Buying or selling a home?
Purchasing a home intimidates most people. However, with a little up-front planning, it's not all that complicated.
I like to furnish buyers with an overview of the whole deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
Should you have any questions about this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are many things you'll want to do prior to beginning your home search.
It's likely that you'll want to assemble an index of features you need, get a feeling for what neighborhoods you want to live in, and start working on your budget.
A good rule of thumb to adhere to is that your mortgage payment should be no more than a third of your net monthly income.
Step 2 – Speak with a real estate agent in San Jose
That's where I can help.
We can plan a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the San Jose area.
I'll also help you facilitate the loan process.
I work with some of San Jose's best mortgage professionals, so you're in great hands.
They will help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
Following our initial meeting, I'll start searching for houses on the market that suit your needs.
I'll get a sneak peek of many of the homes and eliminate the bad ones, and then we'll schedule appointments to view the homes when it's convenient for you.
As we view homes, I'll show you the good features, as well as bad ones. And I'll ask you to tell us about things you like and dislike.
It's widely common for buyers to update their must-have list as we view houses and some items become far more essential than others.
If that happens, I'll look through the listings once more and trim it down to the house of your dreams.
Step 4 – Know the housing market
An agent's knowledge of the San Jose home market is a crucial agent in your house search. And I can assure you I'm acquainted with all the neighborhoods and school districts, and I will communicate some areas are "hot" and require prompt action and the ones that are "cool" and allow for careful consideration.
As we tour houses, I'll be sure to tell you when the seller's list price has room for bargaining and when I trust the home is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions, as every REALTOR will claim to comprehend the housing market.
If it appears they don't know everything, call me at 4083208080 or e-mail me at , and I'll be more than happy to answer any questions you may have. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream house in San Jose, and when we do, I'll meticulously develop your home purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clean title.
When turning in your offer, most likely you'll need to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is typically put towards the closing costs. If your offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the initial offer, and it's pretty common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to consent 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.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that is best for you.
Step 7 – Secure financing
Upon signing the deal, you'll begin working with your mortgage lender to close the loan.
If you're pre-approved, this won't take long at all. However, you'll want to stay in close contact with your lender.
And I'll take care of all the property information your 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 taking your loan application.
This estimate is formed from the loan amount. RESPA requirements order that it has to include all closing costs and be within a close range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then we'll close on your home. This should take place at a title company or escrow office and will likely be a smooth and stress-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you call me at 4083208080 or e-mail me at .