3. Contact for a Home
 Systematic steps to buy your home
     
 

Determine Value
  In order a reasonable offer one needs to estimate the value of the home. To assist we will give you an analysis of sales in the subdivision of comparable problems. In addition a Comparable Market Analysis (CMA), we will advise you of condition of the property as compared to neighborhood homes, shopping and school. 

Negotiate a Contract
  Your offer to purchase a home will be completed in a comprehensive contact describing your all your intents to purchase using the Contract forms promulgated by the Texas Real Estate Commission. We will deliver the contact promptly insuring timely presentation to the Seller. 
  The Seller will have the option to accept the offer, reject the offer, or counter the offer. If the contract is countered it is a new offer which you can accept, reject or counter.  During this procedure, the Seller will be free to accept other offers, and does not restrict you switching to other properties.  We are your representative and our fiduciary duties to you.
 

Inspect the Property
  Our clients need to know what they are buying, therefore we insist on all properties being inspected. Inspectors are licensed by the TREC to offer standard and comprehensive review of the major components of the property. The will check the structure including the plumbing fixtures, electrical outlets and switches, heating/AC, dishwasher, ovens, ranges, hot water heaters and chimney. We recommend to have the foundation and roof inspected for a separate fee.
  Once you have determined the condition of the house, you will determine if the home is in acceptable condition, if you need repairs made in order to continue with the contract, or if you wish to terminate the contract. We will be there with names of experts to help you make those decisions.
  Close
  Once your financing is approved we will go to closing. You will deliver certified funds to the Escrow Agent at the title company.   The lender will give the Escrow Agent "closing instructions" and provide most of the documents. You will sign a Note, Deed of Trust, settlement statement (HUD-1) and approximately 200 pages of other documents.
  You will receive a survey of the property. A few days after closing you will get a recorded Deed from the County Clerk. 		 

 

Texas Real Estate CommissionNotice Regarding Contract Forms

  • As public records, the contract forms adopted by the Texas Real Estate Commission are available to any person.
  • However, TREC contract forms are intended for use only by licensed real estate brokers or salespersons who are trained in their correct use. Mistakes in the use of a form may result in financial loss or a contract which is unenforceable.
  • If you are obtaining the forms for possible use in a real estate transaction, you should contact a real estate licensee or an attorney for assistance. TREC cannot provide legal advice to the public on private contractual matters.

TREC does not promulgate listing or buyer representation agreements, property management contracts, forms for commercial property, or residential leases (other than temporary residential leases used in connection with a sale). Contact your attorney or a trade association for such forms.