Looking to buy a home in Tamuning? Latte Stone Properties, LLC can help.
Purchasing a home is intimidating for most people, but it isn't that complex with a bit of planning ahead of time.
I like to furnish buyers with a road map of the whole deal so they understand exactly what to expect.
These are my nine steps to purchasing a home.
Should you have any questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are many things you'll want to take into account before you start looking for a home.
You'll want to make a list of features you want, plan for what school districts you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your monthly income is a good rule of thumb to adhere to.
Step 2 – Talk to a real estate agent in Tamuning
This is where Latte Stone Properties, LLC comes in.
We'll schedule a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Tamuning area.
In addition, I'll help you facilitate the loan process.
There are some excellent mortgage professionals in Tamuning, and I work with a lot of them, so you'll be in great hands.
They can assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our first meeting, I'll start searching for houses on the market that are a good fit for you.
I'll research most of the homes and ignore the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
As we tour the houses, I'll show you the positive features, as well as negative ones. I'll also ask you about things you like and dislike.
For the most part, buyers amend their must-have list as we tour homes and some things become far more essential than others.
If that's the case, I'll look through all the listings again and trim it down to the home you've been dreaming about.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Tamuning housing market is an essential factor in your house search. And I can assure you I'm familiar with all the school districts and neighborhoods, and I can communicate what districts are "hot" and demand immediate action and some that are "cold" and allow for more examination.
As we tour houses, I'll make sure to communicate when the asking price has room for bargaining and also when I trust the house is "priced to sell."
Every real estate agent will convince you they understand the home market, but take notice, and be sure to ask plenty of questions.
If things don't add up, just call me at (671) 647-5577 or e-mail me at , and I'll be happy to answer your questions. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in the Tamuning area, and when that happens, I'll precisely develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When we submit your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is most often put towards the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer – it's widely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your budget. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Secure financing
Upon completion of the contract, you'll start working with your lender to close the loan.
If you're already pre-qualified, it won't take very long at all. But you'll want to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if everything looks okay.
Then we'll close on your home. This will probably occur at a title company or escrow office and will most likely be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at (671) 647-5577 or e-mail me at .