Purchasing your home in DuBois with Coldwell Banker Developac RealtyPurchasing a home intimidates most people, but with some planning ahead of time, it isn't very hard. So you'll understand exactly what to expect, I like to furnish my buyers with an outline of the whole deal. Below are my nine steps to buying a home.
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Step 1 – Get ready to purchase
Before you start looking for a home, there are several things you'll want to consider. You'll most likely want to make a checklist of items you want to have, get an idea of what neighborhoods you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than a third of your monthly income is a good rule to follow.
Step 2 – Get in touch with a real estate agent in DuBois
That's where I can help. I'd like to arrange a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, school districts in the DuBois area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I can also help you get started on your loan. Coldwell Banker Developac Realty partners with some of DuBois's best mortgage professionals, so you're in great hands. They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
Following our initial meeting, I'll begin searching for houses on the market that suit your needs. I'll get a sneak peek of most of the homes and exclude the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.
When we view houses, I'll show you the positive features, as well as negative ones. I'll even ask you to tell me about things you like and don't like. Oftentimes, buyers change their wish list as we view houses and some items become more essential than others. If such is the case, I'll look through all the listings again and trim it down to the home of your dreams.
Step 4 – Get a grasp of the housing market
An agent's awareness of the DuBois market is a crucial factor in your home search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I can let you know certain districts are "hot" and require prompt action and the others that are "cool" and allow for careful analysis.
When we tour houses, I'll let you know when the list price has room for negotiation and also when I think the house is "priced to sell."
Every REALTOR® will claim to truly understand the market, but keep an eye out, and be sure to ask your agent lots of questions.
If it doesn't seem like they know everything, just call me at 814-375-1167 or e-mail me at email@example.com, and I'll be glad to answer any questions you might have. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find your dream house
I'm sure we'll find the house of your dreams in DuBois, and when that happens, I'll meticulously create your real estate purchase offer. The offer will be tailored to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
When we turn in your offer, you'll probably want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's usually applied to the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer – it's really common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract. We'll also work within your financing limits. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Obtain your loan
Once the deal is finished, you'll begin working with your lender to close the loan. This won't take long at all if you're pre-qualified, but you should to stay in close contact with your lender. And I'll care for all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of receiving your loan application. This estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a tight range of accuracy, and I'll review the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This should occur at a title company or escrow office and will most likely be a smooth and stress-free occurrence.
Step 9 – Move in
You made it! Now you can move into your new house. Enjoy it. And if you have any questions, simply contact me at 814-375-1167 or send me an e-mail.