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Are you buying a new home in San Jose? Morgan Real Estate & Financial, Inc. can help.

Purchasing a home is stressful for a lot of people. However, with a bit of up-front planning, it's not that difficult. I like to furnish buyers with an outline of the entire deal so they'll know exactly what to expect. Below 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 regarding this information.

Step 1 – Prepare to buy a home
There are several things you need to take into account before you start searching for a home. When you begin your search, you'll probably want to form a checklist of items you need, get a plan of what neighborhoods and school districts you want to live in, and start planning around your budget. Ensuring your mortgage payment is around 30 percent of your monthly income is a good guideline to adhere to.

Step 2 – Contact a real estate agent
This is where I come in. I'd love to set up a time to meet 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 discuss the mortgage industry, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and schools in the San Jose area.

I can also help you begin the loan process. There are some great mortgage professionals in San Jose, and I partner with a lot of them, so you'll be in great hands. They'll assist you in choosing which kind of loan is best for you and help you get approved.

Step 3 – Begin house hunting
Following our initial meeting, I'll start looking for homes on the market that best suit you. I'll research many of the houses and exclude the bad ones, and then we'll schedule appointments to tour the houses when it's convenient for you.

When we view homes, I'll show you the good features and bad ones. And I'll ask you about things you like and don't like. It's common for buyers to revise their wish list as we tour houses and some features become more important than others. If that's the case, I'll search all the listings one more time and trim it down to the home you've been dreaming about.

Step 4 – Comprehend the housing market
An agent's understanding of the San Jose home market is an essential element in your house search. And I assure you I'm informed of all the school districts and neighborhoods, and I'll communicate certain areas are "hot" and demand immediate action and some that are "cool" and allow for careful analysis.

As we tour houses, I'll make sure to communicate if the list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be on guard and be sure to ask a lot of questions. Any REALTOR in San Jose will tell you they understand the housing market. If things don't add up, call me at 408.320.8080 or e-mail me at , and I'll be more than happy to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire process.

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

Upon turning in your offer, you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property. The amount is typically put towards the cost of closing. If your offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Most deals aren't closed on the initial offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to accept the counter offer, propose our own counter offer, or decline the seller's offer and move 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 contract that works well for you.

Step 7 – Obtain a loan
After the deal is finished, you'll begin working with your lender to close the loan. It shouldn't take much time at all if you're pre-approved, but you'll need to keep in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender will need to close the loan.

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

Then we'll close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and comfortable affair.

Step 9 – Move in
Congratulations! It's time to move into your new house. 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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