Why should I choose the Poconos?
For the cultural activities, four season sports and recreation, special events and shopping outlets, East Stroudsburg University, Pocono Medical Center, proximity to major cities and airports and for nature’s panoramic views and tranquil settings.
What should I know when choosing a neighborhood?
Many people base the choice of their neighborhood on its proximity to shopping, major traffic routes, public transportation or schools. Others choose their location based on peace and quiet. One thing to do when considering your is to drive around and talk to the neighbors.
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How can I get information on Community resources?
Contact the local Chamber of Commerce, Vacation Bureau and or/library for maps and other available information.
Where can I learn about the local school districts and their ability to meet my needs?
You can get information by contacting the local schools districts and requesting they send you information, and you can get information by going onto the internet at: www.state.pa.us/PAPower .
What are the pros and cons of buying an older home versus a new home?
There really is no answer to that question. It is a matter of preference, how much work you want to put into the maintenance of a home and how willing you are to make necessary repairs. A newer home is going to need less initial maintenance and fewer repairs, but may not have the same ambiance or neighborhood stability as an older, more established neighborhood.
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Do I need attorney representation to purchase a home?
In Pennsylvania, an attorney is not required for the purchase, but certainly an attorney is strongly recommended. Because the purchase of a home is one of the largest purchases you will be making, it is advisable to have an attorney, as well as your agent, looking out for your interests.
When viewing a home, to what should I pay special attention?
You should be looking at the overall condition of the home, seeing if the major components of the home meet your general needs. You might want to bring a tape measure along to see if a large piece of furniture is going to fit in any given home.
How will I know what is a reasonable offering price on a home in a particular area?
The real estate agent, acting as a buyer’s agent, can provide you with a comparable market analysis of similar properties that have recently sold in the same area.
After I choose a house to purchase, how do I make an offer?
Your agent will advise you about the necessary elements of the offer to purchase and based on the comparable market analysis, can assist you in determining the offering price. Remember that making an offer is not the same as a fully executed agreement of sale and that your you may need to be prepared to adjust some of the conditions in your offer before the seller will accept it.
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Should I be present for any inspections that are to be done on the property?
It is certainly in your interest to be present to learn what the inspector’s job is to determine if there are any major material defects to the property. A material defect is defined by law to mean “a problem with the property or any portion of that would have a significant adverse impact on the value of the residential property or that involves an unreasonable risk to people on the land.” A maintenance item is not a material defect, although the inspector may discuss maintenance items with you. He is also there to answer basic mechanical questions you may have about the home.
How much down payment should I expect to need and how can I determine my settlement costs?
There are many mortgage options available to consumers. The amount of mortgage payment will be linked to the amount of money used as down payment. The larger the down payment, the smaller the mortgage amount.
How do I know if I qualify for a mortgage and should I be pre-qualified or pre-approved?
Your agent should go over figures with you prior to showing you homes. Pre-qualification suggests a mortgage amount that you may be qualified to purchase. Pre-approval goes through the entire process including a credit report and all other necessary documents. Many buyers choose to go to the lender of their choice and get the pre-approval done before they begin the search for their new home. This is beneficial.
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What can I expect to happen on the day of settlement?
In order for you to go to settlement, you will need to bring with you paid homeowner’s insurance binder. You will need a certified check for the necessary amount to complete the transaction and you will need to make arrangements with your agent to do a “walk through” of the home prior to going to settlement. Be prepared to sign all documents. Once all the documents are signed, the seller will turn over the keys to you, the attorney will take your original deed to the Courthouse for recordation and you may begin to move into your new home.
What happens if there is something I don’t understand on the settlement sheet?
If there is some misunderstanding, ask questions of the attorney or settlement agent before you sign any of the documents.
If the attorney takes the original deed to be recorded, when will I get it?
You will be given a copy of the deed during the settlement and you should receive the original from the Courthouse within 60 days after the settlement.
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