Are you buying your new home in Tamuning? Latte Stone Properties, LLC can help.
With some up-front planning, buying a home isn't very complicated, but the event is stressful for a lot of people.
So they know exactly what to expect, I like to supply buyers with an overview of the entire deal.
Below 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 address questions you have regarding this information.
Step 1 – Get ready to purchase
There are several things you should contemplate before you search for a home.
You'll most likely want to assemble a checklist of features you want to have, plan for what school districts you want to live in, and start working on your budget.
Ensuring your mortgage payment is less than 1/3 of your net monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent
This is where Latte Stone Properties, LLC can help.
I'd love to plan a time to get together with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, schools in the Tamuning area, the mortgage industry, to any other economic factors that could potentially affect your buying decision today or in the future.
I can also help you start the loan process.
There are some great mortgage professionals in Tamuning, and I partner with a lot of them, so you'll be in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a home
After our first meeting, I'll begin looking for available houses on the market that are a good fit for you.
I'll preview many of the homes and throw out the duds, and then we'll schedule appointments to view the homes whenever it's convenient for you.
When we view houses, I'll identify positive features, as well as negative ones. I'll also ask you what things you like and dislike.
It's common for buyers to amend their must-have list as we view homes and some items become more substantial than others.
If that happens, I'll go back through all the listings another time and narrow it down to the house you've been waiting for.
Step 4 – Understand the housing market
Your agent's awareness of the Tamuning housing market is a necessary agent in your house search. And I assure you I'm conscious of all the school districts and neighborhoods, and I'll let you know which areas are "hot" and call for immediate action and others that are "cold" and allow for thoughtful analysis.
As we view homes, I'll make sure to communicate if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be on guard and be sure to ask lots of questions, as every REALTOR in Tamuning will convince you they understand the home market.
If it doesn't seem like they know everything, call me at (671) 647-5577 or e-mail me at , and I'll be happy to answer any questions you may have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Tamuning, and when we do, I'll precisely create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.
Upon sending in your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property. The amount is often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer – it's widely common to receive a counter offer. But don't let it discourage you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your budget. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Secure a loan
After we sign the final deal, you'll start working with your mortgage lender to close the loan.
It shouldn't take long at all if you're pre-approved, but you should to stay in close contact with your lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) of your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application.
This estimate depends on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy. I'll analyze the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and should be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at (671) 647-5577 or e-mail me at .