The first step in purchasing a home is to consult with a Loan officer to determine what you can afford and are willing to pay.

• Pre-Approval
  • The lender will take all pertinent information regarding your finances and perform and extensive check on your current financial status. This will also determine the amount of cash needed for a down payment and closing costs.
  • This will ultimately give you the exact amount that you will be eligible for (depending on what type of loan you decide to go with).
  • Being pre-approved lets the seller know that you have gone through and extensive financial background check and there should be no unexpected obstacles to buying the home.

By analyzing your needs you will be able to get a clear picture of exactly what you want in your new home.

• First, you should write down why you are looking for a new home.
  • Are you currently renting and would like to have a home where you can begin building equity?
  • Are you recently married and have outgrown your current residence.
  • Maybe you have just gotten a promotion which requires you to move to a new city. These factors will all have a bearing on how you approach your home search.
• Second, establish a time frame that you would like to stay within for buying your home
• Finally, have a mental picture of what you would like your house to look like.
  • What kind of features it should have.
  • How many bedrooms?
  • Write these ideas down to avoid any ambiguity later in your home search.
• Create two lists: one should be a list describing your dream home and the other should list the features of the home that are an absolute must have in order to buy it.
• These are your "Want" and "Need" lists. In a perfect world, your new home would fulfill both lists. However, it is more likely that you will end up blending the two lists into a schedule of prioritized items as you progress through the buying process.
• Share the "Want" and "Need" lists with your agent. Your agent will be able to help you organize your wants and needs.

People don't just buy a house, they buy the neighborhood the house is in. If you found the perfect house but it was in a neighborhood that was not to your liking, would you make an offer on it? Most likely the answer would be, "No."

• Your Marcus agent can provide you with an up-to-date list of available properties that possible meet your criteria and your agent will screen these properties for you.
• When you find one that you like, your agent can arrange for you to view the property when it is convenient for you.
• Your agent's experience in the local market will be an invaluable resource during this step.

Now that you have found the home you would like to purchase, it's time to make an offer.

Your agent will be able to expertly advise you on how to create an offer that will have the best chance of being accepted. The contract should protect your interests and should be comprehensive in nature. The purchase contract should include the following:

• The offering price
• Financing arrangements
• The settlement or closing date
• Any relevant contingencies

The key to successful negotiating is keeping in mind that the end result must make both of you, the buyer, and the seller happy. Your agent will represent your best interests and can negotiate on your behalf. He or she has the knowledge and expertise necessary to make sure that your offer is accepted at the best price and terms possible for you.

After your offer has been accepted, the following contingencies may apply:

• Financing
• Home Inspection
• Review of Seller's Disclosure
• Review of Subdivision/Condominium Documents/Title Report
• Appraisal of the property
• Survey of the property
• Pest and termite inspection
• Final walkthrough

Closing is where ownership of the home is legally transferred from the seller to the buyer, in Hawaii this occurs when the fully executed conveyance documents are recorded with the State Bureau of Conveyances.

A minimum of three days prior to recordation, a couple of appointments will be scheduled. The first will be with the lender to sign your loan documents. The second will be at the escrow or Title Company's office where the escrow closing officer will coordinate the document signing and the collection of funds (down payment and closing costs).

In order for the closing to go smoothly, the buyer will be notified in advance as to the amount he or she will be required to pay. The buyer will be advised to of the form of acceptable payment, which is either a certified check or a cashier's check.

Your Marcus agent will be present at the closing to answer any questions or help to resolve any issues that may occur. Your agent will also be available to manage any last minute or unexpected details that come up.

Congratulations on the purchase of your new home! Now that you have taken ownership of the property you will need to have your local services such as electricity, cable, and phone set up. Here's a check list of items.

Address Change For The Following:

• Post Office
• Charge Accounts, Credit Cards
• Subscriptions: Notice requires several weeks
• Financial Institution
• Insurance
• Utilities
• Friends and Relatives