Buying or selling a home in San Jose?
With a little up-front planning, purchasing a home isn't that hard, but the event intimidates a lot of people.
I like to give buyers an overview of the whole deal so they understand exactly what they can expect.
These are my nine steps to purchasing a home.
Should you have any questions about this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Before you begin looking for a home, there are plenty of things you'll want to do.
You'll want to put together a list of items you want, get a feeling for what school districts you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Connect with a real estate agent
This is where I come in.
We'll book a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the San Jose area, the mortgage industry, and any other economic factors that could potentially affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
I work with some of the best mortgage professionals in San Jose, so you're in great hands.
They will assist you in choosing which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After we meet, I'll begin looking for homes on the market that best suit you.
I'll preview many of the homes and reject the bad ones, and then we'll set up appointments to tour the houses when it's most convenient for you.
When we view the homes, I'll identify good features, as well as negative ones. I'll even ask you about things you like and don't like.
For the most part, buyers revise their must-have list as we view homes and some things become far more necessary than others.
If such is the case, I'll search the listings once again and narrow it down to the house you've been waiting for.
Step 4 – Know the market
My understanding of the San Jose market is a crucial factor in your home search. I am acquainted with all the neighborhoods and schools, and I can communicate certain neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for more analysis.
When we view houses, I'll make sure to communicate when the list price has room for bargaining and when I think the home is "priced to sell."
Any REALTOR will convince you they comprehend the market, but be careful, and be sure to ask a lot of questions.
If it appears they don't know everything, just call me at 4083208080 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
We'll find your dream house in San Jose, and when that happens, I'll meticulously create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
Upon turning in your offer, you'll probably want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property. The amount is often applied to the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer – it's very common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Secure your loan
Upon completing the contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, this shouldn't take very long at all. However, you should to keep in close contact with your lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of getting your loan application.
This estimate is based on the loan amount. RESPA requirements dictate that it has to include 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 house. This should happen at a title company or escrow office and should be a smooth and relaxed affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to contact me at 4083208080 or e-mail me at .