HOME BUYERS GUIDE
Sierra Kuilani Simpson
Realtor:84681
What you will learn in this guide
- Choosing your Realtor
- Financing & Lending
- House Hunting & Writing an offer
- The Escrow Process & Closing Day
- Lava & Flood Zones
- Buyers Representation Agreement
Choosing your Realtor
Work with someone you trust and your comfortable with. Be sure to express your communication preference(email,text,or call, etc)
Sierra Kuilani Simpson
Sierra, a native of Hilo, Hawaii, has always had a desire to explore new horizons. Her journey into the world of real estate began at the age of 18 when she was introduced to the development side of the industry at Cemo Commercial in El Dorado Hills, California. During her time there, a close friend opened a Help-U-Sell franchise office in Sacramento, where Sierra gained experience in escrow coordination.
Sierra, from Hilo, Hawaii, began her real estate journey at 18 with Cemo Commercial in El Dorado Hills, California. She later gained escrow coordination experience at a Help-U-Sell franchise in Sacramento. For ten years, she worked as a librarian in the Elk Grove Unified School District, driven by her passion for education.
In 2019, Sierra returned to Hilo, aiming to combine her expertise in education and real estate to promote financial literacy and generational wealth through homeownership. She enjoys spending time with her family, camping, and beach outings, enriching her perspective and dedication to her community.
Sierra's experiences from Hilo to California and back have given her a deep understanding of home and community. With her knowledge of real estate, love for education, and commitment to helping others, Sierra strives to empower Hilo's individuals and families to achieve financial security and create lasting legacies.
Finances and Lenders
The next step to becoming a homeowner is finding an accredited lender to finance your mortgage. Your lender will have you fill out an application , review the documents that you sent over and let you know what loan program works best for you!
Recommended Lenders
Spencer Garcia
Veterans United
(805)868-5745
Christina Alves
Guild Mortgage
(808)896-3208
Micheal Quinn
(805)232-8796
American Pacific Mortgage
Recommended Lenders
House hunting
Ask yourself, what is important to you and whithin your budget? Your first home is usually not your forever home but it can get your to your forever home one day.
- Location: where do you want to live?
- Square feet: size of the home
- Bed/Bath: how many rooms is ideal?
- Land: how much yard would you like?
Tip: Be sure to know what neighborhood you are most interested in. You can do this by taking a drive in the different areas at different times of the day. Take notice to the weather, traffic and surroundings.
We found the one...Lets Make an offer
#1: Offer amount
coming up with a offer amount will depend on a few things
-days on market (other interest in the property)
-type of financing & the following steps
#2: EMD(Earnest Money Deposit)
The earnest money deposit is a deposit
made by the buyer to the escrow
account. This deposit will be put towards
the buyers closing costs. In the event that
the transaction is cancelled this deposit is
to be returned to the buyer or is given to the seller.
#3 Contingencies
Some contingencies that could
alter our offers would be:
-having a survey done
-having a termite inspection
-how soon can we close?
-will the home appraise?
Your offer is accepted & escrow is opened, What's next?
A home inspections is not mandatory but it is highly recommended. We will take 7-14 days to do
our due diligence on the property and have a licensed inspector provide us with a detailed report
on the flaws that the home has.
This is a good time to visit the property at different hours of the day, get to know the neighborhood
and ask as much questions as possible.
During this time we will also receive a sellers real property disclosure. This document will tell us
everything that the seller knows about the home.
We can cancel the transaction at any time during this inspection period and receive your earnest
money deposit back! Once we sign off on the inspection period we will need reasoning to cancel.
Inspection Period
A home inspections is not mandatory but it is highly recommended. We will take 7-14 days to do
our due diligence on the property and have a licensed inspector provide us with a detailed report
on the flaws that the home has.
This is a good time to visit the property at different hours of the day, get to know the neighborhood
and ask as much questions as possible.
During this time we will also receive a sellers real property disclosure. This document will tell us
everything that the seller knows about the home.
