Are you contemplating purchasing a new home in DuBois?
For a lot of people, purchasing a home can be an intimidating event. However, with a bit of planning ahead of time, it's not too hard.
I like to give buyers an overview 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, simply contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Get ready to buy
Before you begin your home search, there are plenty of things you need to do.
It's likely that you'll want to make an index of features you need, plan for what neighborhoods and school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent in DuBois
That's where I can help.
I'd be more than happy to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the DuBois area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in DuBois, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
After our first meeting, I'll start finding houses on the market that are a great fit for you.
I'll get a sneak peek of most of the homes and remove the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
As we tour the homes, I'll show you the positive features, as well as bad ones. I'll even ask you to talk about things you like and dislike.
For the most part, buyers revise their list of must-haves as we tour houses and some things become far more crucial than others.
If such is the case, I'll look through all the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Understand the market
Your agent's awareness of the DuBois market is a crucial component in your home search. And I assure you I'm mindful of all the schools and neighborhoods, and I will alert you to what areas are "hot" and demand prompt action and the ones that are "cool" and allow for cautiousness.
As we view houses, I'll make sure to communicate if the list price has room for bargaining or if I believe the home is "priced to sell."
Trust your instincts and make sure you ask your agent plenty of questions, as any real estate agent will claim to truly understand the home market.
If things don't add up, contact me at 8143712100 or e-mail me at , and I'd be more than happy to answer any questions you have. My understanding of the market will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
We'll find your dream home in DuBois, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
Upon submitting your offer, you'll likely want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property. The amount is usually put towards the closing costs. If your offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer, and it's really common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Get your loan
Once the contract is finalized, you'll start working with your mortgage lender to close the loan.
This shouldn't be a long process at all if you've been pre-approved, but you should to keep in close contact with your lender.
And I'll care for all the property information your mortgage lender will need 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 accepting your application.
This estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks okay.
Then we'll close on your home. This will likely occur at a title company or escrow office and will likely be a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at 8143712100 or e-mail me at .