Purchasing your home in DuBois
Buying a home is intimidating for many people, but it isn't all that complex with a bit of up-front planning.
I like to supply buyers with a road map of the whole deal so they know exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have regarding this information.
Step 1 – Prepare to buy
Before you start looking for a home, there are a lot of things you need to contemplate.
You'll probably want to make an outline of items you want, get an idea of what neighborhoods and school districts you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is less than a third of your monthly income is a good rule to go by.
Step 2 – Communicate with a real estate agent in DuBois
This is where I come in.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the DuBois area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
Hoffer Realty Associates partners with some of the best mortgage professionals in DuBois, so you can rest assured that you're in great hands.
They will assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Start looking for a house
After we meet, I'll begin finding houses on the market that are good for you.
I'll research many of the homes and throw out the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we view the houses, I'll call attention to positive features, as well as bad ones. I'll also ask you what things you like and don't like.
Most often, buyers change their list of must-haves as we view houses and some items become more crucial than others.
If that's the situation, I'll look through all the listings once again and narrow it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's understanding of the DuBois housing market is an essential factor in your house search. And I can assure you I'm familiar with all the schools and neighborhoods, and I can communicate some neighborhoods are "hot" and require prompt action and the ones that are "cool" and allow for cautiousness.
When we tour homes, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Every REALTOR in DuBois will tell you they understand the housing market, but beware, and be sure to ask your agent 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 any questions you might have. My understanding of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream home
I'm sure we'll find your dream house in the DuBois area. When we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are getting financing, finishing the inspection, and a clear title.
When turning in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property and is often applied to the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market conditions will play a large role in how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Obtain financing
Upon completing the contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, it shouldn't be a long process at all. But you'll want to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of receiving your application.
This estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will likely take place at a title company or escrow office and is often a smooth and comfortable affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply contact me at 8143712100 or e-mail me at .