Q: What steps do I need to take before I’m ready to buy a Silicon Valley home?

A: Make certain your finances are in order.
Before you apply for a loan you need to gather the following financial information to bring to the lender:

*Note: Although the mortgage industry is in a state of flux due to the issues from subprime loans, there remains a few no money down loan programs.

Q: Do I need to be preapproved to purchase real estate in the Silicon Valley?

A: We recommend it and it will most certainly strengthen your offer and your negotiating power.

Q: What exactly is pre-approval?

A: Preapproved is when you formally present your financial information to a lending consultant who then tells you how much money you qualify to barrow.

Q: What is the cost of a pre-approval?

A: There is no cost associated with a pre-approval.

Q: Can you show me a Silicon Valley home that is not listed by you or homes for sale by the owner?

A: Yes
We can take you to see any home that is listed for sale and those for sale by a homeowner. If you stop into an open house or a new home under construction, you should let the seller’s agent or builder's agent know that you are working with the SV Home Team. Remember, as your expert agents, we will protect your interest and negotiate on your behalf.

Q: You helped me find the home of my dreams, what’s next?

A: We jump into action!
As your buyers' representative for Silicon Valley real estate, we will research the most recent sales in the area to help determine the fair market value of the home. We then help you write an offer and we present it to the seller’s listing agent. When your written offer is presented the seller has three choices:

Negotiations will continue until an agreement is reached. Once the seller accepts your offer, or you accept the counteroffer in writing, you have a binding contract to purchase that property.

Q: Do I need any money to buy ?

A: You will need a good faith deposit (earnest money):

Along with your offer, you’ll need to submit a check for earnest money equal to 3% of the offer price. The earnest money will demonstrate to the seller that you are serious about purchasing their property. Your earnest money funds will be deposited in an escrow account 3 days after acceptance of the offer. It will be held there until closing, when it will be applied to your down payment or closing costs. The earnest money will be reflected on the HUD1 statement as a credit for you the buyer.

Q: What my advantages to working with just one real estate broker?

A: It is in your best interest to work exclusively with us as your buyers' agents.