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Buying your new home in San Jose?

Buying a home can be stressful for a lot of people. However, with a little planning ahead of time, it's not all that difficult. So they know exactly what they can expect, I'll give buyers an outline of the entire deal. Below are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to address questions you have about this information.

Step 1 – Get ready to buy
Before you begin looking for a home, there are many things you'll want to take into account. When you begin your search, you'll want to form an index of must-have features, get a feel for what neighborhoods and school districts you want to live in, and begin planning around your budget. Keeping your mortgage payment around a third of your net monthly income is a good rule of thumb to go by.

Step 2 – Get in touch with a real estate agent
This is where Morgan Real Estate & Financial, Inc. can help. I'd love to book a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage industry, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and schools in the San Jose area.

In addition, I'll help you begin the loan process. There are some great mortgage professionals in San Jose, and I partner with a lot of them, so you'll be in great hands. They will assist you with deciding which type of loan is best for you and help you get approved.

Step 3 – Start looking
Following our first meeting, I'll begin finding houses on the market that are great for you. I'll get a sneak peek of most of the homes and reject the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.

When we tour the homes, I'll identify positive features and bad ones. And I'll ask you to tell us about things you like and dislike. As a rule, buyers revise their list of must-haves as we view homes and some features become far more crucial than others. If that's the case, I'll search the listings once again and trim it down to the home you've been waiting for.

Step 4 – Know the market
An agent's understanding of the San Jose housing market is an essential element in your house search. And I assure you I'm informed of all the neighborhoods and schools, and I can alert you to which neighborhoods are "hot" and demand prompt action and some that are "cool" and allow for more analysis.

When we view houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions. Any REALTOR will tell you they truly know the housing market. If things don't add up, just call me at 408.320.8080 or e-mail me at , and I'd be happy to answer your questions. My market expertise will help you stay a step ahead through the entire deal.

Step 5 – Find your dream home
I know we'll find the home of your dreams in San Jose. When we do, I'll meticulously create your home purchase offer. The offer will be tailored to suit your needs and the home, including some contingencies, such as acquiring financing, finishing the inspection, and a clean title.

Upon turning in your purchase offer, you'll probably want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property, and it's usually put towards the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.

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

Market circumstances determine how aggressively we negotiate the contract. We'll also work within your financing limits. And when it's all said and done, we'll formulate a deal that's best for you.

Step 7 – Get your loan
After the deal is complete, you'll start working with your lender to close the loan. It shouldn't take very long at all if you're pre-qualified, but you need to keep in close contact with your mortgage lender. And I'll handle all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of taking your loan application. This estimate is formed from the loan amount, and RESPA requirements require that it has to involve 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 permissible.

Then we'll close on your home. This should happen at a title company or escrow office and will likely be a smooth and comfortable occasion.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to call me at 408.320.8080 or e-mail me at .

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