Allen Brothers Houston Real Estate

Real estate transactions are complicated. A Texas REALTOR® will help you with the following steps and much more. In 1986 Allen Brothers Realtors pioneered Buyer Agency.
Decide What You Want
Before you start looking, make a list of what you want and assign each item a priority. Some areas to consider are the location,type of home, and age of the home.
Know What You Can Afford
• Most loans require a down payment. The amount varies(3%+), but 20% of the purchase price is typical. If you’re a first-time buyer or fall below certain income thresholds, you may qualify for affordable-housing programs. Generally, a higher down payment means better loan terms and a lower interest expense on the mortgage.
• Qualifying for a loan: A lender will determine how much he thinks you can afford based on your income, employment history, education, assets (e.g., bank account balances, other property, insurance policies, pension funds), and debt. Check your credit report before the lender does to clear up any problems.
• Your comfort level: You don’t have to spend $200,000 on a home just because the lender says you can afford a $200,000 home. Do some math and determine what you’re comfortable spending.
Make an Offer
You’ve figured out your home-search criteria and what you can afford. Now find a house and make an offer. Your REALTOR® is an invaluable part of this process. He or she will help you prepare a contract, negotiate, juggle inspections and option periods, and more.
Secure Financing Unless you’re paying cash for the home, you’ll need a loan. Keep in mind the true price of financing goes beyond the interest rate alone. Consider items such as points, total lender fees, term of the loan, and penalties for early payment. The lender will likely require an appraisal to verify that the home is worth the cost of the loan as well as a physical survey. Repairs may be required. Insurance must be purchased. All these conditions and others must be satisfied before a transaction can close.
Close the Deal
After weeks or even months of research and decision-making, you close the transaction, usually at the title company’s office. The title agent ask you to sign many, many documents and will explain each one. You’ll present a cashier’s check to the seller, sign another document that itemizes closing costs (the lender will have given you an estimate in advance), and pay your share of the closing costs. In return, you will receive a deed, transferring ownership rights to you.
Posted in:Home Purchase and tagged: Home Buyers
Posted by AllenBrothers Realtors on March 20th, 2019 4:28 PM
Why use a Buyer Representation Agreement?

  • Buyers may drive around on their own, and call the agents listed on the for sale sign. When they do so, they might not realize that the listing agents are solely representing the  Seller, and cannot also represent the Buyers. 
  • Buyers may walk into a builder's model home or one under construction, and don’t realize that the sales person is actually working for and representing the builder. The listing agent has a fiduciary duty to the builder, and will be acting in the best interest of the Seller. So, the Buyer would need a Buyer’s  Agent in order to have representation in a real estate transaction.
REALTORS® should use written agreements when possible, according to the Code of Ethics, and the Residential Buyer/Tenant Representation Agreement (1501) available only to Texas REALTORS® .


















 

Posted in:Buyer Reprensentation and tagged: Home Buyers
Posted by AllenBrothers Realtors on May 6th, 2018 1:40 PM
HEALTH AND HAPPINESS Homeowners generally have fewer health problems and report greater happiness than renters—even when the homeowners and renters have the same incomes and education levels.

KIDS’ WELL-BEING  Homeownership may help parents engage in positive parenting behavior with more opportunities for school involvement or participation in neighborhood activities. And residential stability has a positive effect on reading and math performance of children between the ages of three and 12.
 
COMMUNITY INVOLVEMENT Homeowners get more engaged in organizations that serve their community— like schools—regardless of whether they live in high-value or low-value homes. Homeowners also form more relationships with neighbors they can count on for support and friendship. And homeowners are more politically and civically active.
 
CRIME PREVENTION Neighborhoods with more homeowners have less property and personal crimes than neighborhoods with more renters, even when comparing areas with similar socioeconomic characteristics. Excerpt from March 2018 Texas Realtor.
Posted in:Ownership Benefits and tagged: Home Buyers
Posted by AllenBrothers Realtors on May 3rd, 2018 3:09 PM

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