Buying a new home in Kohala Coast with Hawaii Luxury Real Estate
Purchasing a home is an intimidating event for many people, but with a little up-front planning, it isn't too complicated.
So they understand exactly what they can expect, I'll give buyers an outline of the whole deal.
Below are my nine steps to purchasing a home.
If you have any questions about 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
There are plenty of things you need to do prior to starting your home search.
You'll most likely want to put together an outline of features you want to have, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is no more than a third of your net monthly income is a good guideline to follow.
Step 2 – Communicate with a real estate agent in Kohala Coast
That's where I come in.
We'll arrange 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 industry, and any other economic factors that could potentially affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
I partner with some of the best mortgage professionals in Kohala Coast, so you'll be in great hands.
They can assist you with figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking
After our first meeting, I'll begin looking for homes on the market that are good for you.
I'll research most of the houses and remove the duds, and then we'll book appointments to view the houses whenever it's convenient for you.
When we view the homes, I'll identify good features, as well as bad ones. I'll even ask you to tell us about things you like and dislike.
Usually, buyers amend their must-have list as we tour homes and some features become far more essential than others.
If such is the case, I'll look through the listings once more and narrow it down to the house of your dreams.
Step 4 – Know the market
Your agent's understanding of the Kohala Coast housing market is a crucial element in your house search. And I can assure you I'm familiar with all the school districts and neighborhoods, and I can communicate what neighborhoods are "hot" and require prompt action and others that are "cold" and allow for thoughtful examination.
As we tour homes, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Every REALTOR in Kohala Coast will tell you they understand the housing market, but trust your instincts, and be sure to ask your agent a lot 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 might have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been looking for
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 made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the home inspection, and a clean title.
When we submit your purchase offer, you'll need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property and is usually put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the first offer. It's extremely common to receive a counter offer. But don't let this discourage you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on the state of the market.
In addition, we'll work within your budget. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Get financing
After the contract is complete, you'll begin working with your lender to close the loan.
If you've been pre-qualified, this shouldn't take very long at all, but you'll need to keep in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a close range of accuracy. I'll review the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and is often a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to call me at 808-557-5321 or e-mail me at .