Buyer Guide - Freedom Bank

PRESENTED BY THE DELDI ORTEGON GROUP

BUYER GUIDE

FAITH. FAMILY. FUN.

Photography by: Photograph RGV Home Builder: Villa Homes

DEAR VALUED CLIENT, We want to thank you in advance for taking the time to read this magazine a n d co n s i d e r i t s i nfo r m a t i o n . O n each page we want to show you how important you are to us, how important it is to get you top dollar for your home and how much the Deldi Ortegon Group loves the community. Every single one of us on the team has a mission to CARE about you and your family. SERVE you at the highest level possible and GIVE back to our community.

We are a team dedicated to HELPING our clients, their families, and the communities we live in and serve. Our team is a specialized group of real estate experts bringing VALUE to every sale. We are dedicated to DELIVERING the best service in the real estate industry and providing a seamless process to ensure a successful sale. Once you have reviewed this information and witnessed how effective our approach is for our clients, we trust you will want to partner with us in the sale and purchase of your home. Thank you for your consideration - we truly look forward to serving you and your family very soon.

The Deldi Ortegon Group

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TABLE OF CONTENTS

PROTECT YOUR LOAN APPROVAL

MORTGAGE PROCESS

BUYER’S PROCESS

4 6 7

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FAITH. FAMILY. FUN.

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ABOUT THE DELDI ORTEGON GROUP

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WIN-WIN EXPECTATIONS

BUYER’S CHECKLIST

HOME INSPECTION

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BUYER PROCESS

GET PREAPPROVED

• Initial interview - we assess your needs • Get loan pre-qualification

GO SHOPPING

• The average buyer looks

SALES AGREEMENT

• Review the Texas Real

EARNEST MONEY

• Earnest money is

at 5 HOMES before finding

Estate Sales Agreement

used towards your

the right one.

prior to finding your perfect

down payment and is

home.

recommended to be 1% or

• The KEY to finding the right home quickly is to give me

• This will enable you to

more of the sales price.

feedback when looking at

feel comfortable making a

homes.

quick yet confident home

submitted with your

buying decision when the

offer or upon mutual

right property is presented

acceptance. It is “good

to you.

faith” you are purchasing

• Earnest Money is

the home.

YOUR TOP 3 MUST HAVES FOR YOUR NEW HOME: 1.

2.

3.

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HOME INSPECTION

• Home Inspections are a cost paid by the Buyer. Typically, inspections run between $200-$500.

• Inspections are for major items only

• Appraisals are a cost paid by the

to closing on your property. This is

tween $450-$550.

where you will sign loan documents

• Your lending company will require an appraisal to ensure you are not

types. However, they are a good

overpaying for a property.

you choose is in solid working

• You will visit a title company prior

Buyer. Typical appraisals run be-

and are not required for all loan idea regardless to ensure the home

CLOSING

APPRAISAL

• It is highly recommended that cash buyers also have an appraisal.

condition.

for your new home.

• The close date is the date your loan will fund and record. This is the date agreed upon in the sales agreement. You will be given the keys on the day of closing and funding unless other agreements have been made with the seller.

Buyers Market

Promissory Note

Down Payment

A buyer’s market occurs when the

A signed document in the sales

A payment made during the onset

supply (available properties for

agreement that contains a written

of a home purchase. The payment

sale) exceeds demand (the number

promise to pay a stated sum to a

typically represents only a small

of buyers seeking to purchase

specified person on a specified date.

percentage of the total purchase

properties).

Sellers Market

price. Homebuyers will often pay

Earnest Money

down payments ranging from 0%

The stated sum detailed in a

to 20% of the total value of the

A seller’s market occurs when

promissory note. This deposit is made

home, and a bank or other financial

demand exceeds supply (there are

to and deposited with the designated

institution will cover the remainder

more buyers seeking to purchase

title company. This deposit

of the costs through a mortgage

properties than there are available

demonstrates the buyer’s good faith

loan. Down payments are based on

homes on the market).

in the transaction.

the type of home loan a buyer has obtained.

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MORTGAGE PROCESS Step By Step & Our Preferred Lenders

Chat With Lender a. Contact our preferred lender b. Apply for mortgage

Apply For Mortgage SAMPLE OF ITEMS NEEDED a. Two years most recent Federal Tax Returns b. Two years most recent W2 & 1099 income forms c. Two most recent pay stubs d. Birthdate(s)/Social Security Number e. Estimated balances for liquid savings and retirement accounts. f. Drivers License(s)

Contract On Your Home a. Agree on contract terms. b. Contract provided to lender. c. Lender submits file for initial underwriting. d. Underwriter issues conditional approval.

