Entering the Pennsylvania real estate market is probably one of the most important financial decisions of your life. In order to obtain the outcome you’d like, every step of the real estate process needs meticulous planning and understanding. First things first, you should always review the real estate laws of Pennsylvania and determine how they apply to your current situation. Be sure to review any laws applying to a home for sale by owner in Pennsylvania. From there, you should then narrow it down to your specific area so that you can familiarize yourself completely with all local and state laws to avoid legal battles further down the line.
The next step would be to examine the real estate market in Pennsylvania. There are many variables that determine the economic condition of a real estate market, so be sure to be in communication with numerous real estate sources so that you’ll know what you’re up against. You should also review your own finances and assets in order to be fully prepared to enter the market. Having this information at hand is crucial to anyone looking to sell their home “by owner”.
Once you have prepared all your financial resources, you can then begin to effectively budget and save money. For example, avoiding commission fees in Pennsylvania could save you up to 6% of your overall profits. Listing your home on an online real estate site such as beycome can also help you save money.
Remember, any time you can avoid paying commission fees will help boost your available budget and perhaps widen your options. Your time frame is another crucial factor that will impact any real estate effort. In short, the less time there is to sell your home, the less flexibility and leverage you will have when it comes to paying the full cost.
Making sure your home looks its absolute best it also an important matter when selling your house. Be sure to consider any repairs or renovations that may be necessary to fix up your house; especially if the market in your area is slow, having a home that requires major renovations will be harder to sell than one that is more or less “move-in” ready. We strongly recommend using some of your budget to repair your home or have the seller make the repair themselves.
Ready to buy a home in Pennsylvania? We couldn’t be happier for you. Pennsylvania is a state known for its natural beauty and cultural hotspots. Pennsylvania always has a trendy new real estate market popping up, but obviously any homes located in these prime areas will be sold for a higher price. Be sure to analyze your finances and start planning so that you’re confident of finding the perfect home. See below some of the different types of mortgages available to the average home buyer.
203k Rehab Loan
First things first, before you secure a mortgage you’ll need to review your credit score. We recommend avoiding applying for any additional credit lines before you have closed on your home and to also look into pre-approval.
In order to get pre-approved for a mortgage, you’ll need a good credit score, money down, savings and proof of steady employment. Every mortgage type comes with general fees, including costs for private mortgage insurance. It’s worthwhile to explore using websites like better.com to see how you can save money with a better mortgage.
If you’re buying a property in Pennsylvania, it’s a good idea to have proper documentation ready to go. Below are documents that you’ll likely be required to have to move forward:
Social Security Numbers
Addresses for Involved Properties
Proof of Homeowners Insurance
This process can be made even simpler, and cheaper, by using a site like beycome to help remove the middle-man (realtor) from this list.
Whenever you’re buying a home in Pennsylvania, you want to find a house that truly feels like “home” to you. This should not be an impulse decision, and we recommend taking lots of time to go through all your options. Why not make a list of questions and/or elements you’d like to have in a future home? Do you want a more rural or city center location? How important is location to you?
Don’t forget to also check out the privacy the property affords you and make sure it suits your needs. It’s also wise to research any property’s amenities, including any white goods that may be included with the house.
Once you’ve made a checklist of your basic “needs” from a house, you’ll also want to examine the structural qualities of a home. Pennsylvania has a range or architectural styles and many neighborhoods have their own unique style and history. Of course, each of these styles come with different aspects:
Closets and other Storage Spaces
Number of Rooms
Numbers of Floors
Garages or Parking
Numbers of Porches or Decks
When purchasing a home in Pennsylvania, it’s a good idea to look at the area around the house as much as its interior. The home could be perfect on the inside but be situated across the street from a train station or a major highway. There could also be very little space between you and your neighbors. This could become an issue with your community especially if you expect to be making a lot of noise at home.
It comes as no surprise then that when purchasing a home in Pennsylvania, it’s in your best interest to look over all your options critically. Try creating your “dream home” on paper first and then find the property that comes the closest to that. Don’t be afraid to try various options such as: searching the internet, calling owners, and visiting open houses to gather as much information as possible before making a decision.
