512.953.7244 team@moatsteam.com

Purchasing a property for the first time may be somewhat stressful. The Austin first time buyer advice in this blog will clarify certain things. Properties are a big financial investment and buyers should become well educated.

Prior to Starting a Home Search

Request a Pre-approval Letter

Contact a local lender and obtain a pre-approval. The programs and qualification criteria may differ from company to company. Evaluate the options and fees to identify the best option. This give you a sense of the potential up-front and recurring expenses of home ownership. This may also provide an estimation of what price range you should consider.

Find a Real Estate Professional

Find a real estate professional to assist you through the property purchase process. Choose someone that understands your needs. Experienced Realtors can help identify properties, submit offers, and ensure a smooth transaction. This can be critical first time buyers.

Steps in the Real Estate Process

Seeing Real Estate

Only view real estate within your price range. This prevents the heartache of wanting a home that is not feasible for you to purchase. Property viewings are time consuming, so staying within your range will also save valuable time.

Contracts

Real estate professionals may provide advice on contracts and negotiating them, but they can not practice law. If you need a legal opinion, look into hiring a local real estate lawyer to explain terminology and request any desired changes to them. It is important that you completely understand the conditions and consequences of any contract before signing them.

Real Estate Inspections

Do not rely on inspections to address price or alter contract terms as they may not identify any problems at all. Also avoid negotiating previously disclosed problems. Such strategies often fail and result in wasted inspection costs. In cases where problems are uncovered, sellers may agree to address issues, give price concessions, or do nothing at all. Keeping a civil relationship with sellers will make discussions more successful.

Final Walk-Thru

Shortly before the closing, you will have the chance to walk thru the home one final time. Try and complete this after the sellers have moved out. If any problems arise during this visit, you can negotiate them prior to completing the closing.

Real Estate Closings

Be sure to bring legal ID to the closing. Bring certified funds for any amounts due. Also bring your checkbook in case there are any final changes. Once the closing paperwork is submitted to the registry, the property is yours!

Additional Austin First Time Buyer Advice

The home real estate process will be easier with some advanced understanding. For details beyond what is provided in this Austin first time buyer advice, contact Shaina Moats at Keller Williams Realty by calling 512-963-7157 or by emailing shaina@moatsteam.com.