Let Latte Stone Properties, LLC assist you with purchasing your new home in Tamuning
Purchasing a home intimidates many people, but it isn't all that difficult with a bit of planning ahead of time.
So they'll understand exactly what they can expect, I will provide buyers with an outline of the whole deal.
Below are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are plenty of things you need to take into account before you start looking for a home.
You'll want to create a checklist of features you need, get a feel for what neighborhoods 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 1/3 of your monthly income.
Step 2 – Connect with a real estate agent
That's where I come in.
We can plan 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 talk about everything from neighborhoods, school districts in the Tamuning area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.
I can also help you facilitate the loan process.
There are some great mortgage professionals in Tamuning, and I work with a lot of them, so you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
After we meet for the first time, I'll begin searching for houses on the market that meet your needs.
I'll get a sneak peek of many of the houses and exclude the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.
When we tour the homes, I'll show you the good features and negative ones. I'll also ask you to talk about things you like and don't like.
Frequently, buyers change their must-have list as we view houses and some items become more crucial than others.
If that's the case, I'll look through the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My knowledge of the Tamuning housing market is an imperative agent in your home search. I'm mindful of all the school districts and neighborhoods, and I'll let you know what districts are "hot" and warrant prompt action and the ones that are "cold" and allow for careful analysis.
When we view houses, I'll let you know when the list price has room for negotiation and when I think the home is "priced to sell."
Be careful and make sure you ask plenty of questions, as every real estate agent will claim to understand the home market.
If things don't add up, contact me at (671) 647-5577 or e-mail me at , and I'd be happy to answer any questions you may have. My market expertise will keep you a step ahead through the entire process.
Step 5 – Find the home of your dreams
We'll find the house of your dreams in the Tamuning area, and when that happens, I'll carefully develop your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, completing the home inspection, and a clean title.
When we turn in your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property, and it's most often applied to the closing costs. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the beginning offer – it's extremely common to receive a counter offer. But don't let this intimidate you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your financing budget. And at the end of the day, we'll put together a deal that's best for you.
Step 7 – Obtain financing
Upon finalizing the deal, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't be a long process at all, but you need to stay in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your application.
This estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and is often a smooth and stress-free affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just call me at (671) 647-5577 or e-mail me at .