3 Important Steps To Buying An Austin Home

Once someone has found the Austin, Texas home they think they really want

, there are a few ways to make sure the buying process is a positive experience with little or no disappointments. By taking 3 simple steps between deciding to purchase a house and signing the last piece of closing paperwork, home buyers are less likely to make a long-term mistake.

Pre-Qualify

Once someone decides it is time to buy a home, they should take the time to get pre-qualified for a loan. It might prolong the ability to seriously start house hunting, but when the right house is found, it will speed up the process considerably. A contract placed by a pre-qualified buyer will be taken much more seriously by the seller than one that must go through the rigorous process. This may also help the buyer receive the interest rate they would like to lock in on, rather than having to wait and missing out on a better deal.

Choose a Trustworthy Realtor

Find a Realtor with a solid reputation and full credentials. Check out their track record with the Better Business Bureau and verify their real estate licensure with the State of Texas. Take the time to speak with the Austin real estate agent before making a commitment. Home buyers should make sure that the agent knows what they are looking for when the Austin home search begins. This will save time and energy on properties that will not be considered by the buyer due to budget constraints or missing must-have features.

Read the Closing Paperwork

The closing of an Austin home contract is often called passing papers. It goes back to the time of sitting at a table and having a real estate attorney announcing what the paperwork is and passing it to the seller, who passes it to their realtor or representative, who passes it to the buyer, then the co-buyer, then their representative. Everyone signs it before it arrives in the final pile near the Austin real estate lawyer again. Since there is much to sign, everyone traditionally just signs the paperwork without reading. Take the time to read it; it is legally binding.

To save a little bit of time before the closing; however, a savvy buyer will ask their real estate attorney's office to email or fax over a preliminary copy of the closing contract. The buyer and/or co-buyer should read it over for typographical errors and basic information. Sometimes mistakes are made in the fine print which could have huge repercussions down the road. For example, the price of the property could read $20,000 instead of $200,000. Not an intentional mistake, yet a costly one. The address could be missing a digit or have a street name misspelled. It is unlikely that anyone will notice the difference during the actual closing meeting, as few people take the time to read the paperwork.

by: Christine Harrell

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