Steps to Home Ownership

"If you're looking for a home, its imperative that I fully understand your needs, hobbies, and lifestyle desires so that I can guide you to the perfect place to call home. I will drop everything to show you that brand new listing on the market and deliver an offer quickly even if it's after hours. When it comes to a multiple offer situations, I'm extremely competitive and utilize proven strategies that have helped so many of my clients get the home of their dreams.

 

Houston has so much to offer, my family and I relocated here from Los Angeles in early 2007 which has given me hands-on experience of the relocation process. I know exactly what you are going through and how important the right choice of community, lifestyle, and amenities are to making your transition here as seamless as possible.

 

Moving to Houston was the best decision for my family and there is no place I would rather live, work and raise my family. I am also a momma of 4 including two adult children so I have been through many stages of life that also help me relate to your needs effectively. I want to help make your future here in Houston a great one!"

 

Somer Padilla

Pre-Qualification

Congratulations on researching the home buying process. When you do find your perfect home, you may need to act quickly. That's why it's a good idea to make sure you have all your financial arrangements in order beforehand.

 

 

  • Set a budget (a mortgage broker can help with this)

  • Plan for a down payment (typically between 5 and 20 percent of the asking price)

  • Get copies of your current credit report

  • Get preapproved for a mortgage

 

All offers should be submitted to sellers with a pre-qualified letter from your lender or proof of funds if paying by cash. If you don't have a solid credit history, don't worry, it typically takes about 3-6 months for potential buyers to work on and repair credit issues, so it always best to talk with a loan officer early and have them start the pre-qual process. If you are not pre-qualified, they will tell you what needs to be done. I have worked with several local lenders that I can refer you to. Just contact me.

 

To get preapproved, your lender will request:

  • A credit check

  • Current bank statements

  • Pay stubs

  • Tax returns

  • Other documentation

Negotiations

Once you have selected a house, I will provide you with comparable sales in that neighborhood, so that we can decide on the offer price. I am a Certfied Negotiation Expert (CNE) and it is my job to get you the best price on your new home. I will draft the initial contract and present it to the listing agent. At the same time, I will provide you with an estimate of closing costs


Please feel free to have an attorney look over your contract or come to closing to represent you. Although the contracts and most closing papers are standard forms, it is your right to have an attorney represent you.

 

The Search

During our first conversation, I will ask you pertinent questions prior to your house hunting trip, and ask that you please provide me with as much information as possible. This will assist me tremendously in the preliminary home search for your specific needs. Don’t forget to share the things that you may consider trivial, such as a favorite piece of furniture you need to fit in, Aunt Sally who is a frequent guest, or the fact that golf IS your life! We are experts in our field and can make the moving experience a pleasant one for the entire family. I can also provide information relative to your other needs, such as child care, church preferences, special medical needs, and assistance for the elderly. If you have a need and can’t find a resource or an answer, I will find the answer for you. Please do not hesitate to ask, service is my business.

Closing Steps
  • Open Title: I will open title at the selected title company.  Title will take care of all deed transfers, HOA transfers, title commitment, and paperwork. Two checks will be needed. One for the earnest money typically 1% on resales and the other is to the owners for the Option fee, which is typically $100-$250. Both amounts will can be credited back to you at closing. The option fee allows you 10 days to back out for whatever reason. This is the time period that inspections will need to be done.

  

  • Inspections: First thing for you to book is a home inspection, termite inspection, and any other inspection you feel necessary! I encourage you to research inspectors.  You don't have to be there for inspections, but it is ideal if you can be, so that you can learn about the home and where things are. Once inspection report is delivered you can forward to me. We will need to discuss what repairs to ask for if any is needed. This will be another negotiation stage. The seller can decline, accept, or partially accept. You can ask for the repairs to be done, money back at closing, or money off the sale price.

  

  • Lender: Your lender will requires numerous documents from you, Please do not be offended by what the mortgage company will ask you to provide. Because of the mortgage crisis across the country, the investors are requiring more information and the guidelines are more stringent. Your loan officer will order an appraisal which will determine if sale price is acceptable by your lender. Please be prepared that lenders and their underwriters will stress you out. 

 

  • Appraisal: Your lender will order an appraisal. Typically this takes about 20 days to get the appraisal report. The home must appraise for at least the sales price. If it doesn't 1 of 4 things can happen; 1) seller reduces sale price, 2) buyer pays original sale price 3) buyer and seller meet half way or 4) contract terminates. 

 

  • Home Insurance Policy:  Your lender will require you to pick a home insurance company to hold your policy (this is different than your home warranty).  I use and have recommended www.insuranceofhouston.com. They will shop several companies for you for the best rate and coverage. The insurance company will need your loan officers info so they can send them the policy information. The year policy will be paid at closing but you also have the option of putting it on a credit card to save on closing costs. 

 

  • Home Warranty company: You can ask the seller to pay for a one year policy. Home Warranties cover repairs of appliances, pumpling, HVAC, etc inside the home.

 

  • Closing Statement: This statement is provided by the lender 3 days before closing. It is a breakdown of debits and credits. It will tell you the amount you need to bring to closing. You can either wire the funds or bring a cashiers check.

 

  • Day before Closing: We will schedule a walkthrough, either the day of closing or the day before, to make sure home is in same condition as when you last saw it and to make sure repairs, if any, were completed. 

 

  • Closing Day/Commencement Day: Bring your drivers license and funds for closing! Plan to be there about 1 1/2 hours. After signing and your lender funding you will be the happy new homeowners!

 

 

8522 Creekside Forest Dr
The Woodlands, TX 77375  

281-257-8029

Somerhomes@gmail.com

Consumer Information Form 1-1
Required by Article 22 of the Texas Administrative Code 531.18.2​
Information of Brokerage Services
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