Are you contemplating buying a new home in Oil City? Oil Region Realty, LLC can help.
With some up-front planning, purchasing a home isn't very difficult, but the event can be stressful for a lot of people.
So they'll understand exactly what they can expect, I will furnish buyers with an outline of the whole deal.
These are my nine steps to purchasing a home.
Should 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
Before you begin looking for a home, there are plenty of things you should take into account.
You'll probably want to put together an index of features you need, get a feel for what school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or around a third of your monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent
This is where Oil Region Realty, LLC comes in.
We can schedule a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Oil City area, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.
I'll also help you get started on your loan.
Oil Region Realty, LLC partners with some of the best mortgage professionals in Oil City, so you'll be in great hands.
They can help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a home
Following our first meeting, I'll begin finding houses on the market that are great for you.
I'll preview many of the homes and ignore the bad ones, and then we'll set up appointments to view the houses at a time that's convenient for you.
As we view houses, I'll show you the good features, as well as bad ones. I'll even ask you what things you like and don't like.
Most often, buyers revise their list of must-haves as we tour homes and some things become far more essential than others.
If that's the situation, I'll go back through all the listings once again and narrow it down to the home of your dreams.
Step 4 – Understand the housing market
An agent's knowledge of the Oil City home market is a crucial component in your house search. And I can assure you I'm informed of all the schools and neighborhoods, and I'll let you know what neighborhoods are "hot" and warrant immediate action and the ones that are "cool" and allow for thoughtful consideration.
When we view houses, I'll let you know when the list price has room for bargaining and also when I trust the home is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Every REALTOR will tell you they know the home market.
If it doesn't seem like they know everything, call me at 8146782326 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 ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream home in Oil City, and when we do, I'll meticulously create your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When turning in your offer, you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property. The amount is most often put towards the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the initial offer, and it's widely common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market conditions will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your financing constraints. And at the end of the day, we'll create a deal that's best for you.
Step 7 – Get financing
Upon signing the contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't be a long process at all, but you should to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of accepting your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a precise range of accuracy. I'll review the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most often occur at a title company or escrow office and is often a smooth and easygoing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at 8146782326 or e-mail me at .