Buying a home is one of the major purchase decisions of your life; therefore, it’s important to be an informed buyer. The following information will help you better understand the buying process and assist you in your efforts.
If you are already a Dallas resident looking to buy a new home, or relocating to Dallas, allow me to help you find your new home. My team and I will find that particular IDENTITY home that matches you and your family’s needs. We understand that buying or selling a home is a serious decision and is a direct reflection of you and your family’s IDENTITY.
Buying a Home
Buying a home can be a confusing experience for the first-time and even experienced buyer. This is why we try to make the experience as simple and streamlined as possible. Below are the simple steps to purchasing a home. Please feel free to reference back to these steps to get yourself comfortable with the buy process.
Step 1: Get Pre-Approved By a Lender
The critical first step to buying a home is to meet with a qualified home lender and have them prepare a pre-approval for you. The lender can then access if you are qualified to purchase a home. The lender will look at credit score, debt to income ratio and other criteria to determine this. Once you have your pre-approval letter you are ready to begin your search.
If you need a Mortgage Broker, we highly recommend Kevin Johnson. We have worked with him for several years now and our customers have been very pleased with his work.
Step 2: Get Representation
This is where you hire us to represent you in your real estate transaction. It’s important to hire a real estate professional to guide you through the real estate process. Best of all it’s a free service to you. A REALTORS commission is paid for by the Seller.
Step 3: Needs + Wants
Prior to beginning the search for your perfect home, we help define that perfect home just for you! We discuss your needs and wants and weigh each of these factors to simplify the search for your new home. Click through to home buyer preference sheet.
Step 4: Home Search
We devise a home search strategy specific to your needs designed to make you a competitive shopper. We give you several easy-to-use tools and methods to search for your new home. In addition, we can set up automated homes searches that continually inform you of the status of the current market through email.
Step 5: Negotiations
This is the flagship of our value to you as a home buyer. We will help you thoroughly analyze the market so you can best determine a fair price for your new home. We will provide all of the necessary paperwork, plus guide you
Step 6: Contract to Close
Before we enter into a contract we must first come up with an offer price on the home of interest. This is determined by reviewing past sold homes and other criteria. When we submit the offer we will attach in the following order:
- Cover sheet
- Pre-Approval from lender
- 1-4 Family Residential Offer/Or Condo
- Third Party Financing Addendum
- Copy of Option Fee (a negotiable amount usually $50-100) which will allow us to inspect the home (a negotiated period generally no longer than 10 days)
- Copy of Earnest Fee which is like a deposit that is cashed in a third-party escrow account written to Title Company. This fee will show up as a credit to buyer at closing if you proceed with transaction. If you exceed option then back out of contract this fee will be retained by seller for buyer default.
Once a price is agreed upon we will be under contract and go through the following steps:
- Deliver Option Fee to seller within 2 days
- Deliver Earnest Fee to Title Company within 2 days
- Get a Home Inspection to assure home is in good standing (we will provide list of inspectors for you). Write inspector check (fees vary).
- Negotiate repairs if necessary
- If seller is unwilling to negotiate or if you need to cancel contract do so now prior to ending of option period.
- After option expires continue to get loan approval
- Title Work and Commitment
- Review Survey & HOA docs (if any)
- Close on Home!
Find Your Dream Home
Find just what you’re looking for! Use the fields below to describe the listings you’d like to find. I will compile a list of all properties that match your search criteria and send it to you via email.