A Plan for Military Transferees Moving Honolulu
February 10th, 2009 categories: For Buyers, Military
If you are in the military and your orders have you moving to Honolulu, here is an 8 step plan to help you make your move smooth and easy.
1. Select a real estate broker. This selection is really important. Your agent will become your eyes and ears on the ground. An experienced Realtor can help with advice as to neighborhoods and available housing that are going to best meet your current budget and home needs. Part of the advice will be an eye to the future as most transferees will move again, and buying right on the front end will be the key to being able to sell on the back end.
2. Confirm the amount of your Basic Allowance for Housing (BAH). You may be surprised by the amount available to you! The lowest amount without a dependent is currently $1,555 and the highest amount with a dependent is $3,401. At an interest rate of 5.5% and an amortization term of 30 years, the payment for every $100,000 in loan is approximately $567.00 per month. So the minimum BAH will carry a loan of $274,000. Be sure to check if you qualify for a VA loan too. CLICK HERE TO CHECK YOUR BAH.
3. Pick a lender and make a complete loan application. By applying for the loan in advance, you will be in a position to close the sale much quicker. There are two distinct benefits getting under written in advance.
a. You will be in a position to close more quickly and, therefore, your home will be ready for occupancy sooner.
b. Being able to close more quickly puts you in a much stronger negotiating position! Sellers may further discount the price for a quicker sale.
4. Plan a full day to see property. When you arrive on Oahu, plan on spending an entire day looking at as many homes and neighborhoods as humanly possible. At the end of this grueling day, you will have a very good understanding of the available houses and/or condos that best meet your needs. There will be a few homes that will look better than all of the rest, make note of these homes and go to step 5 or 6.
5. Go out a second day. This day will not be as long as the first day, but you will want to go back to the homes that stood out the first day. Also, based the first day, your broker may be able to find a few more homes that could work for you. See these homes too.
6. Pick the best of the best and make an offer.
7. Plan your move in to the home. Once an offer is accepted, it will take 30 to 45 days to close the sale. In Honolulu real estate, you can plan on moving in the morning that the sale is closed.
8. Move in, settle down and enjoy living in Hawaii!
CLICK HERE TO SEARCH FOR HOMES ON OAHU
Call me at 808-737-2093 or toll free at 877-737-2093 to interview me to help with your plan. You can email me at keahi@lava.net too.
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Great post, thanks for the info
Thanks for posting such kind of usefull information.Keep Posted in future as well.Thank you!