Once You’ve Found the Home You Want to Buy

You’ve found your dream home. Now, how do you go about buying it?

The first step is to get a Disclosure from the seller. This document will list all the problems the seller knows about the house. By law, the seller is required to give it to you. If you are still interested in the house after receiving the Disclosure, find out how much you should offer for the house. A realtor can assist you in determining this. However, be aware that the higher the selling price of the home, the more money the realtor makes. Therefore, they may be biased.

In general, people offer slightly less for the house than what the seller is asking. By comparing price of the home with several other comparable homes in the area, you should have a better idea of a good price.

When you make an offer on the house, you will have to sign a contract. If the seller accepts, they will need to sign as well. At this point you are legally obligated to purchase the home, and the seller is legally obligated to sell unless the contract specifies circumstances in which the deal falls through.

You will need to pay to have the house professionally inspected. This generally costs about $400. If the inspector finds items not listed on the Disclosure, you can ask the seller to reduce the price or walk away if the contract specifies this as an option.

Contact Us

For more information on buying a home in Texas, contact Texas Mortgage Loans.