Are you contemplating buying your home in DuBois?
Buying a home intimidates most people, but with a little up-front planning, it's not all that confusing.
I like to furnish buyers with a road map of the entire deal so they understand exactly what to expect.
Below are my nine steps to buying a home.
Should you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you commence your home search, there are a lot of things you should take into account.
When you start your search, you'll want to make a list of items you want to have, get a feel for what school districts you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good rule to follow.
Step 2 – Talk to a real estate agent
This is where I come in.
We'll arrange a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the DuBois area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some great mortgage professionals in DuBois, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start house hunting
Following our first meeting, I'll begin finding available houses on the market that are great for you.
I'll preview most of the homes and ignore the bad ones, and then we'll schedule appointments to tour the houses when it's most convenient for you.
As we view the houses, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and dislike.
As a rule, buyers revise their must-have list as we tour homes and some features become more important than others.
If that's the situation, I'll go back through all the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Know the market
My understanding of the DuBois market is a crucial element in your house search. I am conscious of all the schools and neighborhoods, and I can alert you to some neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for thoughtful consideration.
When we tour homes, I'll be sure to tell you when the list price has room for negotiation and when I think the house is "priced to sell."
Any REALTOR will tell you they understand the market, but take notice, and make sure you ask plenty of questions.
If things don't add up, just call me at 8143712100 or e-mail me at , and I'll be more than happy to answer your questions. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in the DuBois area, and when we do, I'll carefully develop your home purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clear title.
When we present your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property and is usually put towards the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the first offer. It's pretty common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your financing budget. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Secure a loan
Upon finishing the contract, you'll start working with your lender to close the loan.
If you've been pre-approved, this shouldn't take very long at all. However, you need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
The estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and fall within a tight range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will probably happen at a title company or escrow office and will probably be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, be sure to contact me at 8143712100 or e-mail me at .