Your Loan Goes Through Underwriting a. Your home is appraised. b. All information and documentation requested by lender is provided by you. c. Your loan goes through final underwriting.

You Are Cleared To Close! a. Your loan is APPROVED and you are clear to close! b. Closing Disclosure is issued for review

PROTECT YOUR LOAN APPROVAL

Once you are pre-approved for financing and have an accepted offer: • DO notify your loan officer if your address changes.

• DO tell your loan officer if your salary or your coborrower’s wage changes.

• DO keep documentation for all significant deposits to your bank accounts.

• DO report if you transfer funds from one bank account to another.

• DO acquire homeowner’s insurance as soon as possible after getting under contract.

• DO stay current on all your existing credit cards, housing payment, and other accounts/debts.

• DO let everyone involved know if you have any vacations planned during the loan process.

• DON’T make any large purchases on existing credit without first talking to your lender.

• DON’T apply for or acquire any additional lines of credit/credit cards.

• DON’T pay off or transfer credit card balances or close any credit card accounts unless instructed by your loan officer.

• DON’T change jobs without consulting your loan officer.

• DON’T co-sign for another person to obtain a line of credit or make a purchase.

• DON’T pay off any collections unless your loan officer tells you to or an Attorney can write a proof of funds letter and/or have current bank statements to support your offer.

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HOME INSPECTION

WHY YOU SHOULD OBTAIN A HOME INSPECTION M o s t b u ye r s a re n o t c o m p l e te ly knowledgeable in identifying potential problems in the home they are about to purchase. A small investment in a home inspection helps buyers to save thousands of dollars in the long run. A buyer simply cannot afford not to have a professional home inspector survey the external and internal components of the home.

ITEMS ON YOUR INSPECTION REPORT SHOULD INCLUDE (but are not limited to): • Foundations and structures: Floors and walls, proper drainage and ventilation, evidence of water seepage.

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• Exterior: Siding, windows and doors, exterior walls, porches, decks, balconies, and garage.

• Roof: Roof type and material, condition of downspouts and gutters.

• Interior plumbing system: Hot and cold water systems, the waste system and garbage disposal, water pressure and flow, hot water equipment.

• Electrical system: Type of service, number of circuits, type of protection, outlet grounding, and load balance.

• Central heating system: Energy source, type of cooling equipment, capacity, and distribution • Interior walls, ceilings, floors, windows and, doors.

• Attic: Structural, insulation, and ventilation information.

• Fireplace: Chimney, damper, and masonry

• Garage doors, walls, floor, and opener.

• Appliances: Built in and other home appliances, smoke detectors, and television/cable hookups.

• Lot and landscaping: Grounds slopes away from foundation, condition of walks, steps, and driveways.

It’s important to know that every home has issues that the inspector will reveal and every home has its own “personality”, so to say. It is the inspector’s job to find these, which is a good thing.

Whether you’re a first time buyer or a seasoned homeowner, the home inspection is your time to get to know the inner workings of your new home and to learn which seasonal and regular maintenance items that are required in the wonderful world of homeownership.

BUYER’S CHECKLIST Get Pre-Approved, Submit Mortgage Application

S chedule Home Inspection

Drive Around Neighborhoods And Areas You Like

Finalize Inspection Negotiations

Research Schools

Pay For And Order Appraisal

Search For And Find Your Dream Home

Purchase Homeowners Insurance

Make An Offer

Get All Paperwork To Lender

Go Under Contract

Set Up Utilities

Submit Earnest Money

Schedule Closing Walk Through

Finalize Lender Choice

Closing

Mortgage Application

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Have Inspection

WIN-WIN EXPECTATIONS

What You Can Expect Of The Deldi Ortegon Group • We will be on your side. We will work to meet your

• We will keep your information confidential.

needs. We will always put you FIRST! • We will explain the entire process to you in advance • We will respect your time and will work to

before you start your home search.

accommodate you and your schedule.

• We will educate you on all of the terms on the Buyer • We will respond to your phone call or emails as quickly

Agreement and Sales Contract.

as possible.

• We will always negotiate price and terms in your best • We will discuss the benefits and drawbacks of each

interest.

home in relation to your needs.

• We will coordinate and monitor the inspections, • We will be honest with you; even when we have information that you may not want to hear.

• We will search the market constantly for newly available homes that may meet your wants and needs.

• We will help you compare homes so you can make an educated decision.

document preparation and other steps of the closing process.

