Buying house is a major decision you need to make. If you plan to move to Wailea, you need to take some time to do research in the real estate market. If you are familiar with the home buying process, you will be able to reduce the stress level. Many buyers neglect to ask the lenders questions when buying houses in Hawaii. Before shopping for a house, you should ask the bank to pre-approve you. It is very important to get pre-approved. If you are pre-approved, it will be easier to negotiate with the seller. It gives you an assurance that you will obtain the mortgage. You must ask the lender about the duration it takes to get your loan application approved. If your loan application is approved quickly, the seller will be able to close the deal in your favor.
The lender should offer low adjustable rate mortgage. You have a higher chance of getting qualified for the loan if the adjustable rate mortgage is low. Even if you choose not to take up the mortgage, you will have an additional line of credit in the pocket. You should compare the costs of the mortgages between different lenders including application fees and interest rates. You should take a few minutes to ask all the questions you have in your mind. In this way, you will be in a more favorable position to negotiate with the seller.
When buying a new house in Wailea, you should get help from a real estate agent. The real estate agent should be licensed. The real estate agents in Wailea can represent the buyer or seller. A real estate agent that represents both the seller and buyer is called dual agency. The real estate agent should keep all your information confidential. He should present the offers to sellers promptly. If you ask any question, the real estate professional should provide accurate answer to the question.
When you visit a house, you must check the overall condition. Under Hawaii law, the seller has the responsibility to disclose about the defects in the house. The seller should provide information about the defects in household systems such as plumbing, water leakage, termites, roof, drains, and lad paint. After you have found a house, you must put down your signature on the purchase and sale agreement. The purchase and sale agreement should provide information such as financing arrangements, condition of the property, settlement cost, closing date, possession date and down payment.
