Contemplating buying your new home in San Jose?
Purchasing a home is an intimidating event for a lot of people, but it's not all that difficult with a little up-front planning.
So they know exactly what to expect, I'll provide buyers with a road map of the entire deal.
Here are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Prepare to buy
There are plenty of things you'll want to consider before commencing your home search.
You'll probably want to assemble a list of items you want to have, get a feel for what neighborhoods you want to live in, and start working on your budget.
Ensuring your mortgage payment is around 1/3 of your monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent
This is where I can help.
I'd like to book a time to meet with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss everything from neighborhoods, school districts in the San Jose area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
In addition, I'll help you begin the loan process.
There are some excellent mortgage professionals in San Jose, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
Following our first meeting, I'll start looking for available homes on the market that are a good fit for you.
I'll research most of the homes and throw out the bad ones, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we tour homes, I'll point out positive features, as well as bad ones. I'll also ask you about things you like and dislike.
For the most part, buyers revise their wish list as we view homes and some items become more crucial than others.
If that happens, I'll look through the listings another time and trim it down to the house you've been dreaming about.
Step 4 – Get a grasp of the housing market
An agent's awareness of the San Jose market is an imperative factor in your house search. And I assure you I'm informed of all the neighborhoods and school districts, and I'll alert you to which districts are "hot" and warrant immediate action and others that are "cold" and allow for careful examination.
When we view houses, I'll make sure to communicate 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 claim to truly know the home market, but be mindful, and be sure to ask lots of questions.
If it doesn't seem like they know everything, contact me at 4083208080 or e-mail me at , and I'll be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream home in the San Jose area, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are obtaining financing, finishing the inspection, and a clean title.
When submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property and is typically put towards the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the initial offer. It's really common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your budget. And when it's all said and done, we'll assemble a contract that is best for you.
Step 7 – Obtain a loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan.
It shouldn't take long at all if you're pre-approved, but you'll want to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs 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 taking your loan application.
This estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if it all looks okay.
Then we'll close on your house. This should happen at a title company or escrow office and should be a smooth and peaceful occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply contact me at 4083208080 or e-mail me at .