Contemplating buying your new home in DuBois? Hoffer Realty Associates can help.
Purchasing a home can be stressful for many people, but it isn't all that difficult with a bit of up-front planning.
So they'll understand exactly what to expect, I like to provide buyers with a road map of the whole deal.
These are my nine steps to buying a home.
If you have questions regarding any of this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Before you begin your home search, there are a lot of things you'll want to do.
When you begin your search, you'll probably want to form an outline of features you want, plan for what school districts and neighborhoods you'd like to live in, and start planning around your budget.
A good guideline to adhere to is that your mortgage payment should be 1/3 of your monthly income.
Step 2 – Get in touch with a real estate agent in DuBois
This is where Hoffer Realty Associates comes in.
We'll schedule a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the DuBois area.
I'll also help you get started on your loan.
Hoffer Realty Associates works with some of the best mortgage professionals in DuBois, so you can rest assured that you're in great hands.
They can help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After we meet, I'll start searching for houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we view the houses, I'll point out good features, as well as bad ones. I'll also ask you to talk about things you like and don't like.
Most often, buyers amend their wish list as we view houses and some features become far more crucial than others.
If that's the situation, I'll look through all the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My knowledge of the DuBois market is a leading aspect in your home search. I am mindful of all the neighborhoods and school districts, and I'll communicate what districts are "hot" and require immediate action and some that are "cool" and allow for more examination.
When we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell."
Any real estate agent will convince you they understand the housing market, but be careful, and be sure to ask your agent a lot of questions.
If things don't add up, call me at 8143712100 or e-mail me at , and I'll be happy to answer any questions you might have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream house
I'm positive we'll find the house of your dreams in the DuBois area. When that happens, I'll meticulously create your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are obtaining financing, completing the inspection, and a clean title.
When we present your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property. The amount is often put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the beginning offer, and it's very common to receive a counter offer. But don't let this alarm you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing constraints. And at the end of the day, we'll create a deal that is best for you.
Step 7 – Get a loan
Upon finalizing the contract, you'll start working with your lender to close the loan.
If you're pre-qualified, this shouldn't take much time at all, but you'll need to keep in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) outlining your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will most likely be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 8143712100 or e-mail me at .