Buying or selling a home in Oil City? Oil Region Realty, LLC can help.

Buying a home is a stressful event for a lot of people, but with some up-front planning, it's not very complicated. I like to give buyers a road map of the entire deal so they'll know exactly what they can expect. These are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have about this information.

Step 1 – Get ready to purchase a home
Prior to beginning your home search, there are plenty of things you'll want to consider. You'll probably want to form an outline of items you want to have, get a plan of what school districts you want to live in, and start planning your budget. A good rule to go by is that your mortgage payment should be around 30 percent of your net monthly income.

Step 2 – Talk to a real estate agent
That's where I come in. We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, school districts in the Oil City area, the mortgage and housing industries, and any other economic factors that might affect your buying decision today or in the future.

In addition, I'll assist you with getting started on your loan. There are some very good mortgage professionals in Oil City, and I work with a lot of them, so you're in great hands. They will assist you in figuring out which kind of loan is best for you and help you get approved.

Step 3 – Start your search
After our initial meeting, I'll begin looking for homes on the market that best suit you. I'll get a sneak peek of most of the homes and throw out the duds, and then we'll set up appointments to view the houses when it's most convenient for you.

When we tour the homes, I'll point out good features and bad ones. I'll even ask you to point out what things you like and dislike. Oftentimes, buyers update their wish list as we view homes and some things become far more important than others. If that happens, I'll look through the listings again and narrow it down to the home of your dreams.

Step 4 – Know the market
My awareness of the Oil City market is a necessary aspect in your house search. I am conscious of all the neighborhoods and school districts, and I'll let you know which areas are "hot" and warrant prompt action and others that are "cool" and allow for careful consideration.

As we tour homes, I'll make sure to communicate when the list price has room for negotiation and also when I know the home is "priced to sell." Be mindful and be sure to ask your agent plenty of questions, as every real estate agent will tell you they truly understand the housing market. If it doesn't seem like they know everything, just call me at 8146782326 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will keep you a step ahead throughout the entire deal.

Step 5 – Find your dream home
We'll find your dream house in Oil City, and when we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as obtaining financing, carrying out the inspection, and a clear title.

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

Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer, and it's pretty common to receive a counter offer. Don't let it discourage you. We'll discuss whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.

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

Step 7 – Obtain your loan
Upon completing the contract, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, this shouldn't be a long process at all. However, you need to keep in close contact with your lender. And I'll look after all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving 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 precise range of accuracy. I'll study the estimate and let you know if it all looks adequate.

Then we'll close on your house. This will likely take place at a title company or escrow office and should be a smooth and peaceful affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you contact me at 8146782326 or e-mail me at .