Buying or selling a home?
Purchasing a home can be stressful for many people, but with some planning ahead of time, it's not very complex.
I like to supply buyers with a road map of the entire deal so they'll understand exactly what they can expect.
Here are my nine steps to buying a home.
Should you have questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are several things you need to take into account before starting your home search.
It's likely that you'll want to form a list of items you need to have, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
A good principle to go by is that your mortgage payment should be around 1/3 of your net monthly income.
Step 2 – Speak with a real estate agent
This is where I come in.
We'll book a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Kohala Coast area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
I can also help you facilitate the loan process.
There are some very good mortgage professionals in Kohala Coast, and I partner with a lot of them, so you're in great hands.
They will assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After our first meeting, I'll start looking for available houses on the market that are good for you.
I'll get a sneak peek of most of the homes and exclude the duds, and then we'll book appointments to view the homes when it's convenient for you.
When we tour homes, I'll identify positive features, as well as negative ones. I'll even ask you what things you like and don't like.
It's widely common for buyers to change their wish list as we view homes and some features become far more essential than others.
If that's the case, I'll look through the listings one more time and trim it down to the house you've been dreaming about.
Step 4 – Know the market
An agent's understanding of the Kohala Coast housing market is an essential element in your house search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I can alert you to some neighborhoods are "hot" and warrant immediate action and others that are "cool" and allow for thoughtful analysis.
When we view houses, I'll let you know when the seller's asking price has room for negotiation and also when I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask a lot of questions, as every real estate agent in Kohala Coast will tell you they know the market.
If it appears they don't know everything, contact me at 808-557-5321 or e-mail me at , and I'll be happy to answer any questions you may have. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find your dream house
We'll find the house of your dreams in Kohala Coast, and when that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as obtaining financing, completing the inspection, and a clean title.
When we turn 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 buy the property, and it's most often put towards the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of deals don't close on the first offer. It's really common to receive a counter offer. But don't let this discourage you. We'll talk about whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the contract.
In addition, we'll work within your budget. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Get financing
Upon completion of the deal, you'll start working with your mortgage lender to close the loan.
It won't take much time at all if you're pre-approved, but you should to keep in close contact with your lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of receiving your loan application.
This estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will probably occur at a title company or escrow office and should be a smooth and comfortable event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 808-557-5321 or e-mail me at .