Contemplating purchasing a new home in Kohala Coast? Hawaii Luxury Real Estate can help.
Buying a home is a stressful event for most people. However, with a little up-front planning, it isn't too hard.
I like to give buyers an overview of the entire deal so they'll understand exactly what to expect.
These are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have about this information.
Step 1 – Get ready to purchase
There are plenty of things you should contemplate before commencing your home search.
You'll probably want to put together an index of must-have features, plan for what school districts you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 1/3 of your monthly income is a good guideline to go by.
Step 2 – Connect with a real estate agent in Kohala Coast
This is where I come in.
We'll book a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Kohala Coast area.
I'll also help you get started on your loan.
There are some very good mortgage professionals in Kohala Coast, and I partner with a lot of them, so you can rest assured that you're in great hands.
They'll assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start looking
Following our first meeting, I'll start looking for available homes on the market that are a good fit for you.
I'll research many of the homes and exclude the duds, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
When we view homes, I'll identify positive features and negative ones. I'll also ask you what things you like and don't like.
It's widely common for buyers to revise their must-have list as we view homes and some items become far more important than others.
If that happens, I'll search the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Understand the market
Your agent's knowledge of the Kohala Coast housing market is a necessary component in your house search. And I assure you I'm informed of all the schools and neighborhoods, and I will let you know which districts are "hot" and call for immediate action and others that are "cool" and allow for careful examination.
When we view houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Any real estate agent in Kohala Coast will claim to truly understand the home market, but take note, and be sure to ask lots of questions.
If things don't add up, call me at 808-557-5321 or e-mail me at , and I'd be glad to answer any questions you have. My market expertise will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream home
We'll find your dream home in the Kohala Coast area, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are getting financing, completing the home inspection, and a clean title.
Upon sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's typically applied to the closing costs. If the seller accepts the offer, we should close on the property within 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 extremely common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing limits. And when it's all said and done, we'll compose a deal that is best for you.
Step 7 – Obtain a loan
Once the deal is signed, you'll start working with your lender to close the loan.
If you've been pre-qualified, it shouldn't take long at all, but you should to keep in close contact with your lender.
And I'll look after all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your loan application.
The estimate is based on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a precise range of accuracy, and I'll go over the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This should take place at a title company or escrow office and is often a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 808-557-5321 or e-mail me at .