Purchasing a new home in Tamuning?
Purchasing a home is a stressful event for most people. However, with a little planning ahead of time, it isn't that confusing.
So they understand exactly what they can expect, I'll provide buyers with an overview of the whole deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address questions you have about this information.
Step 1 – Get ready to buy
Before you start searching for a home, there are several things you need to contemplate.
You'll probably want to put together a checklist of must-have features, get an idea of what neighborhoods and school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than a third of your net monthly income is a good principle to go by.
Step 2 – Speak with a real estate agent in Tamuning
This is where Latte Stone Properties, LLC can help.
I'd like to plan a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the Tamuning area.
I'll also help you begin the loan process.
I work with some of Tamuning's finest mortgage professionals, so you'll be in great hands.
They can assist you with determining which type of loan is best for you and help you get qualified.
Step 3 – Begin house-hunting
Following our initial meeting, I'll start searching for homes on the market that are good for you.
I'll preview many of the houses and ignore the bad ones, and then we'll schedule appointments to view the houses whenever it's convenient for you.
As we tour the homes, 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.
As a rule, buyers update their wish list as we tour homes and some items become more essential than others.
If that's the situation, I'll look through all the listings once more and trim it down to the house you've been dreaming about.
Step 4 – Understand the market
My knowledge of the Tamuning home market is an essential factor in your house search. I am familiar with all the neighborhoods and schools, and I'll let you know which districts are "hot" and call for immediate action and others that are "cold" and allow for careful consideration.
As we tour houses, I'll make sure to communicate when the seller's asking price has room for negotiation and when I think the house is "priced to sell."
When working with an agent, trust your instincts and be sure to ask lots of questions. Every real estate agent in Tamuning will tell you they truly understand the housing market.
If things don't add up, contact me at (671) 647-5577 or e-mail me at , and I'll be happy to answer any questions you have. My knowledge of the market will keep you a step ahead through the entire process.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in Tamuning, and when that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as getting financing, carrying out the inspection, and a clean title.
When sending in your offer, you'll likely want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is usually put towards the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer, and it's very common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Secure your loan
After we sign the final sales contract, you'll begin working with your lender to close the loan.
If you're pre-qualified, it shouldn't take much time at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll care for all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) of your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your loan application.
The estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and be within a narrow range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should happen at a title company or escrow office and will most often be a smooth and peaceful occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you contact me at (671) 647-5577 or e-mail me at .