Buying or selling a home?
Purchasing a home is a stressful event for many people. However, with a bit of planning ahead of time, it's not very complex.
So they understand exactly what they can expect, I'll supply buyers with an outline of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to purchase
Before you start your home search, there are several things you need to take into account.
When you begin your search, you'll probably want to make a checklist of features you need, get a plan of what neighborhoods you'd like to live in, and begin working on your budget.
A good guideline to follow is that your mortgage payment should be less than or around a third of your monthly income.
Step 2 – Connect with a real estate agent
This is where I can help.
I'd be more than happy to plan a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Tamuning area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
I'll also help you start the loan process.
There are some excellent mortgage professionals in Tamuning, and I work with a lot of them, so you're in great hands.
They can assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
After our first meeting, I'll start finding homes on the market that meet your needs.
I'll research many of the houses and ignore the bad ones, and then we'll book appointments to view the homes whenever it's most convenient for you.
When we tour houses, I'll show you the positive features, as well as negative ones. I'll even ask you to talk about things you like and don't like.
For the most part, buyers revise their wish list as we view houses and some things become far more essential than others.
If that happens, I'll look through the listings one more time and narrow it down to the home you've been wishing for.
Step 4 – Understand the housing market
Your agent's understanding of the Tamuning home market is a crucial aspect in your home search. And I can assure you I'm informed of all the schools and neighborhoods, and I can communicate some districts are "hot" and demand prompt action and some that are "cool" and allow for more consideration.
As we tour houses, I'll be sure to tell you when the list price has room for negotiation and when I trust 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 know the home market.
If things don't add up, contact me at (671) 647-5577 or e-mail me at , and I'd be more than happy to answer your questions. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream house
I'm positive we'll find your dream house in the Tamuning area. When that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as acquiring financing, completing the inspection, and a clear title.
When turning in your offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property and is most often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the beginning offer, and it's really 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, propose our own counter offer, or reject the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your budget. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Get a loan
Upon signing the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, it shouldn't take long at all. However, you need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your loan application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a strict range of accuracy. I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will probably be a smooth and stress-free event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at (671) 647-5577 or e-mail me at .