Buying or selling a home in San Jose?
For most people, purchasing a home is a stressful event. But with a little up-front planning, it's not that difficult.
So they'll understand exactly what to expect, I like to provide buyers with an overview of the whole deal.
Here are my nine steps to buying 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 a home
There are many things you'll want to do before you search for a home.
It's likely that you'll want to put together a list of items you need, get a feeling for what school districts and neighborhoods you want to live in, and start working on your budget.
Ensuring your mortgage payment is less than or around a third of your net monthly income is a good guideline to follow.
Step 2 – Communicate with a real estate agent in San Jose
That's where I can help.
We can plan 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 discuss everything from neighborhoods, schools in the San Jose area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan.
Morgan Real Estate & Financial, Inc. partners with some of the finest mortgage professionals in San Jose, so you can rest assured that you're in great hands.
They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start house-hunting
After we meet, I'll start finding available houses on the market that best suit you.
I'll get a sneak peek of most of the houses and exclude the duds, and then we'll book appointments to tour the houses whenever it's most convenient for you.
As we view houses, I'll point out good features, as well as negative ones. I'll also ask you to point out what things you like and dislike.
It's widely common for buyers to update their must-have list as we view houses and some features become more necessary than others.
If that's the case, I'll look through all the listings once again and trim it down to the house of your dreams.
Step 4 – Get a grasp of the housing market
My understanding of the San Jose market is a crucial element in your house search. I am informed of all the school districts and neighborhoods, and I can communicate some districts are "hot" and demand prompt action and others that are "cold" and allow for cautiousness.
As we tour houses, I'll be sure to tell you when the list price has room for bargaining and also when I believe the home is "priced to sell."
Be careful and be sure to ask plenty of questions, as any REALTOR will convince you they understand the housing market.
If it seems like they don't know everything, contact me at 4083208080 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the home you've been looking for
I'm positive we'll find the home of your dreams in the San Jose area. When we do, I'll thoroughly create your purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as getting financing, finishing the inspection, and a clean title.
When we turn in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property. The amount is most often put towards the closing costs. If the seller accepts the offer, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals aren't closed on the first offer, and it's pretty common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to consent to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll create a contract that is best for you.
Step 7 – Obtain financing
Once the deal is finalized, you'll begin working with your mortgage lender to close the loan.
It shouldn't take much time at all if you've been pre-approved, but you'll want to keep 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
Your mortgage lender will provide you with a Loan Estimate (LE) of your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your application.
This estimate depends on the loan amount. RESPA requirements order that it has to involve all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will most often take place at a title company or escrow office and will most often be a smooth and easygoing event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at 4083208080 or e-mail me at .