Purchasing your home in Kohala Coast
For a lot of people, buying a home can be a stressful event. However, with a little up-front planning, it isn't all that hard.
I like to give buyers a road map of the whole deal so they know exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have regarding this information.
Step 1 – Prepare to buy a home
There are several things you should consider before starting your home search.
It's likely that you'll want to create an index of must-haves, get a feeling for what neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Speak with a real estate agent in Kohala Coast
That's where I come in.
I'd like to set up a time to get together with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Kohala Coast area.
In addition, I'll help you get started on your loan.
I partner with some of Kohala Coast's finest mortgage professionals, so you're in great hands.
They can help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After our first meeting, I'll begin finding houses on the market that are good for you.
I'll get a sneak peek of most of the houses and eliminate the bad ones, and then we'll schedule appointments to view the homes when it's convenient for you.
As we tour homes, I'll point out positive features and negative ones. I'll even ask you what things you like and don't like.
It's pretty common for buyers to amend their must-have list as we tour houses and some things become far more essential than others.
If such is the case, I'll look through all the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the market
My knowledge of the Kohala Coast housing market is a crucial component in your home search. I am mindful of all the neighborhoods and schools, and I'll communicate what areas are "hot" and warrant prompt action and others that are "cool" and allow for careful consideration.
As we view houses, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions, as every real estate agent will convince you they comprehend the market.
If it doesn't seem like they know everything, contact me at 808-557-5321 or e-mail me at , and I'd be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm certain we'll find the home of your dreams in Kohala Coast. When we do, I'll carefully create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as obtaining financing, carrying out the home inspection, and a clean title.
Upon sending in your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to purchase the property. The amount is often put towards the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's pretty common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
We'll also work within your financing limits. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Obtain financing
After the deal is finalized, you'll start working with your lender to close the loan.
If you've been pre-qualified, it won't take much time at all. But you should to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your application.
The estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if everything looks all right.
Then we'll close on your home. This will likely occur at a title company or escrow office and will probably be a smooth and comfortable event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, be sure to call me at 808-557-5321 or e-mail me at .