Austin, TX Real Estate Closing Process

After you find the Austin Texas home you want to buy you will need to decide how much you’re willing to pay.   Some Austin Texas real estate markets have multiple offers on the same home, so you may only get one chance to make an offer that the seller will consider. That’s why it’s important to think carefully about your strategy.  As your Realtor I will give you a list of similar homes nearby that have sold recently, and for how much.  I will help in determining the condition of the home, and if we can have the seller pay for repairs or other cosmetic improvements.  I will let you know if we are in a buyer’s market—where there are more homes for sale than there are people to buy them—prices are probably stable or falling. If you are in a seller’s market—where there are more buyers looking for homes than there are homes for sale—prices are probably moving upward.   A home is likely the largest investment of your life, you should know as much as possible about what you are purchasing.  Most Texas real estate contracts contain provisions for a home inspection and must be performed within a certain time frame.   The inspection should cover
At a minimum, Exterior structural components, including the foundation, roof, siding, and chimney.  They should also cove interior structural components, flooring, ceilings and the major systems, including heating, cooling, plumbing, and electrical.  It is best if you are at the home during the inspection so that you will have an opportunity to ask questions and see first-hand what the inspector looks at. A detailed inspection report with descriptions, and possibly photographs, of any problems with the Texas home will be provided.

 

Austin, TX Dream Home | The Closing Process

 

You’ve found your Austin Texas dream home and have agreed on a price with the seller, had the home inspected, and now you’re ready for the closing, where you will officially take ownership of the property. Congratulations!  You’re at the end home buying process—and the beginning of your homeownership. The closing date will depend on when the Austin home seller is ready to move out, when you are ready to move in, and when all of the mortgage details have been finalized. Usually both Buyers and sellers, real estate agents for the buyer and seller, closing agent, title company representative and mortgage company representative will all be there.  The closing phase very paper-intensive, you will have to review and sign a stack of documents, some of them in duplicate and triplicate. You closing costs can including: Lender fees, such as an appraisal fee, credit reporting fee, origination points, and discount points.  Third-party fees for services not provided by your lender, which may include a settlement fee, title insurance, and attorney’s fees.  You will also pay prepaid items, such as prepaid interest, hazard insurance, and deposits to set up a home escrow account.