Let Oil Region Realty, LLC assist you with purchasing your new home in Oil City

Purchasing a home is a stressful event for many people. However, with a bit of planning ahead of time, it's not very difficult. I like to provide buyers with an overview of the entire deal so they understand exactly what they can expect. These are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have about this information.

Step 1 – Prepare to buy
There are a lot of things you should do before you look for a home. When you start your search, you'll probably want to assemble a list of features you need, get a feeling for what school districts and neighborhoods you want to live in, and start working on your budget. Keeping your mortgage payment less than a third of your monthly income is a good rule of thumb to adhere to.

Step 2 – Communicate with a real estate agent
That's where I come in. We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Oil City area.

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

Step 3 – Start your search
After we meet for the first time, I'll start finding homes on the market that are good for you. I'll get a sneak peek of many of the houses and exclude the duds, and then we'll set up appointments to tour the houses whenever it's most convenient for you.

When we tour homes, I'll show you the positive features, as well as bad ones. I'll also ask you to talk about things you like and dislike. Most often, buyers update their wish list as we tour houses and some features become more important than others. If that's the situation, I'll look through all the listings again and narrow it down to the home you've been dreaming about.

Step 4 – Comprehend the housing market
An agent's understanding of the Oil City market is a necessary factor in your house search. And I can assure you I'm mindful of all the neighborhoods and school districts, and I can let you know some neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for more examination.

As we view homes, I'll be sure to tell you if the asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be careful and be sure to ask lots of questions, as any real estate agent will claim to understand the housing market. If things don't add up, just call me at 8146782326 or e-mail me at , and I'll be happy to answer any questions you might have. My knowledge of the market will keep you a step above the rest throughout the entire deal.

Step 5 – Find the home you've been looking for
We'll find your dream home in the Oil City area, and when that happens, I'll precisely create your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.

When turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is typically applied to the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate
Most contracts aren't closed on the first offer, and it's pretty common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and go on.

How aggressively we negotiate the contract depends on market circumstances. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a contract that works well for you.

Step 7 – Get your loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan. If you've been pre-approved, this won't be a long process at all. However, you'll want to keep in close contact with your mortgage lender. And I'll deal with all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) detailing your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your application. The estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a close range of accuracy. I'll examine the estimate and let you know if everything looks good.

Then it's time to close on your home. This should take place at a title company or escrow office and will likely be a smooth and stress-free occasion.

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

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