Contemplating purchasing a new home in DuBois?
Buying a home is a stressful event for many people, but it isn't very difficult with some planning ahead of time.
I like to give buyers a road map of the whole deal so they understand exactly what to expect.
These are my nine steps to buying a home.
If you have questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are plenty of things you'll want to consider before commencing your home search.
When you start your search, you'll want to form a list of must-haves, get a feeling for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than or around 30 percent of your monthly income is a good rule of thumb to follow.
Step 2 – Connect with a real estate agent in DuBois
This is where Hoffer Realty Associates can help.
We'll plan 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 talk about neighborhoods, school districts in the DuBois area, the mortgage industry, and any additional economic factors that may potentially affect your buying decision today or in the future.
I can also help you facilitate the loan process.
Hoffer Realty Associates partners with some of the finest mortgage professionals in DuBois, so you can rest assured that you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
Following our first meeting, I'll begin searching for available homes on the market that are great for you.
I'll get a sneak peek of most of the homes and reject the duds, and then we'll book appointments to view the houses whenever it's convenient for you.
As we view the houses, I'll show you the good features and bad ones. And I'll ask you to tell us about things you like and don't like.
Generally, buyers amend their must-have list as we tour homes and some features become far more essential than others.
If that's the situation, I'll look through all the listings once again and trim it down to the house of your dreams.
Step 4 – Know the housing market
My understanding of the DuBois market is an imperative factor in your house search. I'm mindful of all the schools and neighborhoods, and I can alert you to what neighborhoods are "hot" and warrant prompt action and some that are "cool" and allow for thoughtful analysis.
When we tour houses, I'll make sure to communicate when the seller's list price has room for negotiation and when I think the home is "priced to sell."
Be mindful and be sure to ask lots of questions, as every REALTOR will tell you they truly know the market.
If things don't add up, just call me at 8143712100 or e-mail me at , and I'd be happy to answer your questions. My knowledge of the market will keep you a step above the rest through the entire process.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the home of your dreams in DuBois. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are obtaining financing, completing the home inspection, and a clean title.
When we turn in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property, and it's most often put towards the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer. It's very common to receive a counter offer. But don't let it discourage you. We'll talk about whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Obtain financing
Once we sign the final deal, you'll start working with your lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all, but you'll need to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
This estimate rests on the loan amount. RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will most likely occur at a title company or escrow office and will most often be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, just contact me at 8143712100 or e-mail me at .