Are you contemplating purchasing a new home in Tamuning?

Buying a home is stressful for many people, but it isn't very difficult with some up-front planning. I like to furnish buyers with an overview of the whole deal so they understand exactly what to expect. Here are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer questions you have about this information.

Step 1 – Prepare to purchase
There are a lot of things you'll want to contemplate prior to starting your home search. You'll probably want to create an index of features you want to have, get an idea of what neighborhoods you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good rule of thumb to go by.

Step 2 – Connect with a real estate agent in Tamuning
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 future plans. We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Tamuning area.

In addition, I'll help you facilitate the loan process. Latte Stone Properties, LLC works with some of Tamuning's best mortgage professionals, so you can rest assured that you're in great hands. They will help you decide which type of loan is best for you, as well as help you get approved.

Step 3 – Begin house-hunting
After we meet, I'll start searching for houses on the market that are a good fit for you. I'll preview most of the houses and remove the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.

As we view the homes, I'll show you the good features and bad ones. And I'll ask you to point out what things you like and dislike. Most often, buyers revise their wish list as we tour houses and some features become far more important than others. If that happens, I'll go back through all the listings another time and trim it down to the home you've been waiting for.

Step 4 – Get a grasp of the housing market
An agent's understanding of the Tamuning market is a fundamental component in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I can communicate which areas are "hot" and warrant immediate action and others that are "cool" and allow for careful consideration.

As we view houses, I'll let you know if the list price has room for bargaining or if I believe the house is "priced to sell." Trust your instincts and be sure to ask a lot of questions, as every REALTOR in Tamuning will tell you they know 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 more than happy to answer any questions you might have. My market knowledge will keep you a step ahead throughout the entire deal.

Step 5 – Find the house you've been waiting for
I'm certain we'll find your dream home in the Tamuning area. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies, such as getting financing, finishing the home inspection, and a clean title.

Upon sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property and is typically put towards the cost of closing. If your offer is accepted by the seller, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer – it's really common to receive a counter offer. Don't let this intimidate you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

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

Step 7 – Get a loan
After we sign the final contract, you'll start working with your lender to close the loan. If you've been pre-approved, this won't take much time at all. However, you'll want to stay in close contact with your lender. And I'll manage all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application. The estimate rests on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if it all looks good.

Then we'll close on your house. This will most often take place at a title company or escrow office and should be a smooth and easygoing occurrence.

Step 9 – Move in
Congratulations! It's time to 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 .