When buying a Houston home…

Firstly, start by speaking to a Mortgage/Bank professional. Jim has worked with several lenders so call today for references. It helps knowing the Mortgage Broker especially at closing time when they can make life miserable. Your Bank or Mortgage lender will determine how much home you can or want to afford.

Call 713-443-5911 for Mortgage lender options. Remember a Pre-qualification letter from your lender or proof of funds is required when writing a contract. It verifies you are ready and willing to buy their home.

Jim can help you determine the best areas based on your personal requirements (commute, finances, schools, flooding, etc.).

We will help you determine area, neighborhood(s), the size of home, lot size, number of and your desired amenities within the home such as a pool as well as the community amenities. Then we will send you available homes immediately via email or text with links with pictures, maps, taxes, etc..

Likewise, we recommend our Daily Alert Email. You will receive an email with available homes on a daily, weekly, or once a month basis. You simply click on the link to view the homes. When you find a home(s) you like you would email, text or call so I can setup viewings that suite your needs.

Simply email [email protected], text or call 713-443-5911, and we will schedule the viewings. When scheduling to view homes we will need advanced notice. Most sellers require a 1 hour notice before approving a showing of the home but some require 1 day advanced notice. We will bring the important documents to the showing as well as our competitive analysis for that home so you do not have an issue with the appraisal of your new home.

Furthermore, Team Regan Realty also has an APP that allows you to see homes on your phone like a Realtor including homes that have sold, are pending, and of course the homes that are currently for sale. I like the HOMES NEAR ME feature which allows me to drive around and getting pertinent information on the homes.

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Once you determine your asking price we will docusign (e-signature) the required documents for your signature. Once the offer has been accepted, you will write 2 checks 

(1) Escrow Check 1% of your offer

(2) Option Check $ 100 which gives you a 7-10 Days “Option Period” to inspect the home.

These checks will be cashed, therefore you want to make sure the appropriate funds are in your Bank. Next is setting up an inspection of the home which should occur in the beginning of the Option Period so you have time to get quotes if there are issues with the home.

During the Option period you would hire an inspector(s) for the home, pool, and possibly termites which cost between $400-$600. Then the inspection company will email both of us their inspection report for your home with pictures and details of the condition of the home and issues of concern. Following this, we will review the inspection report together and determine which items you wish to be repaired and/or ask for money back at closing. Lastly, we would negotiate with the Sellers/Sellers Agent, and amend the contract if needed.

We work with you and your lender to insure a smooth transaction and help you get a competitive rate. Also, we work together with the Title Company to insure they have all documents (HOA fees, Home Warranty Survey of your home, etc. ). Finally, a few days before closing the Title Company generates a document called a HUD which has the credits and debits for both the seller and buyer including how much you need to bring to closing.

You close on your home at a Title Company usually between 30 and 45 days of your contract date. In conclusion, you take possession of the home (receive keys) that day.

Escrow Fee: 1% of Sales price. This is credited toward your down payment

Option Fee: $100 – $200
You have the unrestricted right to terminate your contract within the option period (typically 10 days)

Home Inspection: $ 400 – $ 600
Termite Inspection: $ 75 – $ 125

Bank Required Appraisal $ 350 – $450

Survey: $ 400 if not provided by Seller along with T– 47 document