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

Purchasing a home is a stressful event for many people. However, with some planning ahead of time, it's not too complicated. I like to furnish buyers with an outline of the entire deal so they'll know exactly what to expect. These 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 glad to answer questions you have about this information.

Step 1 – Prepare to buy
Before you commence your home search, there are a lot of things you need to contemplate. When you start your search, you'll want to put together an outline of items you want, plan for what school districts you'd like to live in, and begin planning your budget. Ensuring your mortgage payment is less than 30 percent of your monthly income is a good rule of thumb to go by.

Step 2 – Talk to a real estate agent in San Jose
This is where Morgan Real Estate & Financial, Inc. comes in. I'd like to schedule a time to get together with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the San Jose area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.

I'll also help you facilitate the loan process. I work with some of San Jose's best mortgage professionals, so you'll be in great hands. They'll assist you in determining which kind of loan is best for you and help you get approved.

Step 3 – Begin your home search
After our first meeting, I'll begin finding available homes on the market that best suit you. I'll get a sneak peek of most of the houses and ignore the duds, and then we'll set up appointments to view the homes whenever it's most convenient for you.

As we view the houses, I'll show you the positive features and bad ones. And I'll ask you to point out what things you like and don't like. Most often, buyers amend their list of must-haves as we tour homes and some features become more essential than others. If that's the situation, I'll look through all the listings again and trim it down to the home you've been dreaming about.

Step 4 – Understand the housing market
An agent's understanding of the San Jose housing market is a necessary aspect in your home search. And I can assure you I'm familiar with all the schools and neighborhoods, and I will alert you to which areas are "hot" and call for prompt action and the ones that are "cool" and allow for careful examination.

As we tour homes, I'll be sure to tell you when the asking price has room for negotiation and when I trust the home is "priced to sell." When working with an agent, be on guard and be sure to ask a lot of questions, as any real estate agent will convince you they truly understand the housing market. If it seems like they don't know everything, contact me at 408.320.8080 or e-mail me at , and I'll be more than happy to answer any questions you might have. My understanding of the market will help you stay a step ahead throughout the entire process.

Step 5 – Find the home of your dreams
I'm certain we'll find the home of your dreams in San Jose. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.

When turning in your offer, you'll probably need to present "earnest money." This is a cash deposit made to the home 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 within 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's pretty common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.

Market circumstances will play a vital role in how aggressively we negotiate the deal. In addition, we'll work within your financing budget. And at the end of the day, we'll formulate a contract that's best for you.

Step 7 – Get your loan
Once we sign the final contract, you'll begin working with your lender to close the loan. If you're already pre-qualified, it shouldn't be a long process at all. But you should to keep in close contact with your lender. And I'll deal with all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your application. This estimate rests on the loan amount, and RESPA requirements require that it has to involve all closing costs and be within a strict range of accuracy. I'll review the estimate and let you know if it all looks permissible.

Then it's time to close on your house. This will most likely take place at a title company or escrow office and should be a smooth and pleasant occasion.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, just call me at 408.320.8080 or e-mail me at .

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