Buying or selling a home? Latte Stone Properties, LLC can help.
With a little up-front planning, purchasing a home isn't too hard, but the event is intimidating for a lot of people.
So they understand exactly what they can expect, I will furnish buyers with an overview of the entire deal.
Below are my nine steps to purchasing a home.
Should you have questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
Prior to beginning your home search, there are many things you need to do.
You'll probably want to create a checklist of features you need, get a feeling for what school districts and neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is around 1/3 of your monthly income is a good principle to go by.
Step 2 – Get in touch with a real estate agent
This is where Latte Stone Properties, LLC comes in.
We can schedule 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 neighborhoods, school districts in the Tamuning area, the mortgage industry, and any additional economic factors that could affect your purchase today or in the future.
I'll also help you get started on your loan.
There are some excellent mortgage professionals in Tamuning, and I partner with a lot of them, so you'll be in great hands.
They can assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Start house hunting
After our initial meeting, I'll begin searching for homes on the market that are good for you.
I'll research many of the houses and exclude the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
As we tour houses, I'll identify good features, as well as negative ones. I'll also ask you to point out what things you like and dislike.
It's widely common for buyers to update their must-have list as we tour homes and some features become far more important than others.
If that's the case, I'll look through the listings one more time and trim it down to the house you've been wishing for.
Step 4 – Know the housing market
Your agent's understanding of the Tamuning market is a leading component in your house search. And I assure you I'm familiar with all the neighborhoods and schools, and I can communicate which districts are "hot" and require prompt action and others that are "cold" and allow for careful consideration.
As we view houses, I'll let you know if the list price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions. Any real estate agent will claim to truly understand the housing market.
If it seems like they don't know everything, call me at (671) 647-5577 or e-mail me at , and I'd be happy to answer your questions. My understanding of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in Tamuning, and when that happens, I'll meticulously develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are getting financing, finishing the home inspection, and a clear title.
When turning in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's most often applied to the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer, and it's very common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a role in how aggressively we negotiate the contract.
In addition, we'll work within your budget. And when it's all said and done, we'll assemble a deal that works well for you.
Step 7 – Get financing
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, it won't take long at all. However, you need to stay in close contact with your mortgage lender.
And I'll deal with 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 closing costs from your lender within three days of accepting your loan application.
The estimate depends on the loan amount. RESPA requirements order that it has to involve all closing costs and be within a tight range of accuracy, and I'll examine the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will probably occur at a title company or escrow office and should be a smooth and stress-free event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at (671) 647-5577 or e-mail me at .