(903) 454-2824
10 Steps To Buying A Home

10 Steps To Buying A Home

#1 GET EDUCATED Take a home buyer education course to make sure you are ready to buy a home. TSAHC has a great program ar www.texasfinancialtoolbox.com

#2 HOW MUCH CAN YOU AFFORD? Create a budget with a mortgage payment that makes you comfortable.

#3 GET APPROVED Shop around for a reputable lender. Usually, your Real Estate Agent has several they could recommend.

#4 WHAT KIND OF HOME TO BUY? Make a list of features and must-have items you need and want in a home

#5 SHOP FOR A HOME Call one of our agents, set up some showings. Take your time, take notes and ask questions as you view the homes for sale.

#6 MAKE AN OFFER Work with your REALTOR and submit a signed proposal specifying the purchase price, terms, and conditions to the seller

#7 GET A HOME INSPECTION. Once you are under contract on a home hire a trusted inspector. A home inspector will examine the home’s condition and alert you to any issues that may be present in the home!

#8 COMMUNICATE WITH YOUR LENDER Send your lender your contract and get all items they request from you in a timely manner to not cause closing delays.

#9 GET HOMEOWNERS INSURANCE This will be required by your lender. Not all insurances are built the same, shop around and find one that suits your needs.

#10 CLOSE ON YOUR NEW HOME Closing day is when the seller receives the funds from your lender, signs the deed to the property, and hands you the keys at the title company!!

#11 MOVE IN AND ENJOY YOUR NEW HOME!!

Is 2021 the Year to Size-Up Your Home?

Is 2021 the Year to Size-Up Your Home?

2020 was a year for change. Many lifestyle adjustments and plenty of time at home. During that time, you may have started to think about how much your current home suits your needs, even if you thought at one point that the home you’re in could be your forever home.

Last year impacted the needs of many in a variety of ways, and it’s okay to recognize that the home in which you currently live might not fit your lifestyle now. If you’ve turned a room in your home into a makeshift office or school space, you’re trying to exercise at home, or you are just spending more time in your own four walls than you ever expected to, you may be ready to move onto something bigger.

With an inventory drop of 22% over the last year in Hunt County and home price appreciation at 7.3% year-over-year, there has never been a better time to sell. Inventory has decreased and demand has increased, which has driven prices of homes in Hunt County to an all-time high. This is great news if you are a homeowner and you’re thinking about selling. Your home equity has likely risen as prices have increased and there’s a large pool of buyers searching for the perfect home.

If you can relate to all of the above and are weighing your options when it comes to selling and finding a bigger space, let’s chat today!

What Is Earnest Money and Why Do I Need It?

What Is Earnest Money and Why Do I Need It?

If you’ve never been through the home-buying process, some of the terminologies can seem a bit foreign. One of the many phrases you might come across is earnest money.

When making an offer on a home, it is often encouraged to include earnest money with that offer. Earnest money is a payment of 1-3% of the offer price that is intended to show the seller your interest in their property. Earnest money is a deposit made to a seller that represents a buyer’s good faith to buy a home. The money gives the buyer extra time to get financing and conduct the title search, property appraisal, and inspections before closing. In many ways, earnest money can be considered a deposit on a home put up in good faith. The amount isn’t set in stone and it usually depends on the market. So how is that money used?

When you make it to closing, that earnest money will be directed towards any closing costs, down payments, or other items you would typically pay out of pocket. It is treated as a credit toward any expenses that come up in the process and is in no way a bribe for the seller. The earnest money is held by the title company and not by the seller.

There are a few situations where your earnest money will be refunded if you don’t make it to close. This usually requires a stipulation or clause to be added to your offer, and those can vary. Financing not going through, the seller not being able to close, and an unacceptable home inspection are all reasons that if you are protected in your contract, you should receive your earnest money back. If you do decide to back out of the contract for no real reason other than changing your mind, the seller may be able to keep it.

6 Steps to Take to Increase Resale Value

6 Steps to Take to Increase Resale Value

Everyone who is getting ready to sell wants to make the most money possible in the process. While you may see a great deal of value in your home, that love you’ve created doesn’t always translate to financial gain. The best way to actually increase the value of your home and therefore your potential profit is by improving and updating the things in your home that buyers are looking for.

