Buying or selling a home?

Purchasing a home can be stressful for most people, but with some planning ahead of time, it isn't too complex. So they'll understand exactly what to expect, I'll give buyers an overview of the entire deal. Below are my nine steps to purchasing a home. If you have questions regarding this information or if you're prepared to get started, you can contact me here or e-mail me at .

Step 1 – Get ready to purchase
There are a lot of things you should contemplate prior to beginning your home search. When you start your search, you'll probably want to form a check list of items you need to have, get a feeling for what school districts and neighborhoods you want to live in, and begin working on your budget. Ensuring your mortgage payment is less than or around a third of your monthly income is a good rule of thumb to adhere to.

Step 2 – Contact a real estate agent in Oil City
This is where Oil Region Realty, LLC comes in. We can plan 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 discuss the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Oil City area.

I'll also assist you in getting started on your loan. There are some great mortgage professionals in Oil City, and I work with a lot of them, so you're in great hands. They can help you determine which type of loan is best for you, as well as help you get approved.

Step 3 – Start looking for a home
After our initial meeting, I'll begin searching for homes on the market that suit your needs. I'll preview most of the homes and throw out the duds, and then we'll set up appointments to tour the houses whenever it's most convenient for you.

As we tour homes, I'll show you the positive features, as well as negative ones. And I'll ask you about things you like and don't like. Usually, buyers amend their wish list as we view homes and some items become far more crucial than others. If that happens, I'll search the listings once again and narrow it down to the home you've been wishing for.

Step 4 – Comprehend the market
My awareness of the Oil City housing market is an essential element in your house search. I am acquainted with all the school districts and neighborhoods, and I'll communicate certain districts are "hot" and demand immediate action and the ones that are "cold" and allow for thoughtful examination.

As we view homes, I'll be sure to tell you when the asking price has room for negotiation and also when I know the home is "priced to sell." When working with an agent, be on guard and make sure you ask lots of questions, as every real estate agent will tell you they know the home market. If things don't add up, call me at (814) 677-2326 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will help you stay a step above the rest through the entire process.

Step 5 – Find the house of your dreams
I'm certain we'll find the home of your dreams in Oil City. When we do, I'll carefully develop your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as getting financing, carrying out the home inspection, and a clear title.

When turning in your offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property, and it's most often put towards the closing costs. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the first offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.

The state of the market will play a large role in how aggressively we negotiate the contract. In addition, we'll work within your financing budget. And when it's all said and done, we'll compose a deal that's best for you.

Step 7 – Secure a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan. This shouldn't be a long process at all if you've been pre-qualified, but you'll need to keep in close contact with your lender. And I'll look after all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of receiving your loan application. The estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and fall within a precise range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.

Then we'll close on your home. This should take place at a title company or escrow office and is often a smooth and stress-free affair.

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 call me at (814) 677-2326 or e-mail me at .

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