Buying a home is one of the biggest financial decision you’ll ever make, so it’s best to be as well informed as possible. When looking at different properties, try asking some of the below questions to see whether or not they meet your basic needs:
How do the price comparisons look?
How long have the homes in question been listed for sale by their owner?
Is there a deadline?
How much time do you have to make a decision?
Why are the owners selling the home?
Has it recently been refurbished, redecorated or renovated?
Are there any association fees?
What are the current utilities like?
Do not be afraid to ask questions.
When you begin your home search in Pennsylvania, sometimes researching online just isn’t enough. Homes often appear much different in-person than in a photo. We always recommend visiting a property that checks a lot of your boxes, even if the photos online don’t look super attractive. There are numerous ways to do this, but the easiest way is to visit a home during an open house. Of course, you can also contact the seller directly and arrange a private tour.
Whenever you go to tour a home in person, be sure to take advantage of the opportunity to gather as much information as possible. Take notes and photos of the property and check for anything that may be broken or faulty. Record an issues with windows, locks, doors, plumbing, water pressure, outlets, lighting and pests.
When you feel like you’re ready to commit to a property, be prepared for a lengthy process. Research comparative market analysis and see how homes in the area are usually priced before comparing. Be sure to consider the different markets and how the buyers, sellers and balanced markets are faring in Pennsylvania.
Contingencies are legal tools that allow you to back out of a home sale contract if certain conditions occur. This is to ensure that both parties participating in the sale are protected from time wasters or any other issues. You can add any contingencies you’d like but it’s common to stick to the basics listed below:
Home inspection Contingency
Home Appraisal Contingency
If you’re trying to buy a home in a stronger real estate market, you will probably need to strengthen your offer. It’s often preferred to work with a lender that is known to your listing agent. From there, you should work with a professional to cover all your options. Consider shortening contingency periods or perhaps wave them entirely.
It’s also beneficial to show your seriousness and professionalism to the seller by introducing yourself with a cover letter, maybe some photos, and an opinion on the property itself. You also have the option of increasingly the money paid to confirm the contract or earnest money deposit to show your commitment to the purchase of the home.
If you’ve bid lower than the asking price for the home, don’t be surprised if the seller rejects your initial offer. If a bidding war begins on a property then you’ll probably need to compete with others who may offer more money than you. A seller could also back out of the deal if you include to many contingencies.
People that are selling their property are looking for committed and serious buyers. They are also looking to sell as quickly as possible, so be sure to negotiate your terms quickly and efficiently in order to better your odds for closing the deal on your dream home.
Are you finishing up a contract? Think you can relax? Think again. Closing costs are fees that buyers frequently forget to factor into their budget. With lender and third-party fees, this shouldn’t go above 2-5%; and should also fall between 30-45 days to wrap up.
Make every effort to close the deal quickly and follow the correct steps to ensure the purchase goes without any issues. Be sure to: make the earnest money deposit, order the title, inspect the real estate (both professionally and personally), purchase insurance, and do a final walk through. After this is completed, submit the cashier’s check for down payment and closing costs. Once you close the escrow and sign on the dotted line - congratulations, you’re a proud Pennsylvanian homeowner.
Pennsylvania is a cultural hub with plenty of real estate, which means that there are entire chains of businesses popping up throughout the state. Being as old as it is, Pennsylvania also has centuries worth of history to experience and explore. You can take a trip through history or enjoy the newer attractions when you explore this historied state.
Pennsylvania State Capitol: Located in Harrisburg, the capital building is one of the finest examples of architecture in the city and surrounding area.
Valley Forge: An important spot in the American Revolution, Valley Forge tells of America’s fight for independence with tours, exhibits and films.
Visit the Liberty Bell: Last rung in 1846, come see this icon of American freedom and independence.
Independence Hall: Built in 1753, come visit the historic building where the Declaration of Independence and the Constitution was signed.
Hersheypark: A chocoholic's paradise. This theme park is filled with rides and attractions for kids of all ages.
Fallingwater: Designed by world-renowned architect Frank Lloyd Wright, it’s now a designated landmark with tours, gardens and a cafe.
