How Do I Buy A Home in Houston, Tomball or Magnolia? A Brief Overview of the Process.
Believe it or not, the first thing to do is talk to a lender and find out how much house you qualify for. I actually work with two terrific lenders. One of them has some great first time home owner incentives specifically designed for those people who have not owned a home in the last three years. Send me an email to firstname.lastname@example.org requesting lender information. After you fill out a credit application, the lender will let me know your prequalification amount.
Once we know how much you qualify for, I can start sending you houses to look at on line. You email me your favorites, and let me know when you want to go see them. I'll set up appointments for us to view the houses and you let me know which one you want.
Then we go to my office and I prepare an offer for your signature , you write a couple of checks and we attach the prequalification letter and I send it all to the listing agent for them to present to the owner for their decision. They can accept, reject or counter the offer we submit. Once everyone agrees to the price, we then do an inspection and usually ask for repairs to be made based on the inspection report. (Note: Usually sellers of foreclosures and short sales will not do any repairs and will not pay for any repairs).
If this is a finance deal, we also need an appraisal and maybe a survey . Once those are taken care of then we can usually close once the financing is complete and theHOA transfer paperwork is done. At closing you sign a large stack of papers and then you get the keys to the house. Closing on a finance deal is usually set out 30 - 45 days.
Don't let this intimidate you. Your job is to provide paperwork to the lender and pick the right house for you. My job is to coordinate the rest and try and make your purchase as stress free as possible.