In most cases, the seller pays the commission for both agents, meaning professional representation often costs the buyer nothing out of pocket. 3. The "Option Period" & Inspections
Your lender will require an appraisal to ensure the home is worth the loan amount. If the appraisal comes in low, you may need to negotiate the price or cover the "appraisal gap" in cash. home buying 101 texas
You pay a small fee (e.g., $100–$500) for the right to terminate the contract for any reason within a set window (usually 7–10 days). In most cases, the seller pays the commission
Before looking at houses, you need to know what you can afford. Texas has no state income tax, but it does have some of the highest property tax rates in the country. If the appraisal comes in low, you may
Get a pre-approval letter from a lender. This shows sellers you are a serious buyer in competitive markets like San Antonio or Fort Worth.
The Texas Department of Housing and Community Affairs provides "My First Texas Home" loans with competitive interest rates. 5. Appraisal and Closing
In Texas, title companies handle the closing process. They ensure the title is clear of liens and coordinate the signing of all legal documents.