From locating potential properties, to placing an offer and closing the deal, the team at Moreland Properties is here to assist you all along the way. The following information helps to explain the different steps in the home buying process.
An OFFER is a written proposal to begin negotiations on the purchase of a home. Your buyer’s agent will provide you with options in writing the offer. Many times price is not the main concern in the transaction.
The response from the seller becomes a COUNTER OFFER. Counter offers can often be negotiated many times. The offer becomes a CONTRACT when both parties agree to all the terms and conditions as modified during the negotiations and when signed by both the buyer and the seller. At this time the earnest money check is given to the title company with the contract and the home is now under contract.
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Once the property is under contract it is time for the INSPECTIONS. You will hire a licensed inspector to check the structural and mechanical condition of the home. A written report will be given to you and to the seller.
From the inspection report, it will be determined what REPAIRS will need to be made. The repair allowance in the contract will govern the amount that can be spent on repairs by the seller. Sometimes a buyer wishes to negotiate a larger repair amount. Your buyer’s agent will be able to guide you through this process.
The buyer’s mortgage company will order an APPRAISAL of the property. This is a requirement for the lender in order to be certain that the property is worth the agreed upon sales price. Quite often a survey is also part of the lender’s requirements.
Understanding your relationship with the Broker is often confusing. It is important, however, that you fully understand this relationship before you sign any Buyers Representation Agreement. Moreland Properties is very serious about the relationship we have with our clients. Please review the information about Brokerage Services, written by the Texas Real Estate Commission, provided by your agent.
This document is required by Texas law and will be made accessible to potential buyers. It is essential for a seller to inform a buyer of any potential defects. This document has been designed to protect both the buyer and seller. Your Moreland agent can help explain any concerns you may have.
ACTRIS is a computerized service to which the members of the Austin Board of Realtors belong. This service enables each member to enter the data concerning each listing (property) into the computer database. All members have access to this data through their computers. Within minutes of an agent loading the information onto the computer, fellow agents in the city can call and make appointments to view the property or to show it to prospective buyers. It is extremely important that this information be accurate. As the status of the listing changes, such as contract pending or sold, the information is updated.
If appropriate, your home may have an electronic key box attached to it for ease of showing. In the computer printout are specific instructions as to how your home is to be shown. Appointments are made with the owner or realtor and the showing of your home begins. For your protection and for security reasons, we advise sellers to always have an agent use the lockbox when showing their home. This will ensure that every agent entering your home is a registered member of ACTRIS and your agent has an accurate list of who has shown your property.
At Moreland Properties, we don’t just sell properties; we build lasting relationships, support our agents, and contribute positively to the communities we serve. Join us in your real estate journey, where professionalism, integrity, and dedication converge to create exceptional experiences.
