Texas Home Shop Realty
Buying Made Simple
Step 1: Budget and down payment
Get prequalified with a lender and determine what you can afford. Need help finding a reputable lender? Ask any of our agents at Texas Home Shop and we can give you some criteria to look for in a lender. Typically, your total housing payment (including fees, taxes, and insurance) should not exceed 35% of your gross (pre-tax) income. Better interest rates come with larger down payments, typically 20%, but you can certainly buy a home with less money down.
Step 2: Get pre-approved
Sellers are typically more willing to accept offers from pre-approved buyers, because it shows that the buyer has the financial resources available to fulfill the obligations of the offer. Shop around! Get quotes from multiple lenders and ask plenty of questions and read their reviews online before making your decision. Also, don’t make any big purchases or life changes. This can change your pre-approval status and could prevent you from making it to closing.
Step 3: Find an agent
The seller pays all real estate commissions in a home sale, so make sure your agent is knowledgeable and willing to help guide you through the process. Texas Home Shop Realty has 10 licensed agents to choose from and with any agent, you’ll get a team approach to buying a home.
Step 4: Find a home
Once you’re pre-approved and have an agent, you’re ready to look for a home! Most home buyers are already browsing homes day and night on www.texashomeshoprealty.com. When searching, think about which neighborhoods you are considering and make a list of necessary home amenities. Your Texas Home Shop Agent is an expert in the Clear Lake area so if you’re confused or overwhelmed, we are happy to help guide you in the right direction.
Step 5: Make an offer
When you’ve found “the one”, your Texas Home Shop agent will write a formal offer, walk you through the verbiage and you’ll sign it. Once you submit your offer, the seller will review it with their agent and accept, decline, or submit a counteroffer.
Step 6: Close
Once you and the seller agree on the terms, you’ll enter the closing process, or escrow, which usually takes 30 days. Closing costs are typically 2-5% of the home price and will need to be discussed with your lender.