While there may be projects that you would prefer to do or may seem easier, It’s important to focus on the renovations that will net you the highest ROI. We have compiled this list for you to reference for their ability to produce high ROI. If you are looking to boost your resale value, check out the steps

KITCHEN REMODEL
Real estate experts will always tell you that the highest ROI renovating your home can undergo is in the kitchen. People really want nice kitchens and it seems to be a major focus for a lot of homebuyers. The biggest priority when renovating your kitchen should be the layout. Have a functional space that can easily be updated is key. Once your space has ‘good bones’ you will want to find materials that have a high-quality look without a big price tag. You can make update a space and make it look great without having to use marble or granite.

BATHROOM UPDATES
Not far behind kitchens, bathrooms are the second place buyers place a great deal of value. Thankfully, bathroom updates don’t have to drain your savings. Primary bathrooms are the most important and should be your focus if you only want to update one bathroom.

FIX PLUMBING
The biggest concern of potential buyers is structural concerns. You can have a beautiful home that can turn into a disaster if structural issues aren’t addressed. Replacing old piping with a newer plastic solution is a huge selling point and can calm some of the potential fears that come with buying a home.

GET RID OF STUCCO/PANELING
Wood paneling and Stucco are common in many older homes. Not only do these things tend to be unattractive to buyers, but they also show potential buyers that you likely haven’t made other efforts to update your home. If they have to worry about what is going on with what they see, they are likely to worry about what they cannot.

REPLACE SIDING
Curb appeal plays a major role in getting people in the door of your home. It makes sense to focus on how the outside will appear to potential buyers, so having yellowing siding that used to be white is unlikely to attract buyers. For those on a budget, you can also try power washing – it can bring better results than you might expect and it barely costs anything!

WHAT TO EXPECT AFTER YOU LIST YOUR HOME

WHAT TO EXPECT AFTER YOU LIST YOUR HOME

After all of the preparation required to list your home, you are probably ready to relax and wait for offers. While most of the hard work is done, it is important to keep in mind things that you may run into during the sale process. As you begin to welcome potential buyers into your home, here are a few things to expect now that your home is listed!

1. You might feel like you live in a museum.

You may have spent a great deal of time cleaning and decluttering, but now you are going to need to maintain that cleanliness. Potential buyers are going to expect a home that was as neat as the listing photos they saw, so it is important to meet their expectations. Now that you have officially listed your home, maintenance is necessary. There may be showings where you don’t have time to do a full deep-clean, so choosing to keep your home ‘show-ready’ will help reduce any stress about the appearance of your home for a showing.

2. There will be some inconveniences.

Now that you’ve realized your home needs to be ‘show-ready’ at all times, you might be starting to think that there could be an inconvenience or two during this part of home-selling. While your real estate agent will be helpful in this process, you may need to switch around plans during the evenings or weekends when you are typically home so that your home can be shown.

3. Expect to hear critiques and criticism.

This is often the main thing that first-time home sellers struggle with. It is not always easy to hear the issues a potential buyer may have with the home you have created. While some criticism can feel insulting, it is important to remember that it is not personal. Potential buyers are not trying to hurt your feelings, they just want to picture your home as their own. Your agent can be a key part in buffering criticism. They will be able to take suggestions from potential buyers and relay it to you in a way that is helpful and constructive.

4. Home maintenance will be crucial.

While maintaining home cleanliness is important, you will also need to keep up with maintenance tasks. Your lawn will need to be mowed, your heating and cooling systems need to be operating properly, as well as any appliances that will be staying when your home sells.

5. There can be some additional expenses.

After you’ve accepted an offer, the closing process will begin. There will be inspections and final walk-throughs, and this can bring about issues that may need resolved before the sale is closed. Depending on the issue, you may need to pay out-of-pocket for repairs so that you don’t need to negotiate your sale price.

If you’re ready to sell your home and need someone by your side to guide you as you prepare to list, give us a call today!