Step 7: Loan & Appraisal
- 01Buyer's Guide
- 02Step 1: Buyer's Consultation — Laying the Foundation
- 03Step 2: Financial Qualifications — Defining Your Financial Strategy
- 04Step 3: Finding the Right Property — The Funnel Process
- 05Step 4: Submitting and Negotiating Your Offer (Purchase Contract)
- 06Step 6: Home Inspection & Due Diligence
- 07Step 5: Escrow Process
- 08Step 7: Loan & Appraisal
- 09Step 8: Closing Preparation
- 10Step 9: Closing and Welcome Home
Appraisal & Lending
When financing, your lender will request financial documents (e.g., bank statements, tax records, pay stubs). We stay in close communication with the lender to ensure a smooth process.
Two major financing milestones are:
- Appraisal Report: The appraisal confirms the property’s value. While we cannot influence the appraiser, we support the process by preparing the property and sharing relevant sales data.
- Conditional Loan Approval: Unlike the mainland, Hawaii contracts require a Conditional Loan Approval Letter, typically submitted two weeks before closing. Buyer than have one week to satisfy any conditions on the letter. The lender must issues a Clear-to-Close and funds escrow 48 hours before closing.