In most cases, the seller pays the commission for both agents, meaning professional representation often costs the buyer nothing out of pocket. 3. The "Option Period" & Inspections
Get a pre-approval letter from a lender. This shows sellers you are a serious buyer in competitive markets like San Antonio or Fort Worth. home buying 101 texas
Buying a home in the Lone Star State is a unique journey, from navigating our specific tax laws to understanding the "Texas-sized" variety of markets like Austin , Dallas , or Houston . Here is your essential guide to securing your piece of Texas. 1. Get Your "Texas-Sized" Budget Ready In most cases, the seller pays the commission
A local expert is invaluable for navigating the contracts. This shows sellers you are a serious buyer
Your lender will require an appraisal to ensure the home is worth the loan amount. If the appraisal comes in low, you may need to negotiate the price or cover the "appraisal gap" in cash.
Typically range from 2% to 5% of the purchase price. 2. Find a Texas-Licensed Realtor
The Texas Department of Housing and Community Affairs provides "My First Texas Home" loans with competitive interest rates. 5. Appraisal and Closing