Buying your new home in Oil City?

Buying a home is intimidating for many people. However, with a bit of planning ahead of time, it's not all that complicated. I like to give buyers an overview of the whole deal so they understand exactly what they can expect. Below are my nine steps to purchasing a home. Should you have questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to purchase
There are many things you need to consider before commencing your home search. When you begin your search, you'll want to make a list of items you need, get a feeling for what school districts you'd like to live in, and start working on your budget. Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule of thumb to go by.

Step 2 – Connect with a real estate agent
That's where I come in. I'd like to arrange a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Oil City area.

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

Step 3 – Start looking
Following our first meeting, I'll start searching for homes on the market that are good for you. I'll get a sneak peek of many of the homes and reject the bad ones, and then we'll set up appointments to tour the homes when it's most convenient for you.

When we tour houses, I'll call attention to positive features, as well as negative ones. And I'll ask you about things you like and dislike. It's common for buyers to revise their wish list as we tour houses and some items become far more substantial than others. If that happens, I'll search all the listings once again and trim it down to the home you've been waiting for.

Step 4 – Get a grasp of the housing market
An agent's knowledge of the Oil City home market is a leading factor in your house search. And I assure you I'm acquainted with all the neighborhoods and schools, and I'll communicate certain areas are "hot" and call for immediate action and others that are "cold" and allow for cautiousness.

When we view homes, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be careful and be sure to ask a lot of questions, as every real estate agent will tell you they truly understand the market. If things don't add up, contact me at 8146782326 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.

Step 5 – Find the home you've been waiting for
I'm certain we'll find your dream home in Oil City. When that happens, I'll thoroughly create your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, finishing the home inspection, and a clean title.

When we turn in your offer, you'll want to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property and is often applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's really common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to accept the counter offer, submit 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 at the end of the day, we'll formulate a deal that is best for you.

Step 7 – Secure a loan
After we sign the final deal, you'll start working with your lender to close the loan. It shouldn't take much time at all if you've been pre-qualified, but you should to keep in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender will need to close the loan.

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

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

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