1. Within 7 days of your offer being accepted you need to have your home inspection if you choose to have one. We strongly suggest you do. Team Lally can make recommendations for inspectors. If this is a bank owned or short sale property, check withyour buyer specialist to see if Utilities are on. If they are not on, you might have to turn them on in your name if the bank is not willing to do so. This is not unusual.
2. If you are satisfied with the inspection, you will notify your lender and tell him to order your appraisal if he/she has not done so yet. If you are not satisfied, your buyer specialist can help you to renegotiate with the seller for a credit or repairs. Or at this point you can simply cancel.
3. It usually takes 3-5 days from the date your lender orders the appraisal for the appraiser to schedule and conduct the appraisal.
4. The appraisal takes 3-10 days for the results to be revealed. With VA appraisals expect 2-3 weeks.
5. During this time your lender should have all of the required documents. It’s best to check with your lender to confirm he/she has everything they need.
6. You should call to get homeowners insurance quotes at this time. It’s best you send your insurance agent the MLS info sheet. If you don’t have one, ask our Closing Coordinator for the “MLS Info Sheet”. This will prevent your insurance agent from asking you a million questions about the home. *If you need a recommendation for an insurance agent let us know. We have a great one that we work with.
7. When you’re about 3 days away from closing you should call the Gas, Electric and Water Company and ask to “Transfer Utilities” for the date of your closing. Here is the contact info:
The Gas Company: 808.535.5933
Hawaiian Electric Company: 808.548.7311
Board of Water Supply: 808.748.5000
8. You should do a “Final Walkthrough” of the property you are purchasing within 24 hours before closing to confirm the property is in the same condition that it was in when you agreed to purchase the property. If for some reason your Realtor doesn’t contact you, please reach out to them to get this scheduled.
9. For the day of closing you will need your driver’s license for all signers and a Cashiers Check for the amount you are required to bring to closing. Your lender will be the one to give you the amount you will need to bring to closing. The Cashiers Check should be made out to the title company. This is very important. It must be a Bank Cashiers Check and it must be made out to the title company.
10. If your name is on the purchase agreement, you will need to be present at the closing or have signed a power of attorney for someone to sign on your behalf. If you are doing a power of attorney, you will need to notify our closing department and your lender at least seven days prior to closing.
11. The day before closing or sometimes even the day of, you should be in communication with your lender because they will tell you exactly how much you need to bring to closing. Don’t be alarmed or upset if you get this number the day of closing or even an hour or two before closing. This is very common. For whatever reason, the banks wait until the last minute to gather final numbers. It’s not your lenders fault; there is a lot of coordination in the final hours between Title Company and lender preparing all of the documentation and HUD 1 Closing Statement.
12. Closings are typically done Monday through Friday between 9:00 a.m. and 4:00 P.M. The closing should take 1 to 3 hours depending on if everyone is on time and whether or not the loan funds right away. If this is a late closing say 3:00 or later, there is a very good chance it will not fund until the next day. In Hawaii the recording of property or official title transfer typically will be completed 2 days after signing.
1. If I find items during the inspection that are broken or need to be repaired can I ask the seller to repair or replace?
Yes, you can ask for the items to be repaired, replaced or you can ask for a credit towards closing costs or a price reduction for an estimated amount and then you will assume the repairs and work needed to be done.
2. If I get denied on my loan will I get my earnest money deposit back?
Yes you will, assuming your purchase agreement has a mortgage contingency. Most do.
3. What if the home doesn’t appraise for what we offered them?
If the home doesn’t appraise you are back to the negotiating table trying to find a price that everyone agrees to.
4. Can I pay over the appraised value if I want to?
Yes you can, more times than not, it is a compromise between the buyer and seller. However anything you pay over the appraised value is that much more than your required down payment that you will need to bring to the closing.
