Realtor Dallas

A mortgage is a type of loan to finance a property or to borrow money against the value of a home you already own. A mortgage serves as a secure loan that comes with a fixed interest rate and gets paid off over 15 or 30 years. If need be, you can refinance a mortgage and payments in the future.

The absolute first step is to get approved for a mortgage. Without being approved for a mortgage it will be quite difficult, if not impossible, to purchase a new home.

Step 1: Check Your Credit Score.

Step 2: Determine How Much You Can Afford. 

Step 3: Choose A Lender and Get Preapproved For A Mortgage. 

Step 4: Find A Real Estate Agent.

Step 5: Make An Offer. 

Step 6: Get A Home Inspection And Home Appraisal. 

Step 7: Close On Your New Home.

This is a tricky question, and the answer primarily depends on your funds and ability to find temporary housing. If you need more equity to purchase a new home or meet a mortgage plan, then it is best to sell your current home before purchasing the next one. That being said, you will most likely need temporary housing at a friend or relatives, or by arranging a short-term rental elsewhere.

Yes, a home inspection is one of the most vital steps when purchasing a property. A professional inspector has a keen eye for how well the house has been taken care of. The inspectors can comment on structural and cosmetic issues, along with any local code issues. Moreover, a home inspector will help you better determine the home’s value.

A buyer’s agent fee is the commission fee that the real estate brokerage representing the buyer collects as compensation for completing the transaction. Typically, a buyer’s agent fee is negotiable percentage of the transaction value or half of the total commission.

A final walk-through is not require however highly recommended. Final walk-throughs gives the buyers a chance to make sure nothing has changed since their initial inspection or previous visits. Also, if repairs were requested as part of the sale offer then a follow-up visit ensures all repairs are done according to the agreement and contract.

Earnest money is similar to a deposit when renting a place. It is made in good faith to demonstrate to the seller that your offer is legitimate.  The money also gives the buyer extra time to conduct a title search, get an inspection and property appraisal, and financing. It is usually which around 1–2% of the home’s sale price.

The number of houses each client wants to view can defer greatly. You can now see houses online by taking virtual tours or seeing detailed photographs. I can help gain access to virtual tours to view as many properties as you desire. Once a list is narrowed down, we can visit those properties together.

If you get cold feet about a property that is okay. Sometimes, you have second thoughts or want to go in a different direction. Just be aware that you will have to forfeit the earnest money, which again, is around 1–2% of the home’s sale price.