Are you contemplating buying a new home in Oil City?

For many people, buying a home can be an intimidating event. However, with a little up-front planning, it isn't very hard. So they'll know exactly what to expect, I will furnish buyers with an outline of the entire deal. These are my nine steps to purchasing a home. Should you have any questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to purchase
There are a lot of things you'll want to contemplate before beginning your home search. When you start your search, you'll want to put together an index of features you need, get an idea of what school districts and neighborhoods you want to live in, and start planning your budget. A good rule of thumb to follow is that your mortgage payment should be no more than a third of your monthly income.

Step 2 – Speak with a real estate agent in Oil City
This is where I come in. I'd be more than happy to plan a time to meet with you and communicate with you about why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, schools in the Oil City area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.

In addition, I'll help you start the loan process. Oil Region Realty, LLC works with some of the best mortgage professionals in Oil City, so you're in great hands. They can assist you in figuring out which type of loan is best for you and help you get approved.

Step 3 – Begin your search
After our initial meeting, I'll begin finding houses on the market that are great for you. I'll get a sneak peek of many of the houses and exclude the bad ones, and then we'll book appointments to tour the homes whenever it's most convenient for you.

When we tour the houses, I'll call attention to good features, as well as bad ones. I'll also ask you to talk about things you like and dislike. It's pretty common for buyers to change their wish list as we tour houses and some items become more essential than others. If that's the case, I'll go back through the listings another time and trim it down to the home you've been waiting for.

Step 4 – Know the housing market
My understanding of the Oil City home market is an imperative aspect in your home search. I'm conscious of all the neighborhoods and school districts, and I will let you know some districts are "hot" and require immediate action and the ones that are "cold" and allow for more analysis.

When we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I trust the house is "priced to sell." When working with an agent, be careful and be sure to ask plenty of questions, as any REALTOR in Oil City will convince you they truly understand the housing market. If it doesn't seem like they know everything, call me at 8146782326 or e-mail me at , and I'll be glad to answer any questions you might have. My market expertise will keep you a step ahead throughout the entire deal.

Step 5 – Find your dream house
I'm certain we'll find the house of your dreams in Oil City. When we do, I'll meticulously create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as getting financing, carrying out the inspection, and a clear title.

When submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property. The amount is most often applied to the closing costs. If the seller accepts your offer, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.

The state of the market determines how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll create a contract that is best for you.

Step 7 – Obtain financing
Once we sign the final contract, you'll begin working with your lender to close the loan. If you're pre-qualified, this shouldn't take very long at all, but you need to stay in close contact with your lender. And I'll handle all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your loan application. This estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy, and I'll analyze the estimate and let you know if it all looks adequate.

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 relaxed occurrence.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 8146782326 or e-mail me at .