How to Buy A House in Texas – Quick Guide!
Finding and buying the ideal property can be a dream come true. There is something special about walking up to the front door on moving day, sliding in your key and entering the foyer of your beautiful new home.
However, getting to that point can be a nightmare unless you have the right real estate agent working with you throughout the buying process. As your real estate agent, I ensure that I will do two important things for you:
- Help you buy a home that matches your requirements;
- Make the process simple and easy.
Keep reading for a quick guide to give you an idea of what to expect along the way.
1. Get Pre-Approved for a Mortgage
The first step is to get pre-approved for a mortgage. Getting the mortgage pre-approval is necessary before making an offer. Be sure to learn about the lender’s requirements. If you are a first-timer buyer in Texas, take advantage of the programs they may offer. It is important to do this step FIRST because without pre-approval, your offer will not be taken seriously. Plus, talking with a lender will let you know what price range you should be shopping in. If you plan to purchase using cash and do not need a loan, you can skip this step.
2. Start the Property Search
Once you’ve been pre-approved for a mortgage, the hunt for properties for sale begins.
Use my website’s search engine or Realtor.com, as they update more often than other home search websites. You can also tell me what you are looking for and I will set you up for automatic updates, and you will see new listings before they even hit Realtor.com in some cases. If you prefer that I do all of the searching based on your criteria, I provide that service as well.
3. Make a Written Offer
Once you’ve decided on a certain property, you’ve moved on to the next of the requirements to buy a house in Texas: making an offer. In Texas, offers to purchase property must be written. This is one of the requirements to buy a house in Texas that a real estate agent can significantly help buyers with. I will write the offer, and either send it to you to sign digitally or meet with you to go over it in person. Once it is signed, we will submit it and wait for a response. Negotiations begin. It will either be declined, countered, or accepted. Once it is accepted, we enter escrow.
4. Escrow: Have the Property Inspected and Appraised
The next of the requirements to buy a house in Texas includes two real estate professionals: inspectors and appraisers. An inspector assesses the physical condition of the property, while an appraiser determines the property’s value. You will be responsible for the cost of both of these services. And while an inspection is optional, an appraisal is required for all purchases that involve a loan. The period of time from an accepted offer to closing day is called escrow, or we refer to it as being “under contract.” At the beginning of escrow, you will also pay an earnest deposit and possible an option fee.
Earnest and Option Explanation
5. Closing Day
After all contingencies have been met, it is time to close! Closing day is when the seller receives the funds and you receive the deed and keys to your new home- after meeting at the title company and signing a big stack of papers! Yahoo!
Ready to Get Started?
This website is packed with information that will answer many of your questions, and make your home buying journey easy. Look at additional links under this page name for more detailed info on each step. Knowledge is key.
When you’re ready to talk, please call, email or submit the form below.
Let’s work together to find your dream home!