Buying or selling a home? Latte Stone Properties, LLC can help.
Buying a home intimidates most people. However, with some planning ahead of time, it's not all that difficult.
I like to give buyers an overview of the entire deal so they'll know 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 happy to address questions you have regarding this information.
Step 1 – Prepare to buy
Prior to beginning your home search, there are plenty of things you need to contemplate.
When you start your search, you'll probably want to make an index of items you need, get a plan of what school districts and neighborhoods you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good principle to follow.
Step 2 – Get in touch with a real estate agent
That's where I come in.
We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Tamuning area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
I can also help you start the loan process.
Latte Stone Properties, LLC works with some of the best mortgage professionals in Tamuning, so you can rest assured that you're in great hands.
They will assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Start house-hunting
Following our initial meeting, I'll begin looking for houses on the market that are good for you.
I'll research most of the houses and remove the duds, and then we'll schedule appointments to view the houses at a time that's convenient for you.
When we view homes, I'll show you the good features and bad ones. And I'll ask you about things you like and dislike.
It's common for buyers to amend their must-have list as we tour homes and some features become more crucial than others.
If such is the case, I'll search all the listings once again and trim it down to the house you've been waiting for.
Step 4 – Understand the housing market
An agent's understanding of the Tamuning market is a necessary aspect in your house search. And I can assure you I'm informed of all the school districts and neighborhoods, and I can communicate which areas are "hot" and call for immediate action and the ones that are "cold" and allow for more analysis.
As we tour homes, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and make sure you ask plenty of questions, as any REALTOR in Tamuning will claim to comprehend the home market.
If things don't add up, call me at (671) 647-5577 or e-mail me at , and I'll be happy to answer any questions you might have. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the home of your dreams
I'm sure we'll find the home of your dreams in Tamuning. When we do, I'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as getting financing, completing the home inspection, and a clean title.
Upon presenting your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property and is most often put towards the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer – it's widely common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a contract that's best for you.
Step 7 – Get financing
Upon signing the deal, you'll start working with your lender to close the loan.
This shouldn't take long at all if you're pre-approved, but you should to stay in close contact with your mortgage lender.
And I'll handle all the property information your mortgage 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 accepting your application.
This estimate depends on the loan amount. RESPA requirements order that it has to include all closing costs and be within a close range of accuracy, and I'll examine the estimate and let you know if everything looks good.
Then we'll close on your home. This will most likely occur at a title company or escrow office and should be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to call me at (671) 647-5577 or e-mail me at .