Buying or selling a home?
Buying a home can be stressful for many people, but it's not too complicated with some planning ahead of time.
I like to give buyers a road map of the whole deal so they'll understand exactly what they can expect.
These are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Get ready to purchase a home
There are many things you need to take into account prior to beginning your home search.
It's likely that you'll want to create a checklist of features you want, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good principle to adhere to.
Step 2 – Get in touch with a real estate agent
This is where Hoffer Realty Associates comes in.
We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, schools in the DuBois area, the mortgage industry, and any other economic factors that might affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some excellent mortgage professionals in DuBois, and I work with a lot of them, so you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a home
After our first meeting, I'll start looking for homes on the market that are good for you.
I'll get a sneak peek of most of the homes and eliminate the duds, and then we'll set up appointments to tour the houses at a time that's convenient for you.
When we tour houses, I'll identify good features and bad ones. I'll also ask you what things you like and don't like.
Usually, buyers amend their list of must-haves as we view homes and some features become far more substantial than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the house you've been wishing for.
Step 4 – Understand the market
An agent's understanding of the DuBois market is a leading component in your house search. And I can assure you I'm informed of all the neighborhoods and school districts, and I'll communicate which neighborhoods are "hot" and require prompt action and some that are "cool" and allow for careful consideration.
As we tour houses, I'll make sure to communicate when the asking price has room for negotiation and also when I think the house is "priced to sell."
Trust your instincts and be sure to ask your agent lots of questions, as every REALTOR in DuBois will claim to comprehend the home market.
If it seems like they don't know everything, contact me at 8143712100 or e-mail me at , and I'd be glad to answer any questions you might have. My market expertise will keep you a step above the rest through the entire deal.
Step 5 – Find your dream house
We'll find your dream home in the DuBois area, and when we do, I'll thoroughly create your purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, finishing the inspection, and a clear title.
When we submit your purchase offer, you'll likely 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 often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the beginning offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Obtain a loan
Once we sign the final contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all. But you need to keep in close contact with your mortgage lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) of closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a close range of accuracy. I'll review the estimate and let you know if it all looks good.
Then we'll close on your home. This will probably take place at a title company or escrow office and will most often be a smooth and stress-free affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to contact me at 8143712100 or e-mail me at .