Reports
We will than receive multiple reports needed for your loan to be approved:
IF APPLICABLE:
- A survey report
- A termite report
IF treatment is needed then we will either have it done during the escrow process OR we will have escrow hold the funds and have the treatment done AFTER closing.
- Appraisal report
The value of the home will need to match the price that you are buying the home for.If it doesn't then we will need to renegotiate the purchase price with the seller or pay the difference with cash.
Loan Commitment / Approval
After we accept our inspection period and meet some of our contingencies we will need to obtain a loan commitment letter and a final loan approval letter.
A loan commitment letter will tell us what the lender needs to approve your loan. This could be
the following but not limited to:
- updated bank statements
- the appraisal report or other reports
- insurance binder
A final loan approval means that the underwriter has approved your loan and the lender has decided to fund your purchase!! This letter is usually received between day 30-40 of the escrow process.
You did it whoo-hoo...Closing Day!!
It's been 2 business days since your loan has funded! It is finally time to hand over the keys to your new home!
I will usually meet you at 1:00pm but can meet you at anytime of the day on recording day.
There are a few things that you need to do now that you're a home owner!
- Submit a home exemption form (this will decrease the amount of property taxes that you have to pay)
- Schedule your internet / cable
- Change all of your locks!
- Keep in mind that you are responsible for paying your association dues and property taxes. Ask me if you're needing help on how to do this
- Write a review about me on Zillow & IG
- ENJOY YOUR NEW HOME!!!
Lets Talk Lava Zones
The Hilo & Puna district is made up of 4 different
lava zones ranging from lava zone 1-4.
Lava zone 1 & 2 require lava insurance provided by
HPIA. This insurance varies but can up around
$5,000 annually.
Lava zone 3 & 4 do not require lava insurance.
When a home is purchased with cash, lava
insurance is optional but recommended.
Flood Zones & Elevations
The Hilo & Puna district consist of many
different flood zones and elevations. Most of
Puna is Flood Zone X.
Flood insurance varies from property to
property.
The elevation of the Big Island Varies from 0 ft-
13,743 ft
Elevations Map
Ready to work with me?
Here's what you need to do next: I'll send you the Buyer's Representation Agreement for your review. Please take your time to read through it carefully. If you have any questions or need clarification on any part of the agreement, feel free to reach out to me. Once you're comfortable with everything, you can sign the agreement electronically or we can arrange a time to meet in person for the signing. After you sign the agreement, please return it to me via email or in person. With the signed agreement, we can officially start the exciting journey of finding your perfect home!
BUYER'S REPRESENTATION AGREEMENT
WHAT IT MEANS FOR HOMEBUYERS:
Written Agreement You must sign a Buyer's Representation Agreement.
BEFORE touring a property.
Before signing this agreement, we'll work with you to ensure you understand exactly what services and value will be provided, and for how much.
- You have choices. Work with us to understand the full range of these choices when buying a home, which will help you make the best possible decision for your needs.
Compensation
IN THE RARE OCCURRENCE THAT A SELLER IS NOT OFFERING COMPENSATION OR THE COMPENSATION IS LESS THAN OUR AGREED-UPON AMOUNT, WE HAVE A FEW OPTIONS.
- Negotiate Compensation
- Adjust our offer price
- Make a payment at closing as part of your closing cost
I look forward to working with you!
Phone: (808)339-5606
Email:sierrakuilani.simpson@gmail.com
website:https://sierrasimpson.exprealty.com/
The Agency Team brokered by eXp Realty is recognized as the #1 real estate team in Hawaii, offering unparalleled service with
over 130 agents statewide. With a deep commitment to excellence, we ensure every client feels like family. Experience top-notch real estate services with The Agency Team Hawaii, where your goals are our mission.
Our Mission
Our mission is to empower clients to make confident
decisions when buying or selling their home. We take
pride in education and guiding clients throughout the
process by providing a high level service with honesty
and integrity. We are a family oriented company with
local roots and strong value.
