Home
Buyers
Why Choose The Cervone Group When Looking to Buy?
Oftentimes, individuals embark on their home buying adventure uninformed, unprepared, and uncertain of the requirements and the entire process.
Homeownership is a significant financial commitment that should not be taken lightly, regardless of whether you are a first-time or seasoned buyer. As your buyer’s agent, our mission is to make the process of purchasing a home as seamless as possible for you by providing you with the information and tools you need to make a well-informed, educated decision.
We’ve included a concise home buying guide below that details the process and how to prepare for your first or next home purchase.
#1 Evaluate Your Finances
With the help of a mortgage calculator, you may create an expected budget dependent on your income, assets, debts, and other financial obligations, in order to ensure that you can pay your mortgage on time each month. Additionally, you’ll want to have some cash reserved for a down payment and settlement expenses, as you’ll be required to make a down payment of between 3-20%, depending on your loan type.
#2 Securing Finances
Once you’ve assessed your financial status and created a budget plan, you may contact a reputable lender with confidence to discuss loan options. When you choose a loan that meets your requirements, apply to obtain a pre-approval letter. A pre-approval letter will determine your borrowing capacity based on your financial profile. The pre-approval strengthens your negotiation position and demonstrates to sellers that you are legitimate.
#3 Getting Your Feet Wet in the Market
Now that you’ve received a letter of pre-approval, you can begin looking for homes with the assistance of your real estate agent. You may save time and effort by focusing your search on properties within your price point.
Consider some inquiries with relatives and friends, conduct an online or mobile search, and also have your real estate agent show you properties that are a good fit. When you locate a suitable property, your real estate agent will assist you in making the best decision and submitting the best offer. The seller may accept your offer or counter offer.
You can continue negotiating with the seller or accept his counteroffer and finalize the purchase. If you reach an agreement, a contract will be drafted, you will demonstrate your commitment by fully executing the agreement of sale along with submitting a an earnest money deposit to the seller’s agency to be held in an escrow account.
#4 The Due Diligence/Inspection Period
When you have an executed contract with the seller, you can complete the mortgage application process with your trusted lender where you were pre-approved.
Your real estate agent can assist you in submitting your application, providing required documents, and verifying these documents. You have 30-60 days to fulfill your purchase contract, so act quickly. You’ll also want to consider hiring inspectors to check the property for safety and reliability throughout the contingency period.
Choosing a thorough, qualified inspector who will not overlook major issues to support the purchase is essential. Once you obtain the inspection report or reports, you may evaluate significant concerns to repair and perhaps negotiate repair responsibilities with the seller, ask for a sellers credit or terminate the contract.
#5 The Home is Yours!
Once your mortgage is fully approved, the title company has issued a clear title and the home inspection reveals no material defects that would cause you to terminate the contract, and nothing else falls through at the last minute, it’s time to schedule your settlement. On or before the day of settlement, we will work with you to schedule a time to do a final walkthrough of the property. This usually occurs the day of or the day before settlement. If all checks out with the house on the walkthrough, we head to the settlement table where the title clerk will manage the closing process and your loan officer may be in attendance as well to walk you through the mortgage documents. Of course, we will be there as well to assist with anything needed.
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![4200 #108A Pine Street 108A Philadelphia, Pennsylvania Bathed in natural light, space and history, this charming and stately home in Spruce Hill awaits its new owner. With its commanding presence, the home is located on the corner of Pine Street and 42nd Street. The exterior of this home features a spacious and lush lawn, a large private side porch, shade trees, beautiful perrenial plantings, wrought-iron fencing, and assigned/reserved on-site parking for residents and visitors/guests. Though essentially a private residence, it is part of the 4200 Pine Condominium. Situated in the Penn-Alexander School Catchment, this historic 4 bedroom/3.5 bath home was crafted from a larger mansion. Originally designed by the Philadelphia architect Horace Trumbauer. 4200 Locust is one of the most significant homes in the City of Philadelphia. This elegant historical residence has been meticulously maintained, with extensive plumbing and electrical upgrades in 2011. Features include 4 fabulous floors of luxury, 3.5 baths, the full baths have heated flooring, 9-foot ceilings, 3 working fireplaces, and exposures offering an abundant amount of natural light, intricate woodwork and plasterwork details which include Wedgwood inlaid tiles, and modern interior touches. While the bones of this home remain intact, contemporary touches harmonize seamlessly with original features. The grand porch is original, as are the Mercer tiles. Original wooden floors abound, and pocket doors remain elegantly functional. Additionally central air conditioning has been installed, with the practicality of 2 separate zones. Enter through the magnificent original doors into the stunning foyer that contains a