If you are a first time home buyer or have not bought a home in a while, you may be wondering what the steps to buying a home are. Every area has its own customs so finding relevant information local to the Bryan College Station area can prove to be a challenge. That's why we've created the following steps to ensure your home buying process goes smoothly.
The Home Search
- Do some research and talk to friends and family. Listen to their advice, but remember they only know about their own experiences in their area, so understand it may not be the same for you or in Bryan College Station!
- Set up a no-obligation consultation with our one of our Buyer Specialists. We take a different approach. Rather than "jumping right in" and showing you homes, we sit down and meet about your needs, desires, and dreams. We ask a lot of questions about your situation and help you decide if now is a good time to buy or if you should rent. We really want to put you in a good situation, regardless of whether it gets a home sold or not! Please fill out our Dream Home Finder form to get started or just call us at 979-846-1995.
- Get pre-qualified with a local lender. We work closely with several ethical local lenders who can get the job done on time, with minimal closing costs, and at a great interest rate. Of course, you can use any lender you desire. Just ask for a pre-qulification letter so we will be prepared to make an offer when you are ready.
- Time to meet with your Buyer Specialist again! This time, let's set up a time to see some homes. We usually find that it is best to schedule no more than 6-7 homes at a time unless you are making long trips to town or are in a time crunch. We'll help you determine which neighborhoods are most conducive to your lifestyle and take into account all the things that are most important to you.
- When you've found the one that fits you just right, the next phase is to make an offer. We'll sit down and go through all the terms of the contract as well as do some research on sales in the neighborhood to ensure you are getting a fair deal.
- Negotiate the offer. Once we send the offer to the listing agent, we will assist you in negotiating the contract and getting the terms that are best for you. We understand you want the best price, but there are many factors to consider when negotiating as well.
- Sign the final agreement. Once we have negotiated and have an agreement, you sign the contract and write an Earnest Money check to the title company, which is usually about 1% of the sales price rounded to the nearest $500 or $1,000. You will also need to write a check payable to the Seller for the Option Fee, which gives you the unrestricted right to terminate the contract for the first 10 days (negotiable). This fee is typicaly about $100 in College Station & Bryan, TX but can vary depending on things like the length of the option period and the price of the property.
During the Option Period (that first 10 days of the contract) we need to get your inspections done. We have 10 days to perform inspections and negotiate an Amendment if needed.
- Set up the inspections. Most people do a general home inspection, a WDI (Wood Destroying Insect Inspection, also referred to as a termite inspection), and an HVAC inspection. For rural properties you may also want a septic inspection and if there is a water well a water quality test may be appropriate. Homes with a pool may need a separate inspection as well.
- Show up to the inspections. Most inspectors will bill their fee to the title company so you won't need to bring your checkbook. You will typically be there and let the inspectors do their job and be sure to ask them any questions. Now is the time to get all of them answered!
- Write an Amendment if needed. If there are items you are not happy with, we will write an Amendment to the contract and send it to the Listing Agent. Then we negotiate and sign off on the final Amendment.
After the inspections, we are cruising to the closing!
- Communicate well with your lender. You will need to turn in all final documantation to them if not done already and be sure your financing is solid.
- Your lender will order an appraisal.
- Set up a time for closing. We or the title company will set up a closing time for all parties to come to the title company on closing day to sign all the final paperwork.
- Be sure to be packing. Once the closing is done and your lender funds the loan (usually the same or next day) the house is yours and you are free to move in!
That's it! If you are ready to get started buying a home in Bryan or College Station, please call us at 979-846-1995, fill out the Dream Home Finder form, or start searching with one of these links: