Contemplating buying your new home in Tamuning? Latte Stone Properties, LLC can help.

Buying a home intimidates many people. However, with a little planning ahead of time, it's not that complex. I like to furnish buyers with an overview of the entire deal so they understand exactly what to expect. Below are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have about this information.

Step 1 – Prepare to buy
Before you commence your home search, there are many things you'll want to do. When you start your search, you'll probably want to make an outline of items you want to have, get a plan of what school districts you want to live in, and start planning around your budget. Ensuring your mortgage payment is less than or close to a third of your monthly income is a good rule of thumb to go by.

Step 2 – Speak with a real estate agent
This is where Latte Stone Properties, LLC comes in. We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Tamuning area.

I can also help you facilitate the loan process. Latte Stone Properties, LLC partners with some of Tamuning's finest mortgage professionals, so you can rest assured that you're in great hands. They will help you figure out which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin your search
After our first meeting, I'll start finding houses on the market that meet your needs. I'll research most of the homes and ignore the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.

When we view the houses, I'll identify good features, as well as negative ones. I'll even ask you to tell us about things you like and don't like. It's pretty common for buyers to update their list of must-haves as we tour homes and some features become more crucial than others. If such is the case, I'll search all the listings once again and narrow it down to the house you've been wishing for.

Step 4 – Comprehend the market
My knowledge of the Tamuning market is a leading element in your home search. I'm familiar with all the schools and neighborhoods, and I'll communicate some areas are "hot" and require immediate action and some that are "cold" and allow for thoughtful consideration.

When we view homes, I'll make sure to communicate when the list price has room for negotiation and also when I know the house is "priced to sell." Every real estate agent in Tamuning will convince you they truly know the home market, but take note, and be sure to ask your agent lots of questions. If things don't add up, just call me at (671) 647-5577 or e-mail me at , and I'll be glad to answer any questions you may have. My market knowledge will keep you a step above the rest throughout the entire deal.

Step 5 – Find the home you've been waiting for
I know we'll find your dream home in Tamuning. When we do, I'll carefully create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, finishing the inspection, and a clean title.

When we submit your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a home seller to secure the offer to purchase the property and is usually put towards the cost of closing. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer – it's pretty common to receive a counter offer. Don't let this intimidate you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

Market conditions determine how aggressively we negotiate the deal. We'll also work within your financing budget. And when it's all said and done, we'll formulate a deal that is best for you.

Step 7 – Secure financing
After the deal is complete, you'll start working with your lender to close the loan. This shouldn't take long at all if you've been pre-approved, but you'll need to keep in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of getting your loan application. This estimate rests on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a narrow range of accuracy. I'll review the estimate and let you know if everything looks okay.

Then we'll close on your house. This should take place at a title company or escrow office and will probably be a smooth and relaxed affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just call me at (671) 647-5577 or e-mail me at .

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