Contemplating buying your home in Tamuning?

With a little planning ahead of time, purchasing a home isn't very complex, but the event intimidates many people. I like to provide buyers with an outline of the entire deal so they know exactly what to expect. Below are my nine steps to purchasing a home. Should you have any questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .

Step 1 – Prepare to purchase a home
Prior to starting your home search, there are a lot of things you'll want to do. You'll probably want to put together an index of items you need, get a feeling for what school districts you want to live in, and start planning your budget. A good principle to go by is that your mortgage payment should be close to a third of your monthly income.

Step 2 – Get in touch with a real estate agent
This is where Latte Stone Properties, LLC comes in. We can schedule 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 talk about neighborhoods, school districts in the Tamuning area, the mortgage and housing industries, 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 very good mortgage professionals in Tamuning, and I work with a lot of them, so you're in great hands. They will help you choose which type of loan is best for you, as well as help you get qualified.

Step 3 – Start house hunting
After our first meeting, I'll start searching for homes on the market that meet your needs. I'll preview many of the houses and remove the bad ones, and then we'll book appointments to tour the houses at a time that's convenient for you.

When we tour the houses, I'll call attention to good features, as well as bad ones. And I'll ask you to tell us about things you like and dislike. Usually, buyers update their wish list as we view houses and some things become far more essential than others. If that happens, I'll go back through the listings again and narrow it down to the house you've been waiting for.

Step 4 – Get a grasp of the housing market
My understanding of the Tamuning housing market is a necessary component in your home search. I'm familiar with all the neighborhoods and school districts, and I can communicate which neighborhoods are "hot" and warrant immediate action and some that are "cool" and allow for more consideration.

When we view homes, I'll make sure to communicate when the asking price has room for negotiation and when I know the house is "priced to sell." Be on guard and make sure you ask a lot of questions, as any real estate agent will tell you they understand the housing market. If things don't add up, call me at (671) 647-5577 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 through the entire process.

Step 5 – Find your dream house
We'll find the house of your dreams in Tamuning, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as getting financing, finishing the home inspection, and a clean title.

When presenting your offer, you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property. The amount is often applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's very common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and move on.

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

Step 7 – Secure a loan
After the contract is finalized, you'll start working with your lender to close the loan. If you're already pre-qualified, this shouldn't take much time at all. But you'll want to stay in close contact with your lender. And I'll deal with all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your loan application. The estimate rests on the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.

Then we'll close on your home. This will probably take place at a title company or escrow office and will likely be a smooth and comfortable occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you contact me at (671) 647-5577 or e-mail me at .

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