Buying or selling a home?

Buying a home is intimidating for a lot of people, but with a bit of up-front planning, it isn't that complicated. I like to provide buyers with an outline of the entire deal so they'll know exactly what to expect. These are my nine steps to buying a home. Should you have any questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Prepare to purchase
Before you start your home search, there are several things you should consider. You'll want to assemble an index of must-have features, get a feel for what school districts and neighborhoods you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than 30 percent of your net monthly income is a good principle to go by.

Step 2 – Connect with a real estate agent in Oil City
This is where Oil Region Realty, LLC can help. We can set up a time to meet so we can talk about your real estate needs and get an idea of your future plans. We'll talk about everything from neighborhoods, school districts in the Oil City area, the mortgage and housing industries, to any other economic factors that could potentially affect your purchase today or in the future.

In addition, I'll assist you in getting started on your loan. 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 help you choose 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 looking for available homes on the market that are a great fit for you. I'll get a sneak peek of most of the homes and reject the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.

As we tour houses, I'll identify positive features and bad ones. And I'll ask you what things you like and don't like. For the most part, buyers update their must-have list as we view houses and some things become far more important than others. If that happens, I'll go back through the listings one more time and narrow it down to the home of your dreams.

Step 4 – Get a grasp of the market
Your agent's knowledge of the Oil City housing market is an imperative agent in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I can alert you to some areas are "hot" and demand prompt action and others that are "cool" and allow for thoughtful examination.

When we tour houses, I'll make sure to communicate when the seller's asking price has room for bargaining and also when I trust the home is "priced to sell." When working with an agent, be careful and be sure to ask a lot of questions, as any REALTOR in Oil City will claim to comprehend the home market. If it seems like they don't know everything, just call me at (814) 677-2326 or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will help you stay a step above the rest through the entire deal.

Step 5 – Find the house of your dreams
I'm certain we'll find the house of your dreams in Oil City. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clean title.

Upon presenting your offer, you'll want to submit "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property and is most often applied to the closing costs. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer, and it's really common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.

The state of the market determines how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll create a deal that's best for you.

Step 7 – Secure financing
Upon signing the deal, you'll begin working with your lender to close the loan. This shouldn't take much time at all if you've been pre-qualified, but you'll want to keep in close contact with your lender. And I'll care for all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your loan application. This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a tight range of accuracy. I'll go over the estimate and let you know if everything looks okay.

Then we'll close on your house. This will most often happen at a title company or escrow office and will most often be a smooth and relaxing occasion.

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