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Buying your home in San Jose

For a lot of people, purchasing a home can be an intimidating event. However, with some planning ahead of time, it's not too confusing. So they know exactly what they can expect, I'll provide buyers with an overview of the whole deal. Below are my nine steps to purchasing a home. Should you have questions about this information or if you're ready to get started, you can contact me here or e-mail me at .

Step 1 – Prepare to purchase
Before you begin looking for a home, there are plenty of things you'll want to contemplate. When you begin your search, you'll want to make a list of must-have features, plan for what school districts you want to live in, and start working on your budget. A good rule to go by is that your mortgage payment should be 1/3 of your monthly income.

Step 2 – Contact a real estate agent in San Jose
This is where I come in. We'll book a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the San Jose area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.

In addition, I'll assist you with getting started on your loan. There are some excellent mortgage professionals in San Jose, and I work with a lot of them, so you're in great hands. They will assist you in figuring out which type of loan is best for you and help you get qualified.

Step 3 – Begin looking
After our first meeting, I'll start finding available houses on the market that are good for you. I'll research many of the houses and throw out the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.

When we tour homes, I'll call attention to good features, as well as bad ones. I'll even ask you what things you like and don't like. Generally, buyers change their list of must-haves as we view homes and some features become more necessary than others. If that's the situation, I'll look through the listings one more time and trim it down to the home you've been dreaming about.

Step 4 – Get a grasp of the market
My understanding of the San Jose housing market is a crucial factor in your house search. I'm familiar with all the neighborhoods and school districts, and I can let you know certain districts are "hot" and require immediate action and the ones that are "cool" and allow for cautiousness.

As we tour houses, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the home is "priced to sell." Any real estate agent in San Jose will tell you they understand the home market, but take note, and be sure to ask lots of questions. If it appears they don't know everything, call me at 408.320.8080 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire deal.

Step 5 – Find the home you've been waiting for
We'll find your dream house in San Jose, and when that happens, I'll meticulously develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as obtaining financing, finishing the inspection, and a clean title.

When we present your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property, and it's usually put towards the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the first offer. It's extremely common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and go on.

Market conditions will play a big part in how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that works well for you.

Step 7 – Secure a loan
After the deal is finalized, you'll start working with your mortgage lender to close the loan. This won't take much time at all if you've been pre-qualified, but you'll want to stay in close contact with your mortgage lender. And I'll deal with all the property information your mortgage 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 getting your application. The estimate rests on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a precise range of accuracy, and I'll study the estimate and let you know if everything looks good.

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

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, just contact me at 408.320.8080 or e-mail me at .

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