Let Latte Stone Properties, LLC assist you with buying a new home in Tamuning
Buying a home intimidates many people, but it isn't too confusing with some up-front planning.
I like to give buyers a road map of the whole deal so they understand exactly what to expect.
Below are my nine steps to buying a home.
Should you have 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 – Prepare to purchase a home
There are several things you need to contemplate prior to starting your home search.
You'll probably want to put together an index of items you want, get a plan of what school districts and neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is around a third of your monthly income is a good rule to follow.
Step 2 – Speak with a real estate agent in Tamuning
This is where I come in.
I'd be more than happy to book a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Tamuning area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll help you start the loan process.
I work with some of the finest mortgage professionals in Tamuning, so you're in great hands.
They'll help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
After our initial meeting, I'll begin searching for available houses on the market that are great for you.
I'll research many of the homes and exclude the duds, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we tour the homes, I'll show you the good features, as well as negative ones. I'll even ask you to talk about things you like and dislike.
It's pretty common for buyers to revise their list of must-haves as we tour homes and some items become far more substantial than others.
If such is the case, I'll search the listings another time and trim it down to the house you've been waiting for.
Step 4 – Know the housing market
An agent's awareness of the Tamuning home market is an imperative aspect in your home search. And I assure you I'm acquainted with all the schools and neighborhoods, and I will let you know what districts are "hot" and call for prompt action and the ones that are "cold" and allow for thoughtful examination.
When we view homes, I'll let you know if the asking price has room for bargaining or if I believe the house is "priced to sell."
Every REALTOR will tell you they know the home market, but be wary, and make sure you ask your agent plenty of questions.
If it doesn't seem like they know everything, call me at (671) 647-5577 or e-mail me at , and I'd be happy to answer any questions you might have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm certain we'll find the house of your dreams in the Tamuning area. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When we turn in your offer, you'll probably want to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property. The amount is usually applied to the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer – it's pretty common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a role 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 contract that is best for you.
Step 7 – Obtain a loan
After we sign the final contract, you'll start working with your mortgage lender to close the loan.
This shouldn't take very long at all if you're already pre-qualified, but you need to stay in close contact with your lender.
And I'll handle all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your loan application.
This estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy, and I'll review the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most often occur at a title company or escrow office and should be a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. 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 .