Are you contemplating purchasing your home in Milpitas?

Purchasing a home is intimidating for many people, but with some planning ahead of time, it's not very complex. I like to furnish buyers with a road map of the entire deal so they understand exactly what to expect. These are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have regarding this information.

Step 1 – Get ready to buy a home
There are several things you need to consider before commencing your home search. You'll want to put together a checklist of items you need, get an idea of what neighborhoods and school districts you'd like to live in, and start working on your budget. Keeping your mortgage payment around a third of your monthly income is a good guideline to adhere to.

Step 2 – Talk to a real estate agent in Milpitas
This is where I come in. I'd love to plan a time to get together with you and talk about your real estate needs and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the Milpitas area, the mortgage and housing industries, and any other economic factors that might affect your buying decision today or in the future.

In addition, I'll help you start the loan process. Selective Realty Inc. works with some of Milpitas's finest mortgage professionals, so you'll be in great hands. They'll assist you with deciding which type of loan is best for you and help you get qualified.

Step 3 – Start looking for a home
After our first meeting, I'll begin finding homes on the market that suit your needs. I'll research many of the homes and eliminate the duds, and then we'll set up appointments to tour the homes whenever it's most convenient for you.

As we view homes, I'll show you the positive features, as well as negative ones. I'll also ask you what things you like and don't like. As a rule, buyers revise their wish list as we view homes and some things become more substantial than others. If that's the situation, I'll go back through the listings another time and narrow it down to the house you've been dreaming about.

Step 4 – Get a grasp of the market
Your agent's awareness of the Milpitas home market is a crucial agent in your house search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll let you know which areas are "hot" and call for immediate action and the ones that are "cool" and allow for thoughtful examination.

As we view houses, I'll be sure to tell you if the list price has room for bargaining or if I believe the home is "priced to sell." Be careful and be sure to ask plenty of questions, as every REALTOR will tell you they know the home market. If things don't add up, just call me at 408-262-4321 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 above the rest through the entire deal.

Step 5 – Find your dream home
I'm positive we'll find your dream home in the Milpitas area. When we do, I'll carefully create your home purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as acquiring financing, completing the inspection, and a clear title.

When presenting your offer, you'll need to present "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property. The amount is typically put towards the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer, and it's very common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

Market conditions determine how aggressively we negotiate the deal. In addition, we'll work within your financing constraints. And when it's all said and done, we'll create a deal that is best for you.

Step 7 – Get financing
Upon finishing the contract, you'll start working with your lender to close the loan. If you've been pre-qualified, this shouldn't be a long process at all. But you'll need to keep in close contact with your mortgage lender. And I'll take care of 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) outlining your closing costs from your mortgage lender within three days of getting your application. The estimate is based on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and be within a narrow range of accuracy. I'll analyze the estimate and let you know if everything looks all right.

Then it's time to close on your home. This will most likely take place at a title company or escrow office and is often a smooth and easygoing occasion.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at 408-262-4321 or e-mail me at .

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