Purchasing your home in Oil City?

With some planning ahead of time, buying a home isn't that difficult, but the event is intimidating for a lot of people. I like to provide buyers with a road map of the whole deal so they'll understand exactly what they can expect. Here are my nine steps to buying a home. If you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to purchase a home
There are plenty of things you need to do before starting your home search. It's likely that you'll want to assemble a checklist of items you want, plan for what neighborhoods and school districts you'd like to live in, and start working on your budget. A good rule to follow is that your mortgage payment should be around 1/3 of your monthly income.

Step 2 – Communicate with a real estate agent in Oil City
That's where I come in. We can arrange a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll discuss everything from neighborhoods, school districts 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 facilitate the loan process. There are some excellent mortgage professionals in Oil City, and I partner with a lot of them, so you can rest assured that you're in great hands. They will assist you in choosing which kind of loan is best for you and help you get qualified.

Step 3 – Begin your search
After we meet for the first time, I'll start finding available houses on the market that suit your needs. I'll get a sneak peek of many of the homes and exclude the duds, and then we'll book appointments to tour the homes when it's convenient for you.

When we view the houses, I'll identify good features and negative ones. And I'll ask you to tell us about things you like and dislike. It's pretty common for buyers to amend their list of must-haves as we view homes and some items become more essential than others. If that happens, I'll search all the listings one more time and trim it down to the house you've been wishing for.

Step 4 – Comprehend the housing market
My knowledge of the Oil City housing market is an imperative agent in your home search. I'm acquainted with all the neighborhoods and school districts, and I can let you know what districts are "hot" and demand immediate action and others that are "cool" and allow for thoughtful analysis.

When we view homes, I'll make sure to communicate when the list price has room for negotiation and when I trust the home is "priced to sell." Be on guard and make sure you ask lots of questions, as any real estate agent will claim to know the home market. If it doesn't seem like they know everything, contact me at (814) 677-2326 or e-mail me at , and I'd be more than happy to answer any questions you may have. My understanding of the market will help you stay a step above the rest throughout the entire process.

Step 5 – Find the house of your dreams
We'll find your dream house in the Oil City area, and when that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.

When we send in your offer, you'll want to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to buy the property, and it's typically applied to the closing costs. If the offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer – it's extremely common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your financing constraints. And when it's all said and done, we'll put together a contract that works well for you.

Step 7 – Get a loan
Once the contract is signed, you'll start working with your lender to close the loan. If you're pre-qualified, this won't take long at all, but you'll want to stay in close contact with your lender. And I'll handle all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your application. This estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a close range of accuracy, and I'll go over the estimate and let you know if it all looks okay.

Then it's time to close on your house. This will likely happen at a title company or escrow office and will likely be a smooth and comfortable affair.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you contact me at (814) 677-2326 or e-mail me at .

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