Purchasing your new home in San Jose
With some planning ahead of time, purchasing a home isn't all that hard, but the event intimidates many people.
I like to give buyers an outline of the whole deal so they'll understand exactly what they can expect.
Here are my nine steps to purchasing a home.
Should you have questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
There are a lot of things you should contemplate prior to commencing your home search. When you begin your search, you'll probably want to create an index of features you want, plan for what school districts you want to live in, and start planning around your budget. A good guideline to adhere to is that your mortgage payment should be close to 30 percent of your net monthly income. Step 2 – Get in touch with a real estate agent
That's where I come in. I'd love to book a time to get together with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll discuss everything from neighborhoods, schools in the San Jose area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I'll also assist you with getting started on your loan. I partner with some of San Jose's best mortgage professionals, so you'll be in great hands. They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking for a house
After we meet for the first time, I'll begin finding available houses on the market that are a great fit for you. I'll research many of the houses and eliminate the duds, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we view the houses, I'll show you the positive features, as well as bad ones. I'll also ask you about things you like and dislike. It's widely common for buyers to revise their list of must-haves as we tour houses and some features become more important than others. If that happens, I'll search all the listings once more and narrow it down to the home you've been wishing for.
Step 4 – Comprehend the housing market
My knowledge of the San Jose housing market is a leading factor in your house search. I am mindful of all the school districts and neighborhoods, and I will let you know which districts are "hot" and warrant prompt action and the ones that are "cold" and allow for more examination.
When we tour homes, I'll be sure to tell you when the seller's asking price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions, as any REALTOR in San Jose will claim to know the home market.
If things don't add up, call me at 408.320.8080 or e-mail me at , and I'll be more than happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in the San Jose area, and when that happens, I'll carefully develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer. It's pretty common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Step 7 – Secure a loan
After the deal is signed, you'll begin working with your lender to close the loan. This shouldn't take long at all if you've been pre-qualified, but you should to stay in close contact with your lender. And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) detailing your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your application. The estimate is based on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a narrow range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just call me at 408.320.8080 or e-mail me at .