We Are Dedicated to Help Realize Your Dream!
Home Mortgage Buy / Sell Resources About Us Our Team

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

With a little planning ahead of time, purchasing a home isn't all that complicated, but the event is intimidating for many people. I like to supply buyers with a road map of the whole deal so they know exactly what to expect. These are my nine steps to buying a home. Should you have any questions regarding any of this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Get ready to buy a home
Before you start your home search, there are a lot of things you need to consider. You'll probably want to make a list of features you need, get an idea of what neighborhoods you'd like to live in, and begin 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 adhere to.

Step 2 – Talk to a real estate agent
This is where I come in. We can book a time to get together 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 industry, and any additional economic factors that might affect your purchase today or in the future.

I can also assist you with getting started on your loan. There are some great mortgage professionals in San Jose, and I partner with a lot of them, so you're in great hands. They'll help you determine which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin your home search
After our first meeting, I'll start searching for available houses on the market that suit your needs. I'll preview most of the homes and ignore the duds, and then we'll set up appointments to view the homes whenever it's convenient for you.

When we tour homes, I'll identify good features, as well as negative ones. I'll also ask you what things you like and dislike. It's widely common for buyers to amend their list of must-haves as we view homes and some features become far more substantial than others. If that's the situation, I'll look through all the listings another time and trim it down to the house of your dreams.

Step 4 – Understand the market
My knowledge of the San Jose home market is a fundamental factor in your house search. I'm conscious of all the neighborhoods and school districts, and I will let you know certain districts are "hot" and call for prompt action and the ones that are "cold" and allow for more analysis.

When we view houses, I'll be sure to tell you if the seller's asking price has room for negotiation or if I believe the house is "priced to sell." Any real estate agent will tell you they know the home market, but take note, and make sure you ask your agent lots of questions. If it appears they don't know everything, just call me at 408.320.8080 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire process.

Step 5 – Find the home of your dreams
We'll find the home of your dreams in the San Jose area, and when that happens, I'll precisely develop your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as acquiring financing, carrying out the inspection, and a clear title.

Upon submitting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property, and it's typically put towards the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and go on.

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

Step 7 – Get 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, this shouldn't be a long process at all. But you should to stay in close contact with your lender. And I'll take care of 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) detailing your closing costs from your mortgage lender within three days of receiving your loan application. This estimate is based 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 study the estimate and let you know if everything looks good.

Then we'll close on your home. This will most likely occur at a title company or escrow office and will most often be a smooth and comfortable event.

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

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details