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.
“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 were looking at vacation and investment opportunities and heard about Team Lally from their radio ads. They were very prompt and helpful and gave us a ton if insight about what to look for. We haven’t yet found the right opportunity but with this awesome team of pros I know we will. I was also super impressed with their website- very easy to use. Thanks Team Lally”
“When my husband and I began working with Team Lally, we thought we were in an impossible situation. We had been working with our then current realtor for more than a year and to no avail. The short sale on our condo proved to be too much for her. Three failed contracts later, we were finally referred to Team Lally. At this point in the process, we were very disappointed and a skeptical.To our surprise we were greeted with smiling faces and reassuring words by Adrienne Lally and Attilio Leonardi, however, I still remained skeptical. Then we were introduced to Howard, an Agent with Team Lally. From the start he was professional and extremely efficient and patient. He worked day and night and made me feel we were Team Lally’s only clients. I would honestly have so much anxiety with our short sale and yet every time I spoke with Howard I was put at ease. It took six months to close, but it was to no fault of our Realtors but due to our Mortgage Company (GreenTree) dragging their feet and playing hardball. The entire process was made easy with Team Lally steering us. Howard’s communication and explanations in all of this is what made it straightforward. Whether via email or telephone, I felt informed of the whole process. Again, I honestly at one point thought we were his only clients. Thank you Howard. Team Lally is EXCELLENT! They used every avenue to promote our property, from the internet like Zillow and Trulia to mailings to magazines. They took a disappointing …
“I purchased my home as a single woman nearly 10 years ago in what I call a “big girl moment”. I improved it over the years, and then decided to move home to the mainland to be closer to my family. I was referred to Team Lally, and much differently than other agents I was referred to, they called me immediately, providing a full scope of their services, which is impressive. I liked the fact that they had me meet them in their office, outside the potentially emotional environment of my home. This is business, after all! My home was first shown on June 10 and closed at a handsome price on August 30. Wow. These guys communicate regularly by phone, provide excellent service via email and while closing the sale I experienced the best possible service. Were I to contemplate moving back to Hawaii, Team Lally would be my first call!”
“Mrs Lally was very aggressive with advertising and putting our home out there. She sold our house 5 days after listing. Wow! We were excited and very impressed with her quick sale. We will definetly use her services again when we sell our next home.”
“Loved working with them! They completely understood the Military lifestyle and our needs and concerns! They were there to answer every question and help us work out any issues that came up resulting in an Excellent Sales Experience!”
“I am a retired, disabled veteran. In the summer of 2013, I faced significant financial, professional, and personal challenges. At the center of these challenges was the fact that my home was under water and I could not continue making payments. I had previously worked with three other real estate agents on island (two from major companies and one independent) and could not better my situation. Facing the brink of foreclosure and financial ruin, I called Team Lally on a recommendation from a friend. From that moment forward, I was able to take comfort in the belief that these people would achieve the best possible outcomes for my circumstance. While all Team Lally members went above and beyond to help me, I would like to highlight a few.Adrienne Lally, President/Team Lally – Simply the best real estate professional I have ever worked with. Within 36 hours of first contact, she had personally assessed my home and situation, and developed a cogent, strategic plan for presentation, foreclosure avoidance, and best-pricing. Her knowledge of the Hawaii real estate market is beyond reproach and she repeatedly took the time to answer every question and concern that I had. As a veteran herself, she offered unique insight on my circumstance and developed a rapport I found with no other real estate agent. Most importantly, she maintained consistent contact throughout the process via weekly updates, even after I left the islands. I was never just a number to Adrienne Lally. If I am e…
“My husband used to work with one of the agents and we were put on their mailing list. We have really enjoyed all the information that we receive. “
“Team Lally is an excellent team! They know their stuff, they are true professionals, and they care about their clients needs before they care about making themselves that extra $$$$. They treat you like family even after the sale of you home!”
“Adrienne was very in tune to my desires to sell my property. I was losing money on it and even though I didn’t do a short sale, she was very much prepared in advising me of all of my options. We sold the property for what I was hoping to get for it and the process was smooth and as painless as possible. She was always available to answer my questions and I couldn’t have had a more professional team helping me out.”