Finding your new home starts with an initial consultation with your Realtor. During this meeting she will be discovering what you are looking for in your new home. What are 5 things that a house MUST and and 5 things it MUST NOT have in order for you to purchase it? Where do you want to live? What is most important? Schools? Yard? Pool or no pool? Make sure your Realtor knows all of this information.
Your Realtor will set you up on an auto-feed of listings that match your criteria. Keep in mind these may not be able to capture “open concept” or “large island” type of criteria. So, it may be up to you to categorize the listings so your Realtor knows which properties you are drawn to over others.
You and your Realtor will select which homes to look view in person. The Realtor will create a tour and schedule all of the homes with the seller and their agent. This can take some logistical finesse so understand if you are unable to see a particular property.
Spend as much time as you need in each home. Look in closets, flush toilets, listen for background noises…these are all important details. If you drive up to a property or step inside and you don’t like it for ANY reason don’t feel obligated to look at the whole house.
“If we aren’t moving in let’s move on. “Kelli, Home Buying client
Make an offer
Making an offer is like putting out your hand to shake. With your Realtor’s advice you come up with an offer price for the property you have found. Things that may influence what you offer can be days on market, condition of the property, and multiple offers.
You and your Realtor will discuss the terms of the offer you want to present. This is your decision with your Realtor’s council. fill in the offer contract and you will approve then sign. In the state of Texas you can have the offer contract reviewed by your attorney at any time though it is not required for them to sign off. The offer will then be sent to the listing agent to present to the seller.
1 of 4 Things Will Generally Happen…
- They will accept as written (rare)
- They will counter (most often)
- They will tell you to improve your offer (sometimes)
- They will not respond (not that often)
When any of the above occurs your Realtor will discuss all of your options with you.
The majority of the time the seller will “counter” meaning they will want to make a change. It could be price, seller contributions, closing date, or who buys a new survey.
A real estate counteroffer is generated by a home seller after a buyer has submitted an offer to purchase and the offer includes terms that aren’t agreeable. Typically, a counteroffer states that the seller has accepted the buyer’s offer subject to one or more changes.
Keep in mind you can keep countering back and forth until both sides agree. Try not to let this time get to you; remember the seller is looking for the best deal for them while you are looking for the best deal for you.
Once an agreement is found the contract is executed. If an agreement cannot be met then you go back on the hunt for your dream home.
- Buyers Can Kill a Deal
- Should I Sell My House in 2021?
- Path to Home Ownership
- Rent vs. Buy: How to Decide What’s Best for You
- Two Important Impacts of Home Equity