Buying or selling a home in San Jose? Morgan Real Estate & Financial, Inc. can help.
Buying a home is stressful for many people, but with a little planning ahead of time, it's not all that hard.
So they'll understand exactly what to expect, I like to furnish buyers with a road map of the entire deal.
These 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 address any questions you have regarding this information.
Step 1 – Get ready to purchase a home
Before you begin your home search, there are several things you'll want to do.
You'll probably want to assemble an outline of must-have features, plan for what school districts and neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is around a third 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 I can help.
I'd be happy to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the San Jose area.
I'll also help you start 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'll assist you in deciding which kind of loan is best for you and help you get approved.
Step 3 – Start your search
Following our first meeting, I'll begin searching for houses on the market that are good for you.
I'll research many of the homes and throw out the duds, and then we'll set up appointments to tour the homes whenever it's most convenient for you.
When we view homes, I'll identify positive features, as well as negative ones. I'll also ask you what things you like and don't like.
Generally, buyers amend their wish list as we tour houses and some things become far more necessary than others.
If that happens, I'll search the listings once again and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
An agent's understanding of the San Jose housing market is an imperative component in your house search. And I assure you I'm mindful of all the neighborhoods and schools, and I will alert you to some areas are "hot" and warrant immediate action and some that are "cool" and allow for careful examination.
When we tour houses, I'll make sure to communicate when the seller's asking price has room for negotiation and also when I know the house is "priced to sell."
When working with an agent, be on guard and make sure you ask a lot of questions. Every REALTOR in San Jose will convince you they understand the home market.
If it appears they don't know everything, call me at 4083208080 or e-mail me at , and I'd be glad to answer any questions you have. My understanding of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
We'll find the house of your dreams in San Jose, and when we do, I'll precisely develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as obtaining financing, completing the home inspection, and a clear title.
When sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property and is most often applied to the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the first offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your budget. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Get your loan
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take long at all, but you'll need to stay in close contact with your lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and be within a narrow range of accuracy, and I'll analyze the estimate and let you know if everything looks good.
Then we'll close on your home. This should take place at a title company or escrow office and should be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just call me at 4083208080 or e-mail me at .