Buying a home in Mifflintown
For most people, purchasing a home can be an intimidating event. However, with some up-front planning, it isn't very difficult.
I like to furnish buyers with a road map of the whole deal so they know exactly what to expect.
These are my nine steps to buying a home.
If you have any 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 buy
Before you begin looking for a home, there are several things you should consider.
You'll want to put together an index of items you need, plan for what school districts you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good principle to go by.
Step 2 – Communicate with a real estate agent in Mifflintown
This is where I come in.
I'd like to arrange a time to get together with you and talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Mifflintown area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Mifflintown, and I partner with a lot of them, so you can rest assured that you're in great hands.
They will assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
After our first meeting, I'll start searching for available houses on the market that are great for you.
I'll get a sneak peek of many of the houses and throw out the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we view the houses, I'll point out positive features, as well as negative ones. I'll also ask you what things you like and dislike.
Oftentimes, buyers change their must-have list as we view homes and some features become more important than others.
If such is the case, I'll search all the listings again and trim it down to the home you've been wishing for.
Step 4 – Comprehend the market
Your agent's understanding of the Mifflintown home market is a fundamental component in your house search. And I assure you I'm mindful of all the neighborhoods and schools, and I will let you know some districts are "hot" and require immediate action and some that are "cool" and allow for cautiousness.
When we tour homes, I'll be sure to tell you when the asking price has room for negotiation and when I trust the home is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions, as every REALTOR in Mifflintown will convince you they truly understand the home market.
If it appears they don't know everything, just call me at 717-436-8200 or e-mail me at , and I'd be glad to answer your questions. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Mifflintown area, and when that happens, I'll precisely create your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are getting financing, carrying out the inspection, and a clean title.
When we send in your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property. The amount is most often applied to the closing costs. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the initial offer. It's widely common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and go on.
The state of the market will play a vital role in 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's best for you.
Step 7 – Get a loan
After we sign the final contract, you'll begin working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take much time at all, but you should to stay in close contact with your 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 mortgage lender will give you a Loan Estimate (LE) detailing your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of taking your loan application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a strict range of accuracy, and I'll review the estimate and let you know if everything 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 will likely be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, be sure to contact me at 717-436-8200 or e-mail me at .