You’ve found the perfect house – or buyer – and you’re on your way to closing, where ownership of the property is officially transferred and money changes hands. This final stage of a real estate transaction has many steps. Your Texas realtor can help you navigate the closing process and answer questions that may arise, but here’s some advice to help you prepare. Understand the closing process Before closing, buyers should review everything that has been done in connection with insp ...

While some real estate transactions are completed with the acceptance of an original offer, it’s more common to see negotiations, or counter-offers, between buyers and sellers before the deal is done. Even though the counter-offer phase of a real estate deal may seem overwhelming, you can make it through with the help of your Texas REALTOR® and some insight on what to expect. The basics of counter-offers At its most basic, a buyer usually submits an offer with specifics on the purchase pri ...

When you think of your ideal home, do you envision a detached, single-family house with a big lawn? Many people do associate this image with homeownership, but the best fit for you might be a historic townhome on a tree-lined street or a top-floor penthouse overlooking a city skyline. Whatever you imagine, choosing the right property depends on your situation and goals.

At some point during your homebuying process, the topic of title insurance is likely to come up. Like most types of insurance, title insurance is better to have and not use than need it and not have it available. But what is it, why do you need it, and how does it work? What is title insurance?

When you’re looking for a good restaurant, you might get some advice from a friend, coworker, or family member. The same is true when you’re searching for a real estate agent to help you buy or sell a home. In fact, referrals are one of the top ways that agents get new clients.

Did you know that buying a home can require new vocabulary? As part of your homebuying research, learning real estate-related terms will make you an educated buyer and put you in a powerful position to purchase your first home. Appraisal When you purchase a home, your lender will require a property appraisal.

Real estate transactions are complicated, and misunderstandings occur all the time. It doesn’t matter if you’re outlining your relationship with an agent, making an offer on a home, negotiating repairs or handling some other element of a real estate transaction. Get it in writing or face an increased risk of ending up involved in a lawsuit. Start with good form The best way to obtain a written record of an agreement in a real estate deal is to use a form specifically created for your tran ...

If you’re buying a home, it’s likely that you’ll be applying for a mortgage. Before lenders decide what they’re willing to offer you, they will want information about your employment history, salary, bank-account balances and your credit history. Are you aware of what they will find? You can’t afford not to get your credit report The Fair and Accurate Credit Transactions (FACT) Act of 2003 made it possible for consumers to access free copies of credit reports (also called credit-file ...

Think back to when you were a first-time homebuyer. Were you excited but overwhelmed? It’s not unusual to feel that way as a first-time seller either, and it’s just as involved a process, if not more so, but knowing what you can expect can make the selling process go smoothly.

If you’re planning to buy a home, you likely have a long to-do list. But one item that should take priority is obtaining pre-approval or pre-qualification for a mortgage loan. Either scenario puts you in a stronger position as a buyer, but they mean different things. Are you qualified? To get pre-qualified for a home loan, you must provide a lender approximate income, current debts, and any important details from your credit history.

Whether you’re selling your fifth home or your first, there are many ways to be a smarter seller. Being prepared and taking an active role can help you reduce stress and lessen your property’s time on the market. Remember that you're the one who can provide the most accurate information about the condition of your home.

Buying a home is a time-consuming, yet exciting, journey. From approvals to finding the home you want to buy, your Texas REALTOR® can help you at every step along the way. Advice from your Texas REALTOR® will help you out in the long run. But there’s a lot you can do to make the process go smoothly.

Did you know there’s an “undo” button for buyers in a real estate contract? Paragraph 23 in the Texas Real Estate Commission residential sales contracts, the “termination option,” lets buyers pay a fee for the right to terminate their contract during a defined period of time. The termination option isn’t a required element of a contract to purchase a home but most buyers make it part of their offer.

Many homebuyers mistakenly confuse getting an accepted contract on a home with closing the deal. Don’t be one of them. Texas REALTORS® refer to this challenging period as “contract to close.” Of course, getting a signed contract is reason for celebration for both the buyer and the seller, but there’s still a long way to go before the homebuying transaction can be successfully completed.

When a property changes hands, what goes with it? Unless otherwise stated in the sales contract, you won’t find a comfy couch and huge flat-screen TV waiting for you when you move in. But what about curtains, carpets or mirrors? The question of what conveys, or is included, with a property can be more complicated than you think.