Gettysburg National Military Park: A sprawling park that includes the Gettysburg battlefield plus a Civil War museum.
Reading Terminal Market: A famous indoor farmer’s market offering food, homeware and local specialities since 1892.
University of Pennsylvania: America’s first university. This college dates back to 1740 and shares many ties with the colonial city of Philadelphia. Philadelphia, PA 19104
Pennsylvania State University: Pennsylvania's only land-grant university, Penn State has a broad mission of teaching, research, and public service. Pennsylvania 16802
Drexel University: Drexel is a comprehensive global research university ranked among the top 100 in the nation. With over 24,000 students, Drexel is one of America's 15 largest private universities.Philadelphia, 19104
University of Pittsburgh: The University of Pittsburgh is a state-related research university, founded as the Pittsburgh Academy in 1787. Pittsburgh, PA 15260
Temple University: Temple University contains 17 schools and colleges, eight campuses, hundreds of degree programs and more than 38,000 students. Philadelphia, PA 19122
Carnegie Mellon University: A private, global research university, Carnegie Mellon stands among the world's most renowned educational institutions, and sets its own course. Pittsburgh, PA 15213
Villanova University: The only Augustinian Catholic university in the nation, Villanova values a personalized experience where teachers and students are partners in learning and scholarly inquiry. Villanova, PA 19085
Lehigh University: Located in Pennsylvania's beautiful Lehigh Valley, Lehigh is one of the nation's most distinguished private research universities.Bethlehem, PA 18015
Duquesne University: One of the nation's top Catholic universities, Duquesne University provides a well-rounded education that will challenge you academically while nourishing your spiritual and ethical development.Pittsburgh, PA 15282
SILK CITY DINER, LOUNGE & BEER GARDEN:Built on to a trolley-car diner/restaurant and a funky beer garden, this hipster hangout brings DJs, live bands and special events to a simple space.Philadelphia, PA 19123
Cuba Libre Restaurant & Rum Bar: At this fun and vibrant restaurant and club, professional costumed dancers lead the crowd in a floorshow that spotlights various Latin dance. Philadelphia, PA 19106
Whisper Club: From Thursday to Saturday night, the city's best-dressed party-goers ride an elevator to the second-floor club, where six bars, a light-show, and two elevated VIP platforms await them. Philadelphia, PA 19103
Sugar House: Sugar House is the only casino in Philadelphia. It stays open 24 hours a day, seven days a week for gamblers and entertainment seekers. Philadelphia, PA 19125
Water Works Restaurant & Lounge: One of Philadelphia's only waterfront restaurants is one of its most romantic; due to the sweeping porch that provides for a drink or a meal full of breathtaking views of the Schuylkill River and of Boathouse Row. Philadelphia, PA 19130
World Cafe Live: A listening room that caters to serious music fans, World Cafe Live books an impressive variety of talent from week to week, from national to local favorites. Philadelphia, PA 19104.
Monk’s Cafe: While dozens of newer craft-beer bars have opened since this one, you can't argue with a destination that's still considered the beer heaven of Philadelphia. Philadelphia, PA 19102
Avenue of the Arts: As the longest, widest, busiest street in the region, Avenue of the Arts would likely be some sort of destination even it weren't home to more than 50 of the city's premier arts and culture institutions. Philadelphia, PA
Kimmel Center for the Performing Arts: Home to the American Theater Arts for Youth, Chamber Orchestra of Philadelphia, Opera Company of Philadelphia, Peter Nero & the Philly Pops, Pennsylvania Ballet, PHILADANCO, Philadelphia Chamber Music Society, and Philadelphia Orchestra, the magnificent Kimmel Center is the cultural heart of the city. Philadelphia, PA 19102
So you’ve decided to sell your home in Pennsylvania? Selling by owner in Pennsylvania takes a lot of time and effort to spread the word and attract potential buyers. Be sure to analyze your finances before starting the process of selling. Perhaps you have enough budget to create some advertisement? Did you save money for inspectors to overlook your house? Can you pay for any repairs your home may need before it’s ready to sell? What will your closing costs amount to? It’s important to keep these questions in mind when you’re budgeting.
