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Home Buyer Information Category

Does the seller have to disclose prior inspections on the home?

Per page 4 of the Texas Association of Realtors Seller's Disclosure Notice, Spring Texas home sellers are required to disclose if within the last 4 years they received any written inspections on their home. Spring Texas home sellers do not have to disclose if prior inspections were performed on the home.  They only have to disclose inspections that occurred within the last 4 years, were written, and received. A previous interested buyer could have performed inspections on the house. But unless the previous buyers gave a copy...Continue Reading!

Texas responds to Mortgage robo-signing

The Texas Attorney General has sent a demand letter to 30 mortgage-loan servicers doing business in Texas requesting them to immediately "suspend all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties” until specific steps have been taken to rectify possible past errors in mortgage documents. The demand letter describes the possible future legal action the Texas Attorney General may take against mortgage-loan servicers if they do not take specific steps. How...Continue Reading!

Why do 1-story homes cost more than 2-story homes?

If the only difference between two houses is one is a 1-story and the other is a 2-story, then why does the 1-story house cost more per square foot?  The reason a 1-story house in Spring Texas costs more per square foot than a 2-story is because it costs more to build the 1-story house. Two of the most costly parts of a house are its roof and its foundation.  A 2-story home with the same square footage as a 1-story...Continue Reading!

To get a better deal, find out who the seller is

Every Spring Texas home seller is different and they all have different reasons / motivations for selling. You may not be able to find out the motivation for each seller. But if you know which category the seller belongs to, you will be able to get a better deal on your home purchase. Every home seller can be classified into one of the following categories:  builder, individual, relocation company and individual seller, relocation company, bank and individual seller, and bank.  A builder's motivation for...Continue Reading!

Should you be concerned if the house you have under contract is having an Open House?

The buyers and sellers Rick Ratchford and I represent provide us with a constant supply of real estate topics to write about.  Recently one of Rick's clients who is a first-time home buyer asked "Should I be concerned that the house we have under contract is having an Open House on Sunday?".  It's a good question and from a buyer's perspective I can understand why you may be concerned.  You have searched and searched for Spring Texas houses for sale and you have...Continue Reading!

What does contingent mean in buying a home?

Contingent means any term in your Spring Texas real estate contract that must be met or satisfied before the purchase of your Spring Texas home can be completed. Typical contingencies include financing and the sale of the buyer's other home. The home must meet your lender's underwriting requirements of condition and appraised value. And as a borrower, you must be approved by the lender for the financing. Sellers want to feel comfortable that the sale of their home is going to go through.  The less contingencies your offer contains the more...Continue Reading!

Why do most closings occur at the end of the month?

The end of the month is the most popular time for closings to occur on Spring Texas homes.  End of month closings are popular for two reasons.  The first and primary reason is it reduces the amount of money buyers need to bring to the table in order to close. When you purchase a Spring Texas home there are numerous closing costs and prepaids associated with your real estate transaction. One of the these costs is interest on the loan.  Your lender charges you interest on the loan from...Continue Reading!

How thinking it over may cost you money or worse … the house

You have been looking online at Spring Texas homes for sale for months.  You narrowed down the possibilities and battled the heat and viewed your top choices.  Now, you believe you have found "the one".  The home that stands out from all the rest of the homes. The home you can visualize living in and your family growing up in. But instead of heading directly to your real estate agent's office, you decide you want to think it over.  Understandable. It's a big purchase. Besides the Spring Texas real estate...Continue Reading!

Do you have to attend the closing?

In Spring Texas the closing on a real estate transaction is held at a