Buying or selling a home in Milpitas?

With some up-front planning, buying a home isn't all that confusing, but the event is stressful for many people. I like to provide buyers with a road map of the whole deal so they understand exactly what to expect. Here are my nine steps to purchasing a home. Should you have questions regarding this information or if you're ready to get started, you can contact me here or e-mail me at .

Step 1 – Get ready to purchase a home
There are plenty of things you need to do before starting your home search. You'll most likely want to make an outline of items you need, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning around your budget. Ensuring your mortgage payment is less than or around 1/3 of your monthly income is a good guideline to follow.

Step 2 – Talk to a real estate agent in Milpitas
This is where Selective Realty Inc. comes in. We'll book a time to get together 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 Milpitas area, the mortgage industry, and any additional economic factors that may potentially affect your buying decision today or in the future.

I can also help you begin the loan process. Selective Realty Inc. partners with some of Milpitas's best mortgage professionals, so you're in great hands. They will help you determine which type of loan is best for you, as well as help you get approved.

Step 3 – Begin house-hunting
Following our first meeting, I'll start looking for available homes on the market that meet your needs. I'll get a sneak peek of most of the homes and remove the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.

When we view houses, I'll identify positive features and negative ones. And I'll ask you to point out what things you like and dislike. Generally, buyers amend their must-have list as we view homes and some things become more necessary than others. If that's the situation, I'll go back through the listings once more and narrow it down to the house you've been dreaming about.

Step 4 – Comprehend the market
My awareness of the Milpitas home market is a crucial aspect in your house search. I am acquainted with all the school districts and neighborhoods, and I'll alert you to which areas are "hot" and require prompt action and some that are "cold" and allow for cautiousness.

When we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and when I think the home is "priced to sell." Every real estate agent in Milpitas will tell you they comprehend the home market, but be mindful, and be sure to ask your agent lots of questions. If things don't add up, call me at 408-262-4321 or e-mail me at , and I'll be happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire process.

Step 5 – Find your dream home
I'm sure we'll find the house of your dreams in Milpitas. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies, such as obtaining financing, carrying out the inspection, and a clean title.

Upon presenting your offer, you'll want to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property and is typically put towards the closing costs. If the offer is accepted, we should close within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer, and it's widely common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your budget. And when it's all said and done, we'll create a contract that is best for you.

Step 7 – Secure financing
Once the deal is signed, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, this shouldn't take long at all. However, you should to stay in close contact with your lender. And I'll care for all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your application. The estimate depends on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a narrow range of accuracy, and I'll review the estimate and let you know if it all looks permissible.

Then it's time to close on your home. This will probably happen at a title company or escrow office and will most often be a smooth and peaceful affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you contact me at 408-262-4321 or e-mail me at .

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