Los Gatos Home

Los Gatos Home

Buying a home in Los Gatos will be an existing and stressful experience you will ever have specially since it might be the largest financial transaction you have ever completed.  So, here are some tips to get prepared to what  tips and keys to know before you buy.

1) Get Pre-Approved:  Unless you plan to buy your los gatos home for cash, it’s critical to get pre-approved before you start searching for a home.  If you don’t know how much home you can afford you will be wasting your time and your agent’s time as well.  So, visit your trusty lender to complete a Mortgage Loan application to see how the maximum loan amount you can afford and how that translates to a home purchase price using your down payment.

2) Do some research on your own:    This may sound trivial, but an educated and well informed buyer is a welcome sight to the Real Estate agent you will eventually retain to help you find your Los Gatos dream home.   Educate yourself about the different neighborhoods and the price ranges in those neighborhoods.

3) Retain a buyers agent:  Most buyers don’t know that they don’t have to pay a buyers agent.  Your buyer agent will receive a commission from the seller of whichever home you choose.   So, retaining a buyers agent is FREE and they can be instrumental in finding you the right home at the right price.   They will also help you negotiate a better deal.

4) Educate yourself about the Real Estate transaction:  There are more than just buyers and sellers involved in a Real Estate transaction.   You will have inspectors, appraisers, loan officers, underwriters, escrow and title and homeowners insurance agent in the transaction. Each of these folks play a significant role in your Los Gatos home purchase.   Knowing the purpose of each of these participants and who pays for their service is critical to help you save money.   Ask your agent to explain the role of each party and how they are compensated.  

5) Close of Escrow Does not mean possession:   Just because your escrow is closed, that oes not mean you can take possession.  Many buyers assume when they sign the final documents  that the deal is complete.   In fact, many lenders these days conduct pre-funding Credit checks for the buyers to make sure no surprises have appeared.   So, avoid large purchases on your credit till your loan has been funded and recorded.

Good luck with your Los Gatos home search and Contact Us if you need help.

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