Contemplating purchasing your new home in Kohala Coast?
Buying a home is intimidating for most people, but it's not very hard with a bit of planning ahead of time.
So they'll understand exactly what they can expect, I will provide buyers with an outline of the entire deal.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to buy a home
There are many things you'll want to take into account before commencing your home search.
You'll most likely want to put together a list of features you need, get an idea of what school districts and neighborhoods you'd like to live in, and begin planning around your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good principle to adhere to.
Step 2 – Contact a real estate agent
This is where I come in.
We can set up a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Kohala Coast area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
Hawaii Luxury Real Estate works with some of the best mortgage professionals in Kohala Coast, so you'll be in great hands.
They'll assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking
After our first meeting, I'll start searching for homes on the market that best suit you.
I'll research many of the homes and ignore the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.
As we tour homes, I'll identify positive features, as well as bad ones. I'll even ask you to talk about things you like and don't like.
It's widely common for buyers to change their list of must-haves as we tour homes and some items become far more substantial than others.
If that's the situation, I'll look through the listings another time and narrow it down to the house you've been dreaming about.
Step 4 – Understand the housing market
An agent's understanding of the Kohala Coast housing market is an imperative component in your house search. And I assure you I'm informed of all the schools and neighborhoods, and I can alert you to some neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for thoughtful examination.
When we tour houses, I'll be sure to tell you when the list price has room for negotiation and also when I believe the home is "priced to sell."
Every REALTOR will tell you they truly understand the market, but take note, and make sure you ask a lot of questions.
If things don't add up, just call me at 808-557-5321 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
I'm certain we'll find your dream house in the Kohala Coast area. When that happens, I'll carefully develop your purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies. A few examples are acquiring financing, finishing the home inspection, and a clean title.
When we send in your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property and is usually put towards the closing costs. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer, and it's very common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll put together a deal that works well for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, this won't be a long process at all. But you need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application.
The estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This should happen at a title company or escrow office and will likely be a smooth and pleasant event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to call me at 808-557-5321 or e-mail me at .