For many, a real estate purchase may be the biggest purchase of their lives. As a result, the buying process can seem daunting and difficult. We understand, which is why we want to assist and guide you through the process, starting with these simple tools.
- Determine what you can afford
What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. For a very basic calculation of your possible payments, feel free to checkout our mortgage calculator.
To better understand your financial capabilities and your options, consult a loan officer. Help to strengthen your offer(s) by getting pre-approved. Forward Realty has an affiliated relationship with Honolulu HomeLoans. Give Ryan Nakagawa (VP/Loan Manager) a call or email and start the process:
Guaranteed Rate (NMLS #2611)
Leonard Loventhal, SVP of Mortgage Lending (NMLS #318109)
- Figure out what you want and need.
Get a clear picture of exactly what you want and what you need in your new home. Number of bedrooms and bathrooms? Is a view or flat yard space more important? Clearly defining your wish list allows our team to better tailor your search criteria and focus on only those properties that meet a majority of your needs! Take a look at this wish list to help you narrow your parameters.
- Shop for a home and a neighborhood
You don’t just buy a home; you also buy the neighborhood it’s in. So it’s really important to consider how the neighborhood will affect your lifestyle. For instance, your drive time to and from work or if you have children, what are the schools like and how close are those schools? The quintessential three words of real estate…”location, location, location,” still applies in this market but as work trends and technology change your location may be expanding into other areas not previously thought of.
- Let’s go shopping
Once you’ve defined your financial capabilities and your preferred criteria for a property, let’s start the search! Your Forward Realty advisor will be able to set you up on an automatic email system directly linked to the Multiple Listing Service. This program will allow you to find out about new properties as soon as they hit the market! Your agent will research the properties, setup private showings, and accompany you to take a look!
- Make an offer
You have found a property you would like to purchase; it’s time to make an offer. Your Forward Realty advisor will examine the property condition, research the latest comparable sales data, and advise you on the market conditions so you can make an informed and prudent offer. Your agent is a fiduciary and will represent your best interests at all times.
- You’ve been accepted
Now that the Purchase Contract has been accepted the next phase of the process begins. We will open escrow and start the due diligence process. Your advisor will walk you through each step of the way, from home inspection, title report reviews, loan procurement, survey review, termite inspections, final walk through, and more. In this process, you will receive a timeline and receive updates from your agent and transaction coordinator so you are well informed of the contract milestones and contingencies.
Your purchase is closed but that doesn’t mean we are. Forward Realty want to be your real estate resource for life. Just as you have a doctor, lawyer or other professional services in your life, we want to be your resource for real estate. Call upon us for market updates, property valuations, referrals for qualified service people and more. We stand ready to help your family and friends with all their real estate needs as well!