Let Oil Region Realty, LLC assist you in buying your home in Oil City

Purchasing a home is an intimidating event for most people, but it isn't that complicated with a little up-front planning. I like to provide buyers with an overview of the whole deal so they understand exactly what to expect. Here are my nine steps to purchasing a home. Should you have any questions regarding any of 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
Before you begin searching for a home, there are plenty of things you need to do. You'll most likely want to create a checklist of items you want to have, get a feeling for what school districts and neighborhoods you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good rule to go by.

Step 2 – Get in touch with a real estate agent in Oil City
This is where Oil Region Realty, LLC can help. I'd like to schedule a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future. We'll talk about neighborhoods, school districts in the Oil City area, the mortgage and housing industries, and any additional economic factors that might affect your buying decision today or in the future.

In addition, I'll help you start the loan process. There are some great mortgage professionals in Oil City, and I work with a lot of them, so you'll be in great hands. They will help you decide which type of loan is best for you, as well as help you get approved.

Step 3 – Begin looking for a house
After we meet, I'll start finding homes on the market that suit your needs. I'll research most of the homes and reject the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.

As we view houses, I'll identify good features, as well as negative ones. And I'll ask you about things you like and dislike. Generally, buyers amend their list of must-haves as we tour homes and some features become more important than others. If that happens, I'll go back through the listings once again and narrow it down to the home you've been wishing for.

Step 4 – Comprehend the housing market
My awareness of the Oil City home market is a leading aspect in your house search. I'm informed of all the neighborhoods and school districts, and I'll communicate what neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for thoughtful examination.

As we view houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be on guard and be sure to ask lots of questions. Every REALTOR in Oil City will tell you they truly know the housing market. If things don't add up, call me at (814) 677-2326 or e-mail me at , and I'll be glad to answer any questions you might have. My understanding of the market will keep you a step above the rest throughout the entire process.

Step 5 – Find your dream house
We'll find your dream home in Oil City, and when that happens, I'll precisely create your home purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, completing the home inspection, and a clear title.

When we send in your offer, you'll probably need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property, and it's usually applied to the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

The state of the market will play a vital role in how aggressively we negotiate the contract. We'll also work within your financing constraints. And at the end of the day, we'll formulate a deal that's best for you.

Step 7 – Obtain a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan. If you're pre-approved, it shouldn't be a long process at all. But you'll need to keep in close contact with your mortgage lender. And I'll manage all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your application. The estimate is based on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy, and I'll examine the estimate and let you know if it all looks good.

Then it's time to close on your house. This will likely take place at a title company or escrow office and is often a smooth and easygoing occurrence.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call me at (814) 677-2326 or e-mail me at .

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