Here s a great home buyer guide to help give you more vision

HAVE FUN! Buying a home should be an enjoyable and exciting time. The Texas Born Team will do our very best to create a stress free experience with the focus on achieving your goals. Read through this Quick Home Buyer Guide we created to guide you a better understanding of the process.

• Working with our team of licensed local REALTORS® familiar with Texas laws and markets is essential for navigating the home-buying process efficiently. Check our some TESTIMONIALS HERE from some of our friends (clients)!

• Buying a home or property requires making many important financial decisions, understanding complex issues, and completing a LOT of paperwork. It helps to have an expert like us in your corner when undertaking such a large purchase. We can guide you through this process, and also provide you with access to property listings before they hit the general market.

• More reasons why you need a legal professional REALTOR® – click here

• Credit Score: A good credit score (typically 620 or higher for most loans) to qualify for a mortgage.
• Down Payment: Most loans require a down payment, ranging from 3% (for FHA loans) to 20% (for conventional loans).
• Closing Costs: Be prepared to cover closing costs, which average 2-5% of the home price.

• Obtaining a mortgage pre-approval letter is essential to demonstrate your purchasing power to sellers.
• Pre-approval requires proof of income, employment history, and financial assets.

• Valid ID: A government-issued ID or driver’s license is required for verification.
• Proof of Residency or Citizenship: Non-citizens may need a visa, green card, or Social Security Number.
• Tax Returns: Typically required for the last two years, especially for self-employed buyers.
• Bank Statements: Recent bank statements to verify available funds for the down payment and closing costs.

• Lenders typically require at least two years of steady employment or income in the same industry.

According to our Home Buyer Guide – Once those preparations are out of the way, it is time to find the right property for you.

Take a Drive.

Get to know the neighborhoods, complexes, or subdivisions which interest you. Drive around and get a feel for what it would be like to own a property in the area. Start getting a sense of the properties available in those areas.

Narrow Your Search.

Select a few properties that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long term resale value of the properties you are considering.

Time to Buy.

Once you have picked out the property you want to purchase, your real estate agent can help you make an offer that the seller will accept. A good agent will investigate the potential costs and expenses associated with the new property. An agent can also help you draft your offer in a way that gives you the advantage over another offer.

Once you’ve found the perfect home or property, the next step is signing a purchase contract. This legally binding agreement outlines the terms of the sale, including the purchase price, closing date, contingencies (such as inspections or financing), and any additional conditions agreed upon by both parties. It’s essential to review the contract carefully with us your REALTOR® to ensure all terms align with your goals. Once signed, you’ll typically provide an earnest money deposit to demonstrate your commitment to the purchase, moving you closer to closing day.

• Typically 1-2% of the purchase price, an earnest money deposit shows your commitment to the transaction.
• Done in 3 days of the executed contract

• The amount of days to negotiate repairs that have been found during the inspection.
• A professional home inspection is critical to identify any potential structural or maintenance issues.
• Inspections are generally required for financing but also for buyer protection.

• An appraisal is required by lenders to ensure the home’s value matches or exceeds the loan amount.

• The home must meet safety, livability, and health standards, particularly for FHA or VA loans.
• Common issues that could disqualify a home include major structural damage, plumbing issues, or electrical hazards.

• Proof of homeowners insurance is required before closing.
• Coverage protects the home and lender against potential risks, such as fire, theft, and natural disasters.

• Texas has some of the highest property taxes in the U.S. Be aware of annual tax obligations in the city or county where you’re buying.

• A title search ensures there are no legal claims, liens, or disputes on the property.
• Title insurance protects against future claims to the property.
• Our preferred Escrow Officer is Katrina Lane

• If the home is in a community with a Homeowners Association (HOA), review covenants, fees, and restrictions.

• Property Disclosure: Sellers are required to provide a disclosure form detailing known issues with the property.
• Homestead Exemption: Texas offers a homestead exemption to reduce property taxes for primary residences.
• Flood Zones: Check if the property is in a flood zone, as additional insurance may be required.

Conduct a final walkthrough to ensure the property is in the agreed-upon condition before closing.

The final inspection takes place a day before, or the day of the closing. You will visit the property to verify that all is in working order, everything is the same as when you last viewed the property, that there are no extra items left behind, and that everything included in your purchase is still at the property.

Home Services and Utilities.

We will provide a list of useful numbers for the activation of home services and utilities before the closing occurs.

Be Prepared.

We are ready to assist you should an unforeseen glitch pop up, even at this last stage. Something at the property breaks down, or some other minor detail – no need to worry. We have encountered these problems before so we know how to handle them efficiently and in a stress-free manner.

Closing.

The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. You and the seller(s) will sign this statement, as well as the closing agent, certifying its accuracy. If you are obtaining financing, you will have to sign all pertinent documentation required by the lending institution. If you are unable to attend the scheduled closing, arrangements can be made depending on the circumstances and the notice that we receive. If you are bringing funds to the transaction, you can elect to either have the funds wired electronically into the closing agent’s escrow account, or bring a certified bank check to the closing in the amount specified on the settlement statement. The seller should arrange to have all property keys and any other important information for you at the closing so that you may receive these items at this time.

Moving.

Move into and enjoy your NEW HOME! If you have a free moment please let us know how this Home Buyer Guide helped you by leaving us a review on our Google Business Profile Here!