Purchasing Your New Home

Over 85% of all homes are sold or purchased by real estate consumers using the professional services of a REALTOR®.  Buying a home is one of the largest investments consumers make and the diligent work of representing you falls on the responsibility of your REALTOR®.  From managing the numerous inspections, timetables and appointment deadlines, and helping keep the home buyer from throwing in the towel from frustration with the Seller or just the process, your REALTOR® is there to serve you. 

A REALTOR® has a fiduciary duty to the client which is only created by an AGENCY AGREEMENT, usually it is in writing so that it is enforceable.  In Texas, this agency agreement is called the Residential Buyer/Tenant Representation Agreement, which can be reviewed using the hyperlink to a ".pdf" file. To help you understand the agency relationship, a REALTOR® should provide you with the Information About Brokerage Services Form. 

Not all Mortgage Companies are Equal

Mortgage companies often seek to identify themselves as mortgage "bankers" or mortgage "brokers".  Mortgage bankers and mortgage brokers are both licensed by the state, but there are significant differences between the two.

Mortgage bankers make mortgages directly between individuals and investors using their own underwriting and processing. Mortgage bankers have a wide choice of loan products for homebuyers at very competitive terms, including FHA, VA and conventional mortgages (both prime and sub-prime)

Mortgage brokers are "middle-men" for mortgages between individuals and mortgage banks, thus their pricing must accommodate their role.

Home Search Process

Determine desired area
Decide on New or Pre-owned home

Using a REALTOR® to buy a new home
Select your REALTOR®
Get Pre-Qualified
FIND THE PERFECT HOME (or something very close)
Make Offer or sign purchase agreement from builder
Determine calendar for deadlines (OPTION PERIOD!!!)