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Buying your new home in San Jose

Purchasing a home is stressful for many people, but with a little planning ahead of time, it's not that difficult. I like to give buyers an overview of the entire deal so they know exactly what to expect. Below are my nine steps to purchasing a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.

Step 1 – Get ready to purchase a home
Before you start looking for a home, there are several things you'll want to do. When you start your search, you'll want to make a check list of items you want to have, get a plan of what school districts you want to live in, and start working on your budget. Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule to go by.

Step 2 – Get in touch with a real estate agent
This is where I come in. I'd be happy to arrange a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the San Jose area.

In addition, I'll help you facilitate the loan process. There are some very good mortgage professionals in San Jose, and I work with a lot of them, so you're in great hands. They can assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Begin house hunting
Following our first meeting, I'll begin searching for available houses on the market that are a good fit for you. I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll set up appointments to tour the houses at a time that's convenient for you.

When we tour houses, I'll identify positive features and negative ones. I'll also ask you about things you like and dislike. As a rule, buyers change their wish list as we view homes and some things become far more important than others. If such is the case, I'll go back through the listings one more time and narrow it down to the home of your dreams.

Step 4 – Comprehend the housing market
An agent's understanding of the San Jose housing market is an imperative agent in your house search. And I assure you I'm acquainted with all the schools and neighborhoods, and I will let you know certain neighborhoods are "hot" and call for immediate action and the ones that are "cold" and allow for careful consideration.

As we view homes, I'll let you know when the seller's asking price has room for bargaining and also when I believe the home is "priced to sell." Every real estate agent in San Jose will tell you they truly understand the home market, but be mindful, and be sure to ask your agent plenty of questions. If it seems like they don't know everything, just call me at 408.320.8080 or e-mail me at , and I'll be more than happy to answer any questions you have. My market knowledge will keep you a step ahead throughout the entire deal.

Step 5 – Find the house of your dreams
I know we'll find your dream home in the San Jose area. When that happens, I'll precisely develop your purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as acquiring financing, completing the home inspection, and a clean title.

When we turn in your offer, you'll want to submit "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property and is usually applied to the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Most deals don't close on the initial offer. It's extremely common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.

How aggressively we negotiate the contract depends on market circumstances. We'll also work within your financing limits. And when it's all said and done, we'll assemble a deal that is best for you.

Step 7 – Get a loan
Upon finishing the deal, you'll start working with your lender to close the loan. This won't take very long at all if you're pre-qualified, but you'll want to keep in close contact with your mortgage lender. And I'll take care of all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your application. The estimate is based on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll study the estimate and let you know if everything looks all right.

Then it's time to close on your house. This will most likely occur at a title company or escrow office and will most likely be a smooth and comfortable event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at 408.320.8080 or e-mail me at .

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