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FINANCING FOR LIFESTYLE AND BUDGET

With your financing arranged prior to offering to purchase, you will enjoy a stronger negotiating position. Sellers will know you are a serious potential buyer!

Loan products and programs are available! Locally based lending institutions and credit unions understand the unique Hawaiian real estate market. To have a successful transaction and fulfill the financing terms of a purchase contract, Buyer and Seller will need to know :

  1. Does the lender have a team of processors and underwriters who will get all of the paper work completed?
  2. Will the lender stay in touch with all parties in the transaction?
  3. Will the lender provide documents to escrow in a timely manner?
  4. Does the lender have an excellent success record in loans closed?
  5. Will Buyers and Sellers have the necessary funds associated with the business (settlement) costs?
  6. Will the Escrow (Settlement) Officer insure that no funds or property change hands until all escrow instructions have been followed to completion?

Resource Links for Financial and Business Information:

bullet Current Mortgage Rates  
bullet Department of Taxation
bullet Central Pacific Bank
bullet Bank of Hawaii
bullet Glossary
 
bullet
bullet MetLife Home Loans
  Ron Li , Direct 808-275-8017
  Rli@metlifehomeloans.com
 
bullet
bullet Old Republic Title & Escrow
  Quentin Chun, Branch Manager
  Direct 808-483-0130  
  QChun@ortc.com  

ESCROW is a third party who receives, processes, and closes a transaction according to specific information received form all parties in a transaction. All escrows are different according to the type of property and complexity of the transaction. Usually the cost of escrow (settlement) services is based on the gross sales price and divided equally between Buyer and Seller. Buyer and Seller also will have an accumulation of such charges as invoices, taxes, insurance, survey, and other services and fees that may be associated with their transaction obligations. Closing funds must be in the form of a cashier's check or wired funds made payable to the escrow company.

FORECLOSURE
An Uphill Real Estate Adventure

Buying a foreclosure is a different way of doing real estate . Several factors set foreclosures apart from traditional sales transactions. In a foreclosure, the seller has no emotional attachment to the property. For the bank seller. it is strictly a business decision.

Bank seller will have many additional forms and requirements than in a traditional sale. In most cases agents and buyers will be dealing with an asset manager who rarely has any authority to make a decision and buyer will have to wait to get answers from someone or a committee . bank sellers traditionally take a much longer time to respond to an offer. If there are several offers, time will be even longer for evaluation of each one. Buyer is required to take the property in as is condition. Banks do not pay for inspections, replacements, repairs, haul and dump, and landscaping .

It takes a special kind of buyer to purchase a bank owned property. Is foreclosure for you? If you are prepared to tackle the project, make certain than the lender will fund on the project and that cash is available for repairs and unforeseen surprises such as bats in the attic. If you are investor, i will be easier walking away than will a primary residence buyer who is emotionally invested in the outcome.

 
YOU MAY HAVE SOME CONCERN ABOUT THE CONFIDENTIALITY OF THE INFORMATION YOU PROVIDE. ROXANNA'S POLICY AND PROMISE WILL KEEP YOUR PERSONAL AND BUSINESS MATTERS CONFIDENTIAL!


Faith Realty, LLC.
98-211 Pali Momi Street, Suite 822
Aiea, Oahu,Hawaii 96701
roxanna@hawaiiantel.net
808-488-0185

bullet808-488-0185
bulletroxanna@hawaiiantel.net
bullet98-211 Pali Momi Street, Suite 822 Aiea, Oahu, Hawaii 96701

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