Buying or selling a home in Tamuning? Latte Stone Properties, LLC can help.
Purchasing a home is intimidating for many people, but it isn't too complex with a little up-front planning.
I like to furnish buyers with an overview of the whole deal so they'll understand exactly what they can expect.
These 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 glad to answer any questions you have about this information.
Step 1 – Get ready to purchase a home
Before you begin looking for a home, there are plenty of things you should consider.
You'll probably want to make a checklist of features you need to have, get a feeling for what school districts and neighborhoods you'd like to live in, and begin working on your budget.
A good guideline to go by is that your mortgage payment should be 30 percent of your net monthly income.
Step 2 – Get in touch with a real estate agent in Tamuning
That's where I come in.
I'd love to set up a time to meet with you and communicate with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Tamuning area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
I work with some of the best mortgage professionals in Tamuning, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After we meet, I'll start looking for houses on the market that suit your needs.
I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll set up appointments to view the homes at a time that's convenient for you.
When we tour homes, I'll call attention to good features, as well as bad ones. I'll also ask you what things you like and dislike.
As a rule, buyers amend their list of must-haves as we tour homes and some items become far more substantial than others.
If that's the case, I'll search all the listings another time and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My awareness of the Tamuning market is a necessary element in your home search. I am mindful of all the neighborhoods and schools, and I will let you know some areas are "hot" and require prompt action and some that are "cold" and allow for thoughtful examination.
As we tour houses, I'll let you know when the asking price has room for bargaining and when I know the house is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions. Any REALTOR in Tamuning will claim to understand the housing market.
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 have. My market knowledge will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been looking for
I'm positive we'll find your dream house in the Tamuning area. When we do, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.
Upon turning in your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the home seller to secure an offer to purchase the property and is typically applied to the closing costs. If the offer is accepted by the seller, 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 initial offer – it's really common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market circumstances.
In addition, we'll work within your financing budget. And at the end of the day, we'll put together a contract that's best for you.
Step 7 – Secure financing
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take very long at all, but you need to keep in close contact with your lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of getting your application.
This estimate is based on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will likely take place at a title company or escrow office and is often a smooth and relaxed event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at (671) 647-5577 or e-mail me at .