Purchasing your new home in Mifflintown with Jack Gaughen Network Services Hower & Associates
Purchasing a home is stressful for most people. However, with a bit of planning ahead of time, it's not that hard.
I like to furnish buyers with a road map of the whole deal so they'll understand exactly what they can expect.
Here 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 glad to address questions you have about this information.
Step 1 – Get ready to buy a home
There are several things you should contemplate before you look for a home.
When you start your search, you'll probably want to make an outline of features you need, get a plan of what neighborhoods you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is less than 1/3 of your net monthly income is a good rule to go by.
Step 2 – Speak with a real estate agent
That's where I come in.
I'd like to arrange a time to meet with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Mifflintown area.
In addition, I'll help you get started on your loan.
There are some excellent mortgage professionals in Mifflintown, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you in deciding which type of loan is best for you and help you get qualified.
Step 3 – Start house hunting
After our first meeting, I'll begin finding available homes on the market that meet your needs.
I'll research many of the homes and ignore the duds, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we view houses, I'll identify positive features and negative ones. I'll also ask you to tell us about things you like and dislike.
It's common for buyers to change their list of must-haves as we tour homes and some items become more substantial than others.
If that's the situation, I'll look through the listings again and narrow it down to the home of your dreams.
Step 4 – Understand the market
My understanding of the Mifflintown housing market is a fundamental aspect in your home search. I'm familiar with all the school districts and neighborhoods, and I can alert you to what areas are "hot" and require immediate action and the ones that are "cold" and allow for cautiousness.
As we view homes, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Any real estate agent will convince you they comprehend the home market, but keep an eye out, and make sure you ask a lot of questions.
If things don't add up, just call me at 717-436-8200 or e-mail me at , and I'd be glad to answer any questions you may have. My market knowledge will help you stay a step above the rest throughout the entire process.
Step 5 – Find the home you've been looking for
We'll find the home of your dreams in the Mifflintown area, and when we do, I'll carefully develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are getting financing, carrying out the inspection, and a clear title.
Upon turning in your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property, and it's typically applied to the cost of closing. If your offer is accepted, we should close on the home 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 beginning offer. It's really common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And at the end of the day, we'll create a deal that is best for you.
Step 7 – Secure your loan
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-approved, this shouldn't take very long at all. However, you'll need to stay in close contact with your lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will send you a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of taking your application.
The estimate is formed from the loan amount. RESPA requirements require that it has to contain all closing costs and be within a precise range of accuracy, and I'll analyze the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most often occur at a title company or escrow office and is often a smooth and calm occurrence.
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 call me at 717-436-8200 or e-mail me at .