discreetly placed powder bath. The first floor revels a recently renovated open concept space, perfect for family time or entertaining guests. With a living room flowing into a dining area and kitchen, the cook is always included in the conversation. An entertainers dream floor plan. The kitchen boasts Wolf, Bosch and Miele appliances. Original sets of French doors open on to the enormous porch and outdoor lawn and gardens. A modern floating staircase leads to the second floor. Here, the primary suite features an enormous bed chamber, a magnificent original plaster medallion on the ceiling, a large dressing room with a walk in cedar closet, tastefully appointed full bath, a remote-controlled gas fireplace, beautiful original details, and exposures on three sides. The 3rd floor contains 2 bedrooms, plus a full bath and Bosch washer and dryer. The cavernous lower level, with an abundance of natural light is the perfect multi-functional space to serve as an office, gym, secondary entertainment space, or other purposes. Additionally, there are five storage spaces to use as needed. This home also boasts newer plumbing and electrical, energy-efficient windows throughout, and a tankless hot water heater. Though this home is part of the 4200 Pine Condominium, it retains a unique status as it is on half of the original Eishelor family mansion. Owners enjoy the advantages of living in a private residence, landscaped lawns and securely gated courtyard: on-site parking and on-site trash disposal and recycling; a property manager; and an association that covers the roof, exterior, trash and snow removal, and more. A leafy, lively and lovely historic neighborhood is yours to explore Clark Park and its Farmers’ Market, Jazz and Movies under the stars, Clarksville’s Green Line, the Penn-Alexander Catchment, and so much more. Within an easy walk are, the local food Co-op Mariposa, Baltimore Avenue’s Restaurant Row, Renata’s, the Bottle Shop, Lil Pop Shop, CVS, and many coffee shops, grocers, restaurants, boutiques, museums, and a movie theatre. The location is in close proximity to HUP, CHOP, PENN, Drexel, Wharton, and University of the Sciences. Additionally, it’s so very assessable to Rittenhouse Square, 30th Street Station, and the rest of Center City by car, bike, or SEPTA. DO NOT miss this exceptional residence.](https://bright-media02.prd.brightmls.com/bright/images/0000/8032/4638/9898/803246389898_2048_1536_WM_crs_s3Rq4SNUGzzW.jpg)
4200 #108A Pine Street 108A Philadelphia, Pennsylvania
4 Beds 4 Baths 3,688 SqFt
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Situated on a quiet block just steps from Frankford Ave, this spacious 2 bed, 2 full bath home with over 1300sq/ft of space is ready to move in. The main floor consists of an open living area with hardwood floors and recessed lighting, leading to a well-appointed kitchen featuring a dishwasher, refrigerator, gas range, and ample cabinet space. Off of the kitchen, you will find a rear patio, perfect for gatherings and outdoor dining. Upstairs on the 2nd level, you will find a spacious bedroom with a large closet and a hall bathroom with a stall shower with subway tile and a window that allows natural light to flood the space. Continuing up to the 3rd floor, you will find the primary bedroom with access to a private balcony, multiple closets, and a spacious and sunny full bath. Downstairs, the full, unfinished basement provides tons of storage and a washer/dryer for added ease. Other features include a brand-new HVAC installed just in time for the late-summer heat, hardwood floors throughout, and great natural light.
This prime location can't beat with Palmer Park and Palmer Doggie Depot right there as well as restaurants/bars like LMNO, Kayala, and the International, to name a few. Commuters will also enjoy quick access to the Market/Frankford Line as well as multiple bus stops nearby. Also located in the Alexander Adaire catchment. Don't miss this opportunity to experience Fishtown living at its finest!](https://bright-media02.prd.brightmls.com/bright/images/0000/8032/5008/7614/803250087614_2048_1536_WM_cnNWtPeq5R-FE2fn.jpg)
1735 Sepviva Street Philadelphia, Pennsylvania
2 Beds 2 Baths 1,309 SqFt 0.010 Acres
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3 Beds 2 Baths 1,260 SqFt 0.020 Acres
![2840 S 16th Street Philadelphia, Pennsylvania Pack your bags and move right into this beautiful brick front rowhome situated in one of South Philadelphia's most desirable neighborhoods. The main floor features a sun-filled living room, a formal dining room, and a modern kitchen with granite countertops. Step out from the kitchen to a spacious rear patio, perfect for entertaining and outdoor dining.
The fully finished basement provides additional living space, a convenient powder room, ample storage, and a laundry area equipped with a washer and dryer. Upstairs, you'll find three bedrooms, all with closet space, and a full bathroom with a tub and shower combo. The home boasts hardwood floors throughout and has been freshly painted.
Enjoy unparalleled convenience with this home's location within walking distance to Broad Street, Marconi Park, Barry Park, supermarkets, shopping centers, restaurants, the sports complex, Live! Casino, and public transportation.
This home is easy to show! Schedule your tour today and discover the perfect blend of comfort and convenience in South Philadelphia](https://bright-media02.prd.brightmls.com/bright/images/0000/8032/4981/5828/803249815828_2048_1536_WM_vWU1ZI58o5jYEOCU.jpg)
2840 S 16th Street Philadelphia, Pennsylvania
3 Beds 2 Baths 1,200 SqFt 0.020 Acres
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4577 Baker Street Philadelphia, Pennsylvania
2 Beds 2 Baths 1,824 SqFt 0.050 Acres
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573 Hoyt Road Huntingdon Valley, Pennsylvania
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