Buying or selling a home in DuBois?
Buying a home intimidates a lot of people, but it's not that complicated with some planning ahead of time.
So they'll understand exactly what they can expect, I will provide buyers with an outline of the whole deal.
Below are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are plenty of things you'll want to take into account before you start searching for a home.
When you start your search, you'll want to create a list of features you want to have, get a plan of what neighborhoods and school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent
This is where Hoffer Realty Associates can help.
I'd love to plan a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the DuBois area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you begin the loan process.
I partner with some of the finest mortgage professionals in DuBois, so you're in great hands.
They will help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our first meeting, I'll start looking for houses on the market that are a great fit for you.
I'll preview many of the houses and ignore the duds, and then we'll set up appointments to tour the homes at a time that's convenient for you.
When we view the houses, I'll identify positive features and bad ones. And I'll ask you what things you like and don't like.
It's common for buyers to amend their wish list as we tour houses and some features become more necessary than others.
If that's the situation, I'll search the listings once more and narrow it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
An agent's awareness of the DuBois housing market is a crucial aspect in your home search. And I assure you I'm informed of all the neighborhoods and schools, and I can alert you to certain areas are "hot" and warrant immediate action and others that are "cool" and allow for more consideration.
When we view houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I trust the home is "priced to sell."
Every real estate agent will convince you they truly know the housing market, but trust your instincts, and make sure you ask your agent a lot of questions.
If it appears they don't know everything, call me at 8143712100 or e-mail me at , and I'll be glad to answer your questions. My understanding of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in the DuBois area, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies. A few examples are getting financing, carrying out the home inspection, and a clear title.
Upon sending in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property, and it's typically applied to the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer, and it's pretty common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a role in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Get a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
This shouldn't take very long at all if you're pre-approved, but you should to stay in close contact with your mortgage lender.
And I'll care for 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) detailing your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your application.
This estimate rests on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if everything looks good.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and is often a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, just contact me at 8143712100 or e-mail me at .