Buying or selling a home in Kohala Coast?
Purchasing a home intimidates many people, but with a little planning ahead of time, it isn't too confusing.
I like to supply buyers with a road map of the entire deal so they'll know exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Get ready to buy a home
There are several things you should do before beginning your home search.
When you start your search, you'll want to create a check list of items you need, plan for what neighborhoods and school districts you'd like to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good rule to follow.
Step 2 – Speak with a real estate agent in Kohala Coast
That's where I come in.
I'd like to arrange a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the Kohala Coast area.
I can also help you get started on your loan.
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'll assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After our first meeting, I'll start looking for homes on the market that best suit you.
I'll research many of the houses and throw out the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.
When we view the houses, I'll show you the good features, as well as negative ones. I'll even ask you to talk about things you like and don't like.
As a rule, buyers change their must-have list as we tour homes and some features become more necessary than others.
If such is the case, I'll go back through the listings again and trim it down to the house you've been waiting for.
Step 4 – Understand the market
My knowledge of the Kohala Coast home market is a crucial component in your house search. I'm informed of all the schools and neighborhoods, and I'll communicate what areas are "hot" and warrant prompt action and others that are "cool" and allow for thoughtful consideration.
As we tour homes, I'll be sure to tell you when the list price has room for bargaining and also when I believe the home is "priced to sell."
When working with an agent, be on guard and make sure you ask lots of questions, as any REALTOR in Kohala Coast will convince you they understand the home market.
If it appears they don't know everything, contact me at 808-557-5321 or e-mail me at , and I'd be glad to answer your questions. My market expertise will keep you a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in Kohala Coast, and when we do, I'll carefully create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property, and it's most often applied to the closing costs. 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 the deal
Most contracts don't close on the beginning offer, and it's very common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market conditions will play a part in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Get a loan
Upon finishing the deal, you'll start working with your lender to close the loan.
If you've been pre-approved, this won't take very long at all, but you'll need to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your application.
The estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy, and I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at 808-557-5321 or e-mail me at .