“Adrienne and Atillio knew the urgency in selling our home and worked so quick that at times I was overwhelmed. When they got a buyer, their team Member Howard Nett was so helpful in keeping us informed and updated as to how things were progressing and things we needed to do, that it made this whole process comfortable for us. We are VERY satisfied with their services. We recommend Team Lally when you are looking to sell your home.”
“As first-time home buyers, I couldn’t have asked for a better realty than Team-Lally!Three months prior to moving to Hawaii from the mainland, we began our search online by looking at pictures and viewing videos of current listings in Kaneohe and Kailua. We were so fortunate to have Team Lally as our agent. Team Lally was knowledgeable, patient, and honest; they even went out of their way to record videos of a few homes. Via e-mail and over the phone, they addressed all my questions and concerns. By the time we arrived, we were so well prepared and closed on the house we wanted in no time! If we buy or sell again, we are definitely calling Team Lally”
“Aloha, I am in the Coast Guard and my husband is a self employed landscaper, together we are very hard workers, but we aren’t the only ones. Team Lally is a hardworking real estate team who deliver exception customer service, care about their customers needs, remain patient and cater to customers ultimate desire. We purchased a beautiful home in Makakilo August 2012. When Team Lally showed us the house for the first time, we said “this is the one we want and we will wait a year if we have to.” Team Lally understood our end desire, accommodated us, and didn’t try to detour us into another purchase. They remained patient and informative through the short sale process and in the end, six months later, we got the house we wanted and felt relieved that we had an outstanding team who assisted us in making our dreams come true. Thank you Team Lally, I will always refer your team and I hope others will trust in your team as we did. Mahalo Crystal & Sandro”
“Team Lally embraces the team concept while staying professional. They were totally accessible, day or night, and they supported me through a very stressful process. Communication is key and Team Lally understands this completely.”
“The Agents at Team Lally are experts in their field. Whether you’re looking to sell your home or buy one, these guys have a great team to take care of you throughout the entire transaction. Even if you looking just to get more information – I’d suggest to give them a ring and they can point you in the right direction.”
Sold a Condo home in 2013 in Kapolei, HI.
- I walked away from my property three years ago and assumed that it would get foreclosed upon or just disappear….Three years later I was contacted by a tenant that was being rented the condo from a company that was operating illegally and claimed to have ownership of it….I contacted Team Lally and they were able to navigate these very difficult waters: me not having paid my mortgage for three years, a company claiming ownership, the condo association not happy because they were not paid for three years…Team Lally worked through all of this to complete a short sale of the property and I paid virtually nothing…I worked with other real estate companies in the past and Team Lally blows them away, I would highly recommend them for all your real estate needsView this testimonial: http://www.zillow.com/profile/Team-Lally/Reviews/
“Aloha! I have worked with Adrienne for several years. She is the hardest worker and the most knowledgeable realtor I know. And there is nobody better than Team Lally when it comes to Short Sales! That’s why I used her! Her Team sold my home! And they make it easy with their outstanding team! And their marketing is 2nd to none! I highly recommend Adrienne and Team Lally!!”
“We used Team Lally for BOTH Buying and selling our home, and without a doubt, would use and recommend them time and time again! They made each process easy and enjoyable, and was always there to answer any and all questions or concerns we had. Can’t give a stellar enough review to the excellent Team. Above and beyond, definitely customer service orientated! Thank you guys for all you have done for us!”
“I purchased my first home with Team Lally. Cathy was an absolutely fantastic agent and I would recommend her to anyone! We had very specific needs for our home, and Cathy helped us meet every single one of them. We also were in the need of moving in within 45 days of moving to the island. Cathy made that happen! Team Lally is fantastic. Buy a house!”
“When it was time to sell our family vacation property we interviewed many people. Team Lally has amazing marketing which draws buyers from all over the United States and even the world. They had the property sold for a great price in a reasonable timeframe plus they had fabulous staff who took the time to keep all of our family informed throughout the entire process. I can’t say enough good stuff. Call them!”