• We will refer you to proven and trusted professionals throughout the entire process.

• We will do what it takes to live up to our mutual agreements to remain your “Realtor of Choice” FOREVER!

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What The Deldi Ortegon Group Expects From You • Be honest with us and keep communication open throughout our relationship.

• If you see a listing that piques your interest, call us! We run marketing reports and bring the tools you need to make an informed decision.

• Be available to look at homes and let us know if you are going to be out of town.

• When attending open houses - be sure to bring your agent or agent’s card. Going solo may give the agent

• To prevent incorrect or biased information from

representing the seller the wrong idea - that they

reaching you - we advise not to speak with other

now represent you. Remember: the sellers pay our

agents.

commission, not you!

• If your wants, needs or financial situation change please let us know.

• We are 100% loyal to you and we expect the same in return!

• When looking at new construction, let us know! We

• We love referrals! Be sure to let everyone know about

have built relationships and have industry insights to

the high level of service we provided to you! We have

builders and their level of quality and expertise.

built our business from referrals and appreciate you spreading the word!

• If you see a “For Sale By Owner”, call us first. We usually get sellers to work with us and we can be there to represent you and your best interests.

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ABOUT THE DELDI ORTEGON GROUP “...PROCESS WENT AS SMOOTH AS POSSIBLE.�

"...COMPLETELY KNOWLEDGEABLE ABOUT THE MARKET..."

Deldi and her team were nothing short of exceptional when it came to the service

Deldi has sold two houses for us now and we would not hesitate in using her

they provided. From beginning to end, the process went smooth as possible. The

again. We have recommended her many times, including to my parents who

professional service she and her team provided is greatly appreciated.

listed their house with her recently. One thing we really like about her is that she is completely knowledgeable about the market, but she is not pushy. She took

"...RECOMMEND HER WITHOUT ANY RESERVATION..."

Deldi Ortegon is very professional, sincere, and honest. She tells you what she thinks,

time to listen to us and was willing to be flexible to meet our goals. We consider her a good friend.

hears you out, and works with you to decide on the best plan of action to sell your home. I would recommend her without any reservation to anyone who is trying to sell

"...A RELENTLESS REAL ESTATE AGENT..."

their home. Her staff was very professional, courteous, and timely in their updates.

Over the last couple of years I have had the pleasure of working with The Deldi

It was a pleasure having her as our selling agent. You can feel confident and rest

Ortegon Team. If you're looking for a relentless real estate agent who will do

easy that your home is being marketed to its fullest potential with Deldi Ortegon!!!

whatever it takes to make sure her clients receive the service they deserve, Deldi and her team will get the job done.

"...LESS THEN A WEEK OUR HOUSE WAS SOLD." My wife and I were very happy with the buying and selling experience with Deldi

"...I WILL REPEAT, DELDI DELIVERS!!!!"

Ortegon. As soon as we signed with her, professional photos were taken of our house,

Deldi delivers - Impressed with her knowledge and professionalism. Can't go

the listing was up, and within less then a week our house was sold. Her suggestions

wrong with Deldi. We lived in south Texas for three years and we had a desire to

were very helpful. I highly recommend her.

move back to the midwest for family reasons. Deldi was able to sell our home in just two weeks, a remarkable accomplishment considering the real estate market

"...KEPT IN TOUCH WITH US..."

at the time. For this reason I will repeat, DELDI DELIVERS!!!!

Ms. Ortegon was very pleasant to work with and sensitive to our needs. I was impressed when she said "first things first... start packing, we're moving you out."

"...BEST REALTORS I HAVE EVER WORKED WITH."

She delivered on her promise to sell. As other agents normally sign you up and forget

Deldi and the rest of the Deldi team are the best realtors I have ever worked with.

about you, Deldi kept in touch with us to re-group on strategy when necessary. Also,

They had my house in McAllen sold within 2 weeks, they made the process easy

our house seemed to draw more frequent house showings than any other agent we

and stress free. Would highly recommend the team to anyone wanting a great

worked with. Very Pleased.

Realtor with the seller and/or buyer in their best interest.

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We have faith in God as we serve this community.

We put family first yours and ours.

We have fun in creating clients, then friends, for life.

FAITH. FAMILY. FUN. www.SellingMcAllen.com www.SellingSouthTexas.com Market Center 833 Ware Road McAllen, TX 78501

Agent Office 4217 N. McColl Rd. Ste 1100 McAllen, TX 78504

(956) 648-6831 Each office is independently owned and operated.