Buying with Us
A happy family looking at their dream home after receiving help buying it with PLS

Have Confidence Buying Your Home Through PLS

Purchasing a home, especially if you’re new to the real estate market, can prove challenging if you aren’t sure what to look for. For this reason, PLS employs expert real estate agents ready to assist those searching for new property to purchase. Not only are we intimately familiar with Peoria real estate and the communities throughout the Greater Peoria area, but we also strive to offer service that sets us apart from other local agencies. Call Professional Leasing & Real Estate Services to learn more!

Five Important Factors of Purchasing Real Estate

Purchasing a new home or property doesn’t have to be a complicated process. However, if you aren’t prepared for everything required of a real estate sale, you can be caught off-guard and paying for fees you didn’t expect! To give you greater peace of mind, here’s some of what you can expect with a standard real estate transaction in Illinois:

  1. Preapproval is Key – Preapproval on a mortgage loan is the first and most crucial step in the real estate buying process. Through preapproval, you can determine manageable payments and how much house you can afford. Preapproval also puts you ahead of competing buyers who might not yet have financing in place.
  2. Down Payment Costs Can Vary – No two properties’ down payments will be the same. In best-case scenarios, you could purchase property for 0% down with VA or USDA loans. Otherwise, 3.5% with FHA loans is more common, and anywhere from 5% or more with conventional loans is possible. Ultimately, your down payments are determined by the type of mortgage you choose, your financial situation, and the type of property you purchase.
  3. Don’t Forget About Closing Costs – Unfortunately, down payments aren’t the only fees you’ll be paying upfront. In addition to saving for your down payment, you’ll also be expected to cover closing costs. Closing costs are bank fees, title fees, and expenses such as inspections you’ll incur throughout the transaction process. Sometimes you can ask a seller to pay a portion of these fees. However, you should be prepared to pay anywhere from 2-6% in closing costs on top of your down payment.
  4. There’s Always Work to be Done – There is no such thing as a perfect home. When looking at properties, there will always be cosmetic issues and other problems for the buyer to fix. Unless you are purchasing “brand new” construction, understand that no home will be exactly to your liking. PLS’s goal is to help find you a home that checks off enough of your requirements with enough money left over to fix the rest yourself!
  5. Always Use an Agent – While there’s an appeal to DIY home buying, you might be worse off for it. Not having an agent help with buying from the start can prove challenging when attempting to find the properties that best fit your budget and preferences. Additionally, real estate agents in home buying can help negotiate better deals, ensure all paperwork is managed on your behalf, and save you the time and hassle of finding properties yourself.

How PLS Sets Itself Apart

At PLS, we understand how troublesome purchasing a home can be. And if you’re new to purchasing real estate, there are likely more hoops for you to jump through! Thankfully, PLS puts the care of our clients above all else. We do not hire coordinators or assistants to interact with our clients; we are always hands-on. We take direct control of the home-buying process to ensure as smooth a transaction as possible. Moreover, we are known to go the extra mile when serving a client’s needs. Our combined 30+ years of experience in the local real estate market have made us some of the area’s most trusted real estate teams. See some local properties for sale throughout the Greater Peoria area by clicking here!

A real estate agent from PLS helping a couple view a new home to potentially purchase

Call Today

If you are interested in purchasing a home but are unsure where to get started, allow the experts at Professional Leasing & Real Estate Services to lend a hand! Or, if needing assistance with selling or renting property, count on PLS! You can contact us today at 309-691-0900 or at our office: 7227 N University St, Peoria, IL 61614.