Are you contemplating buying your home in Kohala Coast?
With some planning ahead of time, buying a home isn't that complex, but the event is stressful for many people.
I like to give buyers an outline of the whole deal so they understand exactly what to expect.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Prepare to purchase a home
There are several things you'll want to take into account prior to commencing your home search.
When you start your search, you'll probably want to form an outline of items you need to have, get an idea of what neighborhoods and school districts you want to live in, and start working on your budget.
Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good rule to go by.
Step 2 – Contact a real estate agent
This is where I come in.
We can plan a time to meet so we can talk about why you want to buy a home 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 affect your buying decision today or in the future.
I'll also 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 can rest assured that you're in great hands.
They can assist you in determining which type of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, I'll start finding available homes on the market that are a great fit for you.
I'll get a sneak peek of many of the houses and eliminate the duds, and then we'll book appointments to tour the homes when it's most convenient for you.
As we tour the homes, I'll call attention to good features and negative ones. I'll even ask you to tell us about things you like and don't like.
For the most part, buyers update their list of must-haves as we view houses and some features become far more necessary than others.
If such is the case, I'll go back through the listings once more and narrow it down to the home of your dreams.
Step 4 – Understand the housing market
Your agent's understanding of the Kohala Coast housing market is a leading agent in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I'll communicate which neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for more examination.
When we view houses, I'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask a lot of questions. Every real estate agent will convince you they comprehend the market.
If it seems like they don't know everything, call me at 808-557-5321 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the home of your dreams in Kohala Coast. When that happens, I'll meticulously create your home purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as getting financing, finishing the inspection, and a clear title.
Upon turning in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property and is most often put towards the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's pretty common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your budget. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, this won't take much time at all. However, you'll need to keep in close contact with your mortgage lender.
And I'll deal with all the property information your 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 loan application.
This estimate depends on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a strict range of accuracy, and I'll examine the estimate and let you know if everything looks good.
Then we'll close on your home. This will most likely take place at a title company or escrow office and should be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you call me at 808-557-5321 or e-mail me at .