It seems obvious, but it's good to note that the first step to buying a home is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new home - does buying still make good financial sense? Can you afford a home that will meet your list of requirements? Is Washington County the area you want your home in. A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income.
Step 2 - Seek Professional Guidance
I'd ( Joseph Rasel) like to schedule a time to meet with you to hear the reasons you want to buy a home in Washington County and your plans for the future. I am a licensed Real Estate Agent. We'll talk about neighborhoods, schools, economic factors liable to affect the market today and tomorrow, as well as how you would like your home and neighborhood to grow with you.
At this time, I will also help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal. You can start the process right at my office in downtown Washington Pennsylvania. Each Northwood Realty Services office has its own West Penn Financial representative. West Penn Financial is owned by Northwood Realty Services and is one of the largest Mortgage originators in this area. The Washington Office's representative is Rob Langley. Without bragging, Rob Langley is one of the most experienced and knowledgeable Loan officers in the entire Commonwealth of Pennsylvania. He will be able to advise you and help you make the right financial decisions when it come to your Real Estate needs, no matter what your current circumstances are.
Step 3 - Begin the Hunt
After our initial meeting, I'll search all my resources for homes in Washington County and surrounding areas (Canonsburg, Meadowlands, South Strabane, North Strabane, North Franklin), on the market that fit your criteria. I'll preview these homes to eliminate the duds. Usually this is done by checking te MLS (Multiple Listing Service) and also looking at other means such as For Sale By owners homes that Northwood Agents have kept track of. Then, I'll schedule appointments to tour the homes at times convenient to you.
As we tour homes, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour each of these homes, some things will become more important and others less important. With this new information, I'll refine our search criteria to narrow in on the home of your dreams.
Step 4 - Know the Market
My knowledge of the Washington County market is an essential factor in the house search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.
As we tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell". My unique market knowledge will keep you a step ahead of the "house hunting competition".
In a "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.
Step 5 - Find Your Dream House
I'm confident we'll find your dream home. When we do, I'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.). In addition to these contingencies, I will ask you to consider other strategies used when purchasing Real Estate. One such strategy I always use is "Seller Assist". This is when the buyer of Real Estate requests funds from the seller to assist in the purchase of the Real Estate. Because I always use this strategy for my customers, I know the different guidelines and procedures when making offers employing this strategy. In most cases my customers can take possession of their new home with very little or no money on the day of closing.
The offer is normally presented with "Earnest Money", also referred to as "Hand Money" in the Washington County Pennsylvania area. This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).
Step 6 - Negotiate the Deal
It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.
Step 7 - Get a Loan
During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. Rob will gather the necessary property information the Mortgage Company will need to close the loan. If the lender happens to be West Penn Finacial owned by Northwood Realty Services, then we will be even better positioned to move the deal along at a quicker pace.
Step 8 - Close the Deal
You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low. In addition to owning West penn Financial, Northwood Realty Services a full service Broker also has a strategic partnership and stake with Sierra Settlement a closing company in the area. This enables me along with all of Northwwood's resources to move your purchase toward closing as painlessly as possible.
Step 9 - Move In
Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. I'll give you a checklist to help you remember the numerous details that will make your moving day a pleasure.
Step 10 - After You Move In
Myself and all the Other Real Estate Professionals at Northwood realty Services like to believe that every customer we assist in either selling or purchasing home, that when the transaction is over. THAT IS JUST THE BEGINING!!!
I like to believe that because of the extraordinary service I gave to each of my customers, that when they think of Real Estate for the rest of their entire life. THEY WILL THINK OF ME! FIRST!!!
Everytime one of my customers friends, family or acquaintances speaks of their need of a Real Estate Professional, I believe that because Of the outstanding Customer Service I give each of my customers. THEY WILL THINK OF ME, WHEN THEY RECCOMMEND MY SERVICES!!
I like to think of myself as being each of my customers REAL ESTATE PROFESSIONAL FOR LIFE!!!
