Buying A Home in Austin

Whether you are looking for a home on the more peaceful Lake Travis or interested in real estate closer to the city on Lake Austin, our quick results page is the perfect place for you to begin your search. Here you will find homes and lots for sale on Lake Austin, Lake Travis, and Barton Creek. Please contact us and a HomesATX Realtor will get in touch with you shortly.

Purchasing real estate is one of the biggest financial decisions of your life – so it is important to do your homework and insure that you limit your risk and find the home or lot of your dreams. With that understood, it is even more important for you to realize that just because a mortgage company qualifies you for a loan that doesn’t actually mean you can afford it. There is a dramatic difference between owning a home and a home owning you.

So whether you are buying or building a home, we want to make sure that you understand the process.

The 1st Step in the home buying/building process is for you to have all your financial information in order and decide how much of a monthly payment you are able to afford. Far too many people begin the process by falling in love with a home that they later realize they can’t afford but try and make it work. We do not want that to happen to you. Building your future and making you happy is good business, and that is our goal.

The 2nd Step in the process is to choose a lender and either sit down with them for a consultation or fill out an application on-line or over the phone. There are several different mortgage options available nowadays and it is important that you fully understand the them all. This isn’t a one size fits all decision. We can refer you to an experienced lender that can thoroughly go over all of the financing options available to you.

Once you have decided how much of a monthly payment you can afford, and are pre-qualified for a mortgage, the 3rd step in the process is to determine your home search criteria. If you have a family with children, like me, then schools and community life are very important. If you are a single business professional then maybe ease of access to a social network is at the top of your list. Either way, the more time you are able to put into identifying what is really important to you from a home/neighborhood standpoint, the better you will be able describe your ideal home to your real estate agent. I am an experienced Austin Realtor and will be able to provide you with a list of homes that fit your criteria or assist you while you search Austin Area Real Estate Online.

The next or 4th step in the process, is to choose an agent. There aren’t any laws that state you must have an agent represent you, and you may feel more comfortable working alone, but as a professional in the industry I would highly recommend turning to an Austin Texas Real Estate Agent for advice. The real estate laws regarding contracts and procedures are far more complicated nowadays and it is extremely easy to put you and your family at risk. I have over 10 years of experience in this arena and I have been part of a top 10 real estate team in Austin for the last 4 years. I will find you your dream home and negotiate your contract to your satisfaction. That is what I am here to do.

The 5th step in the process is when all the fun begins. Let’s go look at homes that fit your real estate needs. We will run a search for you based on your criteria and/or provide show you how to manage your search of Austin Real Estate for sale by using our Home Search Manager. My website offers a personal Austin Real Estate search client that allows you to save searches based on your criteria, and then be notified when a new home becomes available for sale. Either way, if there is a piece of Austin Real Estate that fits your criteria, we’ll find it and – and arrange an appointment to view that property.

The 6th step in the process is making an offer on the home of your choosing. When writing the offer we must consider the Comparative Market Analysis of other homes that just sold and are active in that area, as well as how much you are willing to pay for the home. The amount of Earnest Money (deposit) you are willing to put down can strengthen your offer. Earnest Money is not to be confused with the option money which is usually a lot lower in value and provided to the seller as compensation for removing the home from the market while you get the home inspected. After we have thoroughly reviewed the property and surrounding community, I will fill out and negotiate the contract with you, with your best interest in mind.

Once your offer has been accepted, the 7th step in the process is to arrange a home inspection. These inspections need to be performed as early as possible in the option period to guarantee you fully understand any problems that arise and are able to receive bids or re-negotiate the price of the home, in order to bring the home up to your specifications. Good inspectors will find items needing repair in nearly every home. With your input, I will request that the seller make specified repairs.

The 8th step in the process comes at the end of the option period and is when you decide whether or not you want to move forward and purchase the home or terminate the contract and walk away – losing nothing more than the option money.

If you decide to purchase the home, we move to the 9th Step in the process which is obtaining a Home Appraisal, and Title and Home Insurance. Lenders require appraisals to confirm that the home for which they’re providing you a loan is in fact worth the amount you’re paying. Appraisers are independent agents normally hired by the lender; however you may have a choice. The fees appraisers charge vary and are typically built into your loan costs. The lender usually pays for the cost of an appraisal and then factors it into the buyer’s closing cost. When you buy a home, a title company examines the chain of titles (previous owners) to insure that there are no problems with obtaining clear title to the property. Parties other than the current owner of the home may have rights to it for things such as mortgages, liens due to unpaid taxes, lien claims to those who the owner owes money, etc. As a new owner, you may know nothing about these risks, but you are still vulnerable to such claims on your property. A deed is not sufficient protection. That’s why title insurance is necessary. It is very common for title companies to also handle the escrow portion of the transaction, meaning they serve as a neutral party to exchange funds and make sure both parties adhere to the agreed upon terms of the contract.

The 10th and Final Step of the process is the closing or settlement of the home. This is when you actually take ownership of the home and the title is signed over to you. We will oversee this entire process, but in summary the escrow agent conducts the closing and is often affiliated with the title insurance company. Their job is to ensure the buyer obtains a clean title, the lender obtains a good mortgage, that the costs of the transaction are paid, that the seller’s mortgage is paid off, and that the seller receives their proceeds. The escrow agent prepares a closing statement that outlines what the required funds are, who’s paying and where the funds are going toward. They will not disburse funds until they can guarantee that the above noted items have been taken care of.

Now that you understand the home buying process, please feel free to learn more about the neighborhoods that make up the Greater Austin Area and let our Austin Area Real Estate Manager help you find you the home of your dreams. This is a completely free home search, including all of Austin Texas Real Estate for sale. The tool allows you to save each search and will update you when a new home becomes available. Please contact us if you would like to see any of these properties and we’ll set up an appointment to for a showing.