Buyers

Important Steps to Purchase Your Home

Buying a home is a very important decision you may make in your lifetime. The purchase process can be can be a very intimidating task, and at times overwhelming. Hawaii Home Properties will put together the following steps together to make you feel more knowledgeable about purchasing a home in Hawaii.

 

Mortgage Pre-Approval

Obtaining a pre-approval from a lender is the most important step in preparing to purchase a home. The pre-approval helps you find out the price range you can afford, the down payment required, estimated closing costs, monthly mortgage payments, interest rate and the suitable loan program for each property

 

Setting Up Your Home Search

We will assist you in setting up criteria you looking for on the Multi Listing Service (MLS) (price range, bed, bath, location, etc.). Our MLS database provide the data to Zillow, Trulia, other third parties, and it is important to know that the data on those third party sites are unregulated, and not always accurate. The MLS is tracked and monitored by the Realtors Association to ensure that all pricing, home specs, etc. are accurate.

 

Time to Look at Houses & Make Offer

After found out the Home you are looking for, we are going to offer with best of our client's interest and negotiate with a reasonable price and value for the property. Lender will also issue a revised pre-approval letter and estimated Closing Cost and Monthly Payment to ensure that you are able with the offering price.

4) You Have Found Your Home and Want to Make an Offer

You've found the home you want to buy and now it’s time to write up an offer. Your PPM Realty Buyers Agent will go through all comparable sales data to help you determine a reasonable home value and offering price. At this time your Lender will also issue a revised Pre-Approval, as well as Closing Cost & Monthly Payment Estimates to ensure you are comfortable with the offering price. Your PPM Realty Buyers Agent will then submit a signed offer with the Pre-Approval, reviewed and signed Sellers Disclosure, Consumer Notice, copy of your Escrow Money check & any other necessary disclosures or contingency forms.

 

What to expect in the contract?

Two most common contingencies for you to J-1 Inspection/Repair & Financial Contingency in case if your loan is not approved.

 

Preparing to Close

If required mortgage financing, your Lender issues a mortgage commitment, then they will send the escrow agent closing instructions and fees. From there, escrow will provide you with a final Closing Disclosure, which is an itemized list of all closing costs including lender fees, escrows, title and transfer charges. The Closing Disclosure will include a summary of all the costs associated with the sale and provide you with the total funds you'll need to bring to closing. After you are given with final amount, you will require to obtain a Cashier’s Check or funds can be wired directly to the Escrow.

 

Closing Time!

Once all paperwork is signed at escrow, the keys to the house are yours! 

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