Buying a Home in Granbury, TX
Buying a home is much more than simply finding a property you like online and deciding to make an offer. There are several steps in between and we want to make sure that all of our homebuyers are well informed, educated, and prepared to buy a property. Here's a quick snapshot of how to buy a home in Granbury Texas or anywhere around the areas we service.
Get preapproved for a home loan.
Before looking at any homes it's important to understand how much of a monthly mortgage payment your income can support. It's imperative to speak with the lender ahead of time unless you're paying all cash, to determine the proper monthly mortgage payment and then convert that into a home price. This will give you the price range in which to look.
Enlist the help of the buyer's agent.
Any homebuyer can go to the listing agent of the property and facilitate the transaction, but the buyer's interests, needs, and confidentiality may not be kept a top priority. The first client to enlist the help of that agent was the seller and the primary goal is to sell that property. Having your own representation throughout the process means that your interests, needs, and finances will be the utmost priority and that agent will negotiate on your behalf, not the behalf of any particular seller. A cost Apsley nothing to use a real estate agent so it's imperative that you have your own agent when buying property.
Make a solid offer.
Your buyer's agent will help write up a solid offer that will appeal to the seller. In cases of multiple offers or a bidding war, there are strategies that experienced agents have to negotiate on your behalf and get the home you really want.
Fees associated with buying a property.
Earnest money deposit: this is typically $500 to 10% of the purchase of the property and will get credited to the buyer at closing as a down payment. This is a good faith estimate to prove to the seller you are serious about buying the property and are willing to put some money down to hold the property during the sale.
Home inspection cost: this is another out-of-pocket cost for the buyer. You will need a home inspection, which typically ranges from $300-$900 based on the size of the home and the type of inspection. This is typically paid directly to the inspector.
Closing costs: depending on the type of loan and the sale price, closing costs can vary greatly from $2000 to over $10,000. Mortgage officers tend to cost a little bit more than a bank but can provide better loans and a lower monthly fee in the long run. These are details you'll need to negotiate and work out with your lender.
Down payment: depending on the type of loan you choose, your down payment can be anywhere from 1% to 20% or more. Discuss with your lender the best program and loan for your options and prepare closing costs in advance.
There's a lot to the real estate buying process but we want you to be informed and prepared. Contact one of our agents below to get in touch with the buyer's agent for the neighborhood you're looking to buy in. We specialize in lakefront homes throughout Granbury, waterfront or riverfront properties, estate homes, and single-family houses throughout Granbury and Hooded County.