Buyer Resources

Buying a home usually represents your single biggest investment
The home buying process is one of the most exciting, and frequently stressful, experiences you’ll ever go through. This holds true whether you’ve bought many homes or you’re looking to buy your first, whether you’re in the market for a new primary residence, an investment property or that perfect vacation home in Aggieland.

Define your goals, research your options, make your plans
Given that buying a home is such a big step, it’s very important to educate and prepare yourself as much as possible. This means clearly determining the reasons you’re buying and what kind of home or property you’re looking for. Since buying and financing a home are so closely related, it also means examining your current financial situation and projecting how much you can afford.
Once you’ve answered these questions, even tentatively, you’ll be in a better position to research housing and mortgage options, and create an action plan and timelines for moving forward.

Get pre-approved for a loan
We recommend that you get pre-approved for a loan before you start viewing homes with the serious intention of buying. The pre-approval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history. On the basis of this examination, the lender may provide you with a document detailing the amount you can borrow to buy a home. We can provide a list of mortgage lenders that our past clients have chosen and complimented about their services.

The benefits of pre-approval include:
You’ll know what you are eligible to receive and be able to plan accordingly
. As a qualified, buyer you’ll be taken more seriously when you make an offer and attach your pre-approval letter. Lenders can tell you if you qualify for special programs that will help you afford a better home (particularly if you’re a first-time buyer).

Contact a real estate professional
Buying real estate is a complex matter with many factors to consider since no two homes or transactions are alike. Moreover, with all the unique opportunities and potential pitfalls of the current market, it’s more important than ever to contact a real estate professional once you’ve decided
to buy.

View homes and select THE ONE
Simply put, the key to the home search process is knowing what you’re looking for. Among other things, that means distinguishing between “must-haves” and “like-to-haves”.
There are many benefits to starting the search process at a real estate website. You can view many homes and their details. However, it’s also important to view homes in person. While the property details may seem similar online, homes can be very different in terms of layout, design, workmanship and other aspects. Ideally, you should view homes with the help of an experienced real estate professional who’ll notice things you might miss, provide expert analysis, and act as an impartial sounding board.

Make an offer and negotiate with the seller
Once you’ve found the home you’d like to buy, it’s time to make an offer. Your real estate professional will have contracts that are generally used for your transaction. These contracts enable you to specify a sale price and also allow the inclusion of clauses specifying various terms of purchase, such as the closing and possession dates, your earnest money and option money amounts, and other conditions. You should carefully review these clauses with your real estate professional to be sure that they accurately express your intended offer. In addition to drawing up the contract, your real estate professional will be happy to address all of your questions about the offer process.
Once you’ve written the offer, your real estate professional will present it to the seller and/or the seller’s representative. At that point, the process will vary somewhat depending on the market you’re in. Generally speaking, the seller can accept your offer, reject it, or counter it to initiate the negotiation process.
Successive counter-offers, with deadlines for responding and meeting conditions, may be exchanged between you and the seller until a mutual pending agreement is reached or the negotiations breakdown.

Secure your financing
Once you have a executed contract it’s time to return to your chosen lender to finalize mortgage details in order to close the deal. This means finalizing your down payment, interest rate, regular payment schedule and all other financial conditions associated with the closing.
Close the deal. If you’ve efficiently taken care of everything connected with purchasing your new home, taking ownership should be a positive joy with no surprises. Key steps to the closing, also referred to as the “escrow” or “settlement”, include:
Finalizing your loan. Underwriting processing. Obtaining insurance. Transferring utilities.

The final walkthrough – you will be given the chance to look at the home one last time to make sure it’s in the same condition as when you signed the sale agreement.

The closing will include paying your closing costs, legal fees, property adjustments and transfer taxes.

In most cases, the possession date will fall within a day or two, and you will be able to move into your new home.