Are you contemplating buying a new home in Kohala Coast? Hawaii Luxury Real Estate can help.
For a lot of people, purchasing a home can be an intimidating event. But with a little up-front planning, it's not that confusing.
I like to supply buyers with an overview of the entire deal so they'll understand exactly what to expect.
These are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
Prior to starting your home search, there are many things you need to do.
When you begin your search, you'll want to make a list of must-haves, get a plan of what school districts you want to live in, and start working on your budget.
Ensuring your mortgage payment is no more than a third of your monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent
This is where Hawaii Luxury Real Estate comes in.
We'll schedule a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Kohala Coast area, the mortgage and housing industries, and any additional economic factors that could affect your buying decision today or in the future.
In addition, I'll help you begin the loan process.
There are some great mortgage professionals in Kohala Coast, and I partner with a lot of them, so you'll be in great hands.
They can assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking for a home
After we meet, I'll begin finding available houses on the market that are a good fit for you.
I'll get a sneak peek of most of the homes and exclude the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.
When we view the homes, I'll identify good features, as well as negative ones. And I'll ask you to point out what things you like and don't like.
It's pretty common for buyers to amend their must-have list as we view homes and some things become far more essential than others.
If such is the case, I'll search all the listings another time and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
My understanding of the Kohala Coast housing market is an essential agent in your house search. I am conscious of all the neighborhoods and schools, and I'll let you know which districts are "hot" and warrant immediate action and others that are "cold" and allow for careful analysis.
When we tour homes, I'll be sure to tell you when the asking price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions. Every real estate agent will tell you they comprehend the home market.
If it doesn't seem like they know everything, call me at 808-557-5321 or e-mail me at , and I'll be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire process.
Step 5 – Find your dream house
We'll find your dream home in the Kohala Coast area, and when we do, I'll thoroughly create your home 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.
When we submit your offer, you'll probably want to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's most often applied to the closing costs. If the seller accepts the offer, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's very common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing budget. And at the end of the day, we'll assemble a contract that is best for you.
Step 7 – Secure your loan
After we sign the final contract, you'll start working with your lender to close the loan.
It won't take much time at all if you've been pre-qualified, but you'll want to keep in close contact with your lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of taking your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if everything looks okay.
Then it's time to close on your house. This will most often occur at a title company or escrow office and will probably be a smooth and relaxing affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 808-557-5321 or e-mail me at .