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 confusing with a little up-front planning.
I like to supply buyers with a road map of the whole deal so they'll know exactly what to expect.
Here are my nine steps to buying a home.
If you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are a lot of things you'll want to do before starting your home search.
When you begin your search, you'll probably want to assemble a checklist of features you want to have, get a plan of what neighborhoods and school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Contact a real estate agent
This is where Latte Stone Properties, LLC comes in.
We can arrange 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 discuss the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Tamuning area.
I can also help you get started on your loan.
There are some excellent mortgage professionals in Tamuning, and I work with a lot of them, so you're in great hands.
They will assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Start looking for a home
After our first meeting, I'll start looking for houses on the market that are a good fit for you.
I'll research many of the houses and remove the bad ones, and then we'll book appointments to tour the houses when it's most convenient for you.
As we view houses, I'll call attention to good features, as well as bad ones. I'll also ask you what things you like and don't like.
It's pretty common for buyers to amend their list of must-haves as we view houses and some items become more essential than others.
If that's the situation, I'll search all the listings another time and narrow it down to the house you've been dreaming about.
Step 4 – Get a grasp of the housing market
An agent's knowledge of the Tamuning market is a leading factor in your home search. And I can assure you I'm acquainted with all the neighborhoods and school districts, and I can communicate certain areas are "hot" and require immediate action and the ones that are "cold" and allow for more analysis.
As we view houses, I'll be sure to tell you when the seller's list price has room for bargaining and also when I think the house is "priced to sell."
When working with an agent, be on guard and be sure to ask plenty of questions, as any real estate agent will tell you they truly understand the home market.
If things don't add up, just 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 throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in the Tamuning area, and when that happens, I'll meticulously create your purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.
Upon sending in your offer, you'll need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property. The amount is often put towards the closing costs. If the offer is accepted, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the beginning offer. It's very common to receive a counter offer. But don't let it alarm you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Obtain a loan
Upon signing the contract, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all, but you'll want to stay in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and be within a precise range of accuracy, and I'll study the estimate and let you know if it all looks adequate.
Then we'll close on your home. This will most often happen at a title company or escrow office and is often a smooth and peaceful 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 .