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Buying or selling a home in San Jose? Morgan Real Estate & Financial, Inc. can help.

Buying a home can be stressful for most people, but it's not very hard with a little up-front planning. I like to provide buyers with a road map of the whole deal so they know exactly what they can expect. These 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 answer any questions you have about this information.

Step 1 – Get ready to buy
There are a lot of things you need to do prior to commencing your home search. When you begin your search, you'll probably want to form a list of items you want, get an idea of what neighborhoods you want to live in, and begin planning around your budget. Keeping your mortgage payment around 1/3 of your net monthly income is a good principle to go by.

Step 2 – Contact a real estate agent
That's where I can help. I'd love to set up 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 future plans. We'll discuss neighborhoods, schools in the San Jose area, the mortgage and housing industries, and any additional economic factors that could affect your buying decision today or in the future.

In addition, I'll help you get started on your loan. I partner with some of the finest mortgage professionals in San Jose, so you can rest assured that you're in great hands. They will assist you in deciding which kind of loan is best for you and help you get approved.

Step 3 – Begin looking for a house
After our first meeting, I'll begin searching for homes on the market that are good for you. I'll preview many of the homes and reject the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.

When we view homes, I'll point out positive features and bad ones. I'll also ask you to talk about things you like and dislike. For the most part, buyers amend their must-have list as we view houses and some things become more important than others. If that happens, I'll search all the listings another time and narrow it down to the house of your dreams.

Step 4 – Know the market
An agent's understanding of the San Jose market is a fundamental factor in your house search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I can let you know what neighborhoods are "hot" and demand prompt action and the ones that are "cold" and allow for more analysis.

When we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and when I trust the house is "priced to sell." When working with an agent, be mindful and make sure you ask lots of questions, as every REALTOR in San Jose will convince you they 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 glad to answer any questions you have. My market knowledge will keep you a step ahead through the entire process.

Step 5 – Find the house you've been looking for
I'm certain we'll find the house of your dreams in San Jose. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.

When we submit your offer, you'll need to present "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property and is most often applied to the closing costs. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts don't close on the first offer. It's very common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and move on.

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

Step 7 – Obtain a loan
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan. If you're already pre-approved, this won't take long at all, but you'll need to stay in close contact with your 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) of your closing costs from your mortgage lender within three days of accepting your loan application. The estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if everything looks adequate.

Then we'll close on your home. This will most often occur at a title company or escrow office and is often a smooth and hassle-free event.

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

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