For many people, buying a home is a stressful event. But with a little up-front planning, it's not all that confusing.
I like to supply buyers with an outline of the entire deal so they know exactly what they can expect.
These are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to arnold@arnoldcelis.com. I'm glad to answer questions you have regarding this information.
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Step 1 – Get ready to buy
Before you begin your home search, there are several things you need to consider.
You'll most likely want to form an outline of items you need, plan for what school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 30 percent of your net monthly income is a good guideline to adhere to.
Step 2 – Contact a real estate agent in Harlingen
That's where I can help.
I'd be more than happy to plan a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Harlingen area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
I'll also help you start the loan process.
Office of Arnold Celis III works with some of Harlingen's finest mortgage professionals, so you're in great hands.
They will assist you with deciding which type of loan is best for you and help you get qualified.
Step 3 – Start your search
After our first meeting, I'll begin finding available homes on the market that are good for you.
I'll get a sneak peek of most of the homes and reject the bad ones, and then we'll schedule appointments to tour the homes when it's convenient for you.
As we view homes, I'll point out positive features, as well as bad ones. I'll also ask you about things you like and dislike.
Frequently, buyers change their wish list as we view homes and some items become far more necessary than others.
If such is the case, I'll look through the listings one more time and narrow it down to the house of your dreams.
Step 4 – Understand the market
An agent's knowledge of the Harlingen market is a leading aspect in your house search. And I can assure you I'm mindful of all the school districts and neighborhoods, and I'll communicate which districts are "hot" and require immediate action and some that are "cool" and allow for more examination.
When we tour houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions. Any REALTOR® in Harlingen will convince you they comprehend the home market.
If it seems like they don't know everything, call me at 512-290-7777 or e-mail me at , and I'd be glad to answer any questions you have. My market expertise will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been looking for
We'll find the home of your dreams in Harlingen, and when that happens, I'll carefully develop your home purchase offer. The offer will be tailored exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When presenting your offer, you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure an offer to buy the property. The amount is usually put towards the cost of closing. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer, and it's very common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
The state of the market determines how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll formulate a deal that's best for you.
Step 7 – Obtain financing
After the contract is finalized, you'll begin working with your mortgage lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all, but you'll need to stay in close contact with your lender.
And I'll deal with all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) outlining your closing costs within three days of receiving your application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your lender within three days of taking your application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy, and I'll go over the estimate and let you know if it all looks all right.
Then we'll close on your home. This will probably happen at a title company or escrow office and should be a smooth and relaxing occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply call me at 512-290-7777 or send me an e-mail.
