Purchase Offer - Finding the home of your choice is followed by writing a Contract (offer) to purchase the property. Your agent will be of great assistance in developing the contract.

Financing - If you are requiring financing, pre-qualifying with a lender is a must and can show the seller that you are capable of purchasing the home.

Earnest Money Deposit - Earnest money is usually 1% of the purchase price and shows the seller that you are a serious buyer. The money is usually deposited in the Title Company.s trust account. If you do not qualify for financing the earnest money will be returned to you.

Seller's Options and Agreement - The seller may accept, reject, or make a counter offer to your first offer. The contract is not complete until all items have been completely agreed to and signed by all parties.

Inspections - It is your responsibility to arrange for the inspections. Your sales agent can provide you with a list of home inspectors that are licensed by the State of Texas, certified to do home inspections. The home inspector will check all structural, mechanical and electrical items of the home including the natural gas lines. It is a good idea for the buyer to be present so the inspector can explain any problems that are found.

Financing Application - Your agent can arrange for your application with the lender. You need to pay for the credit report and appraisal at the application. The lender must verify all the information that you have provided on the application. Home buyers of all ages often receive financial help from relatives. The mortgage lender will require that the donor execute a gift letter which states that the money is in fact a gift and that repayment is not expected.

Property Insurance - It is the buyers responsibility to get insurance setup for the property, and should be done as soon as soon as possible.

Closing - In Texas, the closing usually takes place at the title company. Generally, the seller selects what title company he wants to use at the time the property is placed on the market. The title company is responsible for doing the title search, providing you with a title commitment prior to closing, issuing the title policy and acting as the closing agent/escrow agent. The title company prepares an itemized statement accounting for all the monies. The buyer will need to bring a certified check to closing for their costs. The title company records the deed and other documents at the Courthouse. Seller conveys title to buyer.

Commission - You may be interested to know that your sales associate is paid by commission only and receives no other compensation until your sale closes out. The commission is shared between the agents and real estate companies involved. The seller usually pays the agents and companies at no cost to you.

When buying a home, there are several things to consider and having an inspector, either a state licensed real estate inspector or a registered professional engineer, examine your future home is one of them. Inspections allow home buyers to receive an objective opinion that they can use to assist them in their purchase. It is the buyers' responsibility to ascertain the condition of the property. Therefore, it is also the buyers' responsibility to order and, normally, to pay for the inspections he wants completed on the property. The buyer is encouraged to be present during the inspection. This allows the inspector to explain his procedures and what the home buyer can expect from the inspection.

A typical inspection will include checking all visible major elements of the home including structural, mechanical and electrical systems. This would include the roof, foundation, walls, ceilings, floors, appliances, heating/air, plumbing, gas line, fireplace, etc. This should not include items that would be considered cosmetic. The inspector's report will include all the items that have been inspected and which are not functioning or are in need of repair. The inspection report is not a warranty on any of the items inspected nor does it guarantee compliance with applicable building, zoning or electrical codes or insurance company requirements. It's sole purpose is to make the buyer aware of the overall condition of the property and, especially, to draw attention to any deficiencies or defects. The inspector will not include an inspection for termites or other wood-destroying organisms. A licensed pest control specialist will have to be hired to conduct this inspection.