February 7, 2009

Buying your first home – Step 4: Get a Buyer’s Agent

As a home buyer and especially as a first time home buyer you need someone who is looking out for your best interests and a buyer’s agent is just that someone. A buyer’s agent has a fiduciary responsibility to represent his buyer’s best interest including reasonable care, loyalty, and confidentiality. A buyer’s agent is different than a listing […]

February 7, 2009

Is it Spring yet?

Is it Spring yet? Has it arrived yet? The calendar says today is February 7th and Spring does not officially start until March 20th. So no, not Spring yet. And Phil, the famous ground hog, saw his shadow and with it is predicting six more weeks of winter. So no, not Spring yet. But the beautiful display of color […]

February 5, 2009

Major changes in home inspections make for lengthier reports

On February 1, 2009, new state mandated changes for home inspections went into effect. Although the changes come at the detriment of trees as they will increase the length of the inspection reports, the additional reporting and classification change will result in more informed Spring Texas home buyers. Classification change: Previously home inspectors licensed by the State of […]

February 5, 2009

Buying your first home – Step 5: the offer

Now that you have found the ideal home, it is time to make an offer and close the deal. How much do you offer? – First you need to determine if the home is overpriced, priced right, or under-priced for the market. You should have a general idea of how the home’s pricing and value compares to the […]

February 5, 2009

when can you terminate your real estate contract texas

Buying your first home – Step 6: the Option Period

The Option Period – a defined length of time usually 7 to 10 calendar days from the effective date of the contract. The buyer pays the sellers a nominal fee usually $150 – $250 for the Option Period and in exchange the seller gives the buyer an unrestricted right to terminate the contract during the […]

February 3, 2009

Buying your first home – Step 7: the Home Inspection

You have your first home under contract and you are in the option period, it is now time to get the home inspected. Even though you have 7 to 10 days depending upon the length of your Option Period to get your Spring Texas home inspected, you want to schedule them as soon as possible. Scheduling the home inspections as […]

February 3, 2009

What are the tax benefits of owning a home?

When discussing the financial benefits of owning a Spring Texas home, the majority of people understand the concept of building equity. And why building equity in a home is a smarter financial decision than paying rent. Possibly the building equity concept is understood because the majority of people have prior experience building equity in their cars. In addition […]

February 1, 2009

Buying your first home – Step 8: Insurance

Unless you are paying cash for the home, your mortgage lender is going to require the home be insured. The cost to insure your Spring Texas home varies from insurance company to insurance company. Sometimes the difference between the insurance companies rates are so significant that you wonder just what it is you are missing. In order to get […]

January 30, 2009

Buying your first home – Step 9: Survey and Appraisal

Survey – shows if the home is within the property borders, whether there are any encroachments on the property by its neighbors, and the location of any easements. Your Spring Texas real estate contract specifies whether you as the buyer of the home or the sellers will pay for the survey. The survey which costs around $500 – $600 […]

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