Buying or selling a home in Kohala Coast?
For many people, buying a home can be a stressful event. However, with a bit of planning ahead of time, it's not all that complex.
So they know exactly what to expect, I like to provide buyers with an outline of the entire deal.
These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Prepare to buy
There are many things you need to take into account before starting your home search.
It's likely that you'll want to create a list of items you need, plan for what school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is around a third of your net monthly income is a good rule of thumb to follow.
Step 2 – Communicate with a real estate agent in Kohala Coast
That's where I come in.
We can arrange a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage industry, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Kohala Coast area.
I can also assist you with getting started on your loan.
There are some great mortgage professionals in Kohala Coast, and I work with a lot of them, so you'll be in great hands.
They will assist you with figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a house
Following our first meeting, I'll begin searching for homes on the market that best suit you.
I'll preview most of the homes and reject the bad ones, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
As we view homes, I'll show you the positive features and negative ones. I'll even ask you what things you like and dislike.
For the most part, buyers revise their list of must-haves as we view homes and some things become more necessary than others.
If that's the situation, I'll go back through all the listings again and narrow it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's understanding of the Kohala Coast housing market is a fundamental component in your house search. And I can assure you I'm conscious of all the school districts and neighborhoods, and I can communicate some areas are "hot" and require immediate action and others that are "cool" and allow for more analysis.
As we tour houses, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions. Any real estate agent in Kohala Coast will claim to truly understand the market.
If it seems like they don't know everything, just call me at 808-557-5321 or e-mail me at , and I'd be happy to answer your questions. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in the Kohala Coast area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
Upon sending in your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property and is usually put towards the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the initial offer – it's really common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll compose a contract that is best for you.
Step 7 – Get a loan
Once the contract is signed, you'll begin working with your lender to close the loan.
If you've been pre-approved, it shouldn't be a long process at all, but you need to stay in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of receiving your application.
This estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll examine the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will likely occur at a title company or escrow office and should be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, simply contact me at 808-557-5321 or e-mail me at .