Contemplating buying your new home in Oil City? Oil Region Realty, LLC can help.

For most people, purchasing a home can be an intimidating event. However, with a little planning ahead of time, it's not that confusing. So they understand exactly what they can expect, I like to supply buyers with a road map of the whole deal. These are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.

Step 1 – Prepare to purchase
Prior to beginning your home search, there are several things you'll want to contemplate. You'll most likely want to assemble an outline of features you need, get a plan of what neighborhoods you want to live in, and start planning your budget. A good rule to follow is that your mortgage payment should be close to 30 percent of your net monthly income.

Step 2 – Communicate with a real estate agent in Oil City
This is where I come in. I'd be more than happy to set up a time to meet with you and speak with you about your real estate needs and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Oil City area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.

I can also assist you in 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 can rest assured that you're in great hands. They can assist you in determining which type of loan is best for you and help you get qualified.

Step 3 – Begin your search
After we meet for the first time, I'll start finding available homes on the market that are a great fit for you. I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.

When we tour houses, I'll show you the good features and negative ones. I'll even ask you about things you like and dislike. It's common for buyers to update their must-have list as we tour houses and some things become far more essential than others. If that happens, I'll go back through all the listings once again and trim it down to the house of your dreams.

Step 4 – Understand the housing market
My knowledge of the Oil City home market is an essential aspect in your home search. I'm informed of all the schools and neighborhoods, and I will communicate certain neighborhoods are "hot" and demand immediate action and others that are "cold" and allow for more examination.

When we tour homes, I'll make sure to communicate if the asking price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be mindful and make sure you ask a lot of questions, as any REALTOR in Oil City will claim to understand the home market. If it seems like they don't know everything, call me at 8146782326 or e-mail me at , and I'd be glad to answer your questions. My market expertise will help you stay a step ahead through the entire process.

Step 5 – Find your dream home
I know we'll find the home of your dreams in Oil City. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.

Upon presenting your offer, you'll need to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property and is typically applied to the closing costs. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts aren't closed on the first offer – it's extremely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.

Market circumstances will play a large role in how aggressively we negotiate the contract. We'll also work within your financing limits. And when it's all said and done, we'll compose a deal that works well for you.

Step 7 – Obtain your loan
Once the contract is finished, you'll begin working with your lender to close the loan. If you've been pre-qualified, this won't take very long at all, but you'll need to stay in close contact with your mortgage lender. And I'll deal with all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application. The estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy, and I'll examine the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This will most likely occur at a title company or escrow office and will probably be a smooth and relaxed 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, simply contact me at 8146782326 or e-mail me at .