Buyers Guide / Buying a Home in Pennsylvania
Avoid a bumpy home-buying process in Pennsylvania by acquainting yourself with the process and its most important details. We’ve come up with a simple guide that breaks everything down to help you become a well-informed homebuyer.
- Get in touch with a local real estate agent, and not just any real estate agent, but one from RE/MAX Central. With our local expertise and knowledge, you can rest assured that your real estate goals will be met in the best way possible. We’re passionate about guiding homebuyers like you throughout the whole buying process, from getting preapproved for a loan to closing the deal.
- Sort out your finances. It’s best to tackle financing issues early in the process. To determine if you’ve got your finances in order, examine factors such as your income, your credit rating, and your monthly expenditures. Your credit score, which you can improve through various ways, can help you get preapproved for a better loan. To know more about the different types of mortgages you can choose from, log on to http://www.usa.gov/topics/family/homeowners/buyingselling/mortgages/types.shtml.
- Go house-hunting. Browse through online databases to get an idea of what’s currently available in the market. A list of non-negotiable features will help you cross out options that don’t really fit your bill. Remember to stay within your price range to avoid unnecessary additional costs, and that compromise can lead to happiness. Once you’ve found the one, you will need to deposit earnest money as a show of interest. Expect a counter offer from the seller, particularly if you’re offer is below the listing price – let your real estate agent negotiate for you.
- Have the home professionally inspected. Inspections allow you to make surethat you’re getting your money’s worth, just remember that you need to get themdone in a specific time period (stipulated in the contract). In Pennsylvania, ageneral home inspection is done, followed by whatever is requested or neededdepending on the property and whatever features it has. Having the propertythoroughly inspected enables you to act on any undisclosed issues fast, savingtime and money. You can also choose to walk away from the contract or ask for areduction in the sale price.
- The close. Bothparties will have already agreed on a closing date early on – it will be in thepurchase contract. You will be performing a final walkthrough to verify thateverything is in order. Once that’s settled, it’s time to settle transactioncosts, sign necessary documents, and take care of other legalities in thepresence of an escrow agent. Finally, the seller hands over the keys and thetitle of the property to you. Hoorah! Congratulations and welcome to your newhome.