals in DuBois, so you'll be in great hands.
They can help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a home
Following our first meeting, I'll start looking for houses on the market that best suit you.
I'll research many of the homes and reject the bad ones, and then we'll schedule appointments to tour the houses whenever it's convenient for you.
When we view the houses, I'll identify positive features, as well as negative ones. I'll also ask you about things you like and dislike.
Most often, buyers revise their list of must-haves as we tour homes and some features become more substantial than others.
If such is the case, I'll search the listings once again and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the housing market
My awareness of the DuBois housing market is a crucial factor in your house search. I am mindful of all the neighborhoods and school districts, and I can let you know what areas are "hot" and call for prompt action and others that are "cold" and allow for cautiousness.
When we view houses, I'll let you know when the list price has room for bargaining and when I trust the home is "priced to sell."
Every REALTOR will claim to truly know the home market, but beware, and be sure to ask your agent a lot of questions.
If things don't add up, call me at (814) 371-2100 or e-mail me at , and I'll be glad to answer your questions. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream house in DuBois, and when that happens, I'll carefully develop your purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as getting financing, completing the home inspection, and a clear title.
Upon turning in your offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property. The amount is most often applied to the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's really common to receive a counter offer. Don't let it alarm you. We'll figure out whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll formulate a deal that works well for you.
Step 7 – Obtain a loan
After we sign the final sales contract, you'll start working with your lender to close the loan.
If you've been pre-qualified, this won't take much time at all, but you'll want to keep in close contact with your lender.
And I'll take care of 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 taking your loan application.
The estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a tight range of accuracy, and I'll examine the estimate and let you know if everything looks all right.
Then we'll close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and relaxing event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at (814) 371-2100 or e-mail me at .