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Are you contemplating buying your new home in San Jose? Morgan Real Estate & Financial, Inc. can help.

With some planning ahead of time, purchasing a home isn't too confusing, but the event can be stressful for many people. So they'll understand exactly what they can expect, I like to supply buyers with an outline of the whole deal. Here are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address questions you have regarding this information.

Step 1 – Get ready to buy
There are plenty of things you'll want to consider prior to beginning your home search. You'll probably want to create a check list of items you need, plan for what school districts you'd like to live in, and start planning around your budget. Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good principle to adhere to.

Step 2 – Connect with a real estate agent
This is where Morgan Real Estate & Financial, Inc. comes in. We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss neighborhoods, schools in the San Jose area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.

I'll also assist you in getting started on your loan. Morgan Real Estate & Financial, Inc. works with some of the finest mortgage professionals in San Jose, so you'll be in great hands. They'll help you choose which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin your home search
After we meet for the first time, I'll start finding available homes on the market that are good for you. I'll preview many of the homes and throw out the duds, and then we'll set up appointments to tour the homes when it's convenient for you.

As we view the homes, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and don't like. It's common for buyers to amend their must-have list as we tour homes and some items become far more essential than others. If such is the case, I'll search all the listings once again and trim it down to the home you've been wishing for.

Step 4 – Know the market
My awareness of the San Jose market is a fundamental element in your home search. I'm informed of all the neighborhoods and school districts, and I can let you know certain neighborhoods are "hot" and call for prompt action and the ones that are "cool" and allow for thoughtful consideration.

As we view homes, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the home is "priced to sell." Every REALTOR will claim to truly know the housing market, but be wary, and be sure to ask your agent plenty of questions. If things don't add up, just call me at 408.320.8080 or e-mail me at , and I'll be glad to answer any questions you have. My understanding of the market will help you stay a step above the rest throughout the entire process.

Step 5 – Find the house you've been looking for
I'm sure we'll find the home of your dreams in the San Jose area. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clean title.

When turning in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer. It's pretty common to receive a counter offer. Don't let it discourage you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.

Market circumstances determine how aggressively we negotiate the deal. We'll also work within your budget. And at the end of the day, we'll formulate a contract that's best for you.

Step 7 – Secure your loan
Once we sign the final deal, you'll start working with your mortgage lender to close the loan. If you're pre-qualified, it shouldn't take very long at all. But you should to keep in close contact with your mortgage lender. And I'll handle all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your loan application. The estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and fall within a strict range of accuracy. I'll go over the estimate and let you know if it all looks adequate.

Then it's time to close on your house. This will most likely take place at a title company or escrow office and will most often be a smooth and relaxed affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at 408.320.8080 or e-mail me at .

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