Pennsylvania for sale by owner is a popular search term online. This means that many people are interested in homes in this state. Even though demand may be high, that doesn’t automatically guarantee a high asking price. A home for sale by owner in Pennsylvania could end up costing you if you’re not cautious. The best way to sell your home is to put it on the market yourself. There are lots of useful resources out there to help you get the biggest bang for your buck.
It’s important to take an inventory of your house and note any issues. Then decide if you have the budget to hire a professional to repair them. Take a look at other houses in the area online to have something to compare your own home to. If you think your home may need repairs, make a list, and prioritize the ones that need attention now. For example, repairing any indoor plumbing should come before fixing a creaky floorboard.
Pennsylvania real estate common problems like fault air conditioning systems or flooding issues will have to be addressed. The repair process is easier when you already have a list of questions at hand. See some examples below:
What were other homes sold in your area like?
Is your home in a better or worse state than they were during the sale?
How many repairs can you handle yourself?
Is the damage severe enough to require professional help?
Once your home is ready to be seen and welcome potential buyers, it’s time to decide on an asking price. This must be researched as you cannot simply pick a price that sounds appealing to you. Start by looking at other homes for sale by owner in Pennsylvania and go from there. Pay attention to any Pennsylvania homes similar to yours sold in the last quarter.
Headlines like “Pennsylvania for sale by owner” and “home for sale by owner in Pennsylvania” are good places to start comparing homes currently on sale. Make a list of the homes you find and then average out the asking price across all of them. The average median home cost in Pennsylvania is over $100,000 but that could change depending on your specific location and the condition of your home.
Why not be proactive and visit an open house for sale by owner in Pennsylvania? This may allow you a better understanding of your competition and allow you to adjust your own selling strategy. From what you see online and in-person, you’ll have a better idea of what attractive qualities you home already has - and what it needs. These observations, along with a home valuation analysis, should help you come up with a fair asking price to attract potential buyers.
Your research should also help you tune into the current trends other homes for sale by owner in Pennsylvania are using. Use these trends to guide your own decision regarding updates to rooms in your own house like: the kitchen, bathrooms, its exterior, and the roof. Be sure to note any changes you make so that you can highlight this later to potential buyers. These updates will factor into into your home’s minimum and maximum value. You want to make sure your asking price falls into a comfortable spot between overpriced and underpriced.
As soon as a for sale by owner house in Pennsylvania is ready to go on the market, you should begin creating a marketing plan. The most obvious starting point is the internet. There are thousands of websites designed to advertise any home for sale by owner in Pennsylvania. For example, sites like Craigslist and other classifieds offer easy-to-use tools that make marketing online quick and easy.
beycome offers several services to help your real estate marketing campaign including:
Listing on your Local MLS
Listing on top real estate sites
Full listing on beycome
Virtual Tour & YouTube© Video
Printable promotional items
Full legal offers online
Home Visit Manager
Open House Scheduler
Advertising your home offline is another effective way to showcase your for sale by owner home in Pennsylvania. You can place an ad in a newspaper’s classified section to reach out statewide or to local communities. Fliers and yard signs are also common methods of advertising that help spread the word of a home for sale by owner in Pennsylvania.
Making sure your ads stand out from the crowd is essentially if you’re looking to sell your home quickly. Research local creatives to see if any offer a style of work that matches your taste. Graphic designers, photographers and writers all help make your ads more interesting. A home for sale by owner in Pennsylvania is much more likely to jump out at potential buyers when supported by a solid marketing strategy.
Don’t be afraid to showcase the surrounding area when marketing your home. Highlight things to do like: schools, malls, shopping centers, entertainment districts or outdoor activities when showcasing your home’s benefits.Any property located near places of interest are in higher demand, so be sure to flaunt it if you got it!
Pennsylvania is continually seeing demand for available real estate. Buyers understand how valuable your property is, so don’t be afraid to capitalize on this. Get rid of the expenses that come with hiring a real estate agent and handle the whole thing yourself. You can work with beycome and avoid commission fees, slow results, and difficult agents. Pennsylvania for sale by owner is a very sought after market so benefit from that interest today!
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