Contemplating buying your new home in San Jose?

Buying a home is stressful for most people, but with a bit of planning ahead of time, it's not all that confusing. I like to furnish buyers with a road map of the whole deal so they'll understand exactly what to expect. Here 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 regarding this information.

Step 1 – Prepare to buy a home
Before you begin your home search, there are several things you need to contemplate. It's likely that you'll want to assemble a list of items you need to have, plan for what school districts and neighborhoods you'd like to live in, and start planning your budget. A good principle to adhere to is that your mortgage payment should be around a third of your net monthly income.

Step 2 – Communicate with a real estate agent in San Jose
This is where I can help. We'll set up a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, school districts in the San Jose area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.

I can also help you get started on your loan. Morgan Real Estate & Financial, Inc. partners with some of San Jose's best mortgage professionals, so you can rest assured that you're in great hands. They'll assist you in deciding which kind of loan is best for you and help you get qualified.

Step 3 – Start looking
After our initial meeting, I'll start searching for available houses on the market that best suit you. I'll get a sneak peek of many of the houses and reject the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.

When we view houses, I'll identify positive features, as well as bad ones. I'll even ask you what things you like and don't like. As a rule, buyers change their must-have list as we tour houses and some things become far more crucial than others. If that's the situation, I'll search all the listings once again and narrow it down to the home you've been wishing for.

Step 4 – Know the housing market
An agent's knowledge of the San Jose home market is an imperative element in your home search. And I assure you I'm mindful of all the schools and neighborhoods, and I'll communicate what areas are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful analysis.

When we view houses, I'll let you know when the list price has room for bargaining and also when I think the house is "priced to sell." When working with an agent, trust your instincts and make sure you ask plenty of questions, as any REALTOR in San Jose will claim to know the market. If things don't add up, contact me at 4083208080 or e-mail me at , and I'll be glad to answer any questions you have. My market knowledge will help you stay a step ahead throughout the entire process.

Step 5 – Find the house you've been looking for
I'm sure we'll find the house of your dreams in San Jose. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.

When presenting your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property and is often put towards the cost of closing. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer – it's very common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the deal depends on the state of the market. In addition, we'll work within your budget. And at the end of the day, we'll put together a deal that's best for you.

Step 7 – Secure a loan
After the deal is finished, you'll start working with your mortgage lender to close the loan. If you're pre-approved, it won't take very long at all, but you need to keep in close contact with your mortgage lender. And I'll take care of all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of getting your application. The estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if everything looks all right.

Then it's time to close on your home. This will probably occur at a title company or escrow office and will most likely be a smooth and stress-free event.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at 4083208080 or e-mail me at .

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