An experienced REALTOR® will advise you through each step of the home buying process and help you understand your options.
An initial consultation with your REALTOR® to discuss needs and goals for the purchase will help to define your search criteria. Depending on your criteria and the state of the market, we can then establish a timeline for making the purchase.
Unless you plan to pay all cash, obtaining a pre-approval letter from a reputable lender is the most important step before starting your home search. Not only does it help us focus on a certain price range to shop within, but it also allows us to present a more attractive offer to a seller (which can be very important if there’s a multiple offer situation). Using a mortgage calculator is often helpful during this step.
Identify homes matching your search criteria and tour them, until you find the right fit! Click here to browse homes currently listed for sale.
Your REALTOR® will help you prepare a formal written offer, with a price supported by recent sales and market statistics, and terms that are in your best interest. Be prepared for counter-offers, as they are common.
Once both parties have signed the final contract, the buyer writes two checks: an earnest money check to the title company (typically 1% of the purchase price; this is applied toward the buyer’s down payment and closing costs) and an option fee check to the seller (typically $100; this gives the buyer the right to terminate the contract for any reason before the end of option period, in which case the earnest money would be refunded).
The negotiated option period (normally 7-14 days) is a time to perform due diligence by scheduling inspections, obtaining estimates for repairs, and reviewing the Commitment of Title Insurance and other documents. Before closing, you will need to secure homeowner’s insurance, and you may want to get a home warranty, too.
The buyer pays the balance due according to the Closing Disclosure (which is available at least three days before closing), either by wiring funds or bringing a certified check to the closing at the title company. Once all the paperwork is signed and the lender releases funds to the seller, the buyer becomes the new homeowner!
The future looks very bright for Austin real estate investments. In fact, in December 2014, HomeVestors ranked Austin as the top market in the country for single-family home investing. Here are a few reasons why:
Current Landlords: If you would like Austin Residence to produce a Fly Tour™ HD Video to help market and lease your property, click here.
|Median Sales Price||Median Sales Price Per Square Foot|
|UT 1/1 Condos (built in 1980s)||5.9%||6.6%|
|UT 2/2 Condos (built in 1980s)||6.9%||6.3%|
|Austin 1/1 Condos (built in 1980s)||6.0%||5.7%|
|Austin 2/2 Condos (built in 1980s)||5.4%||5.5%|
|Austin Suburb Houses||4.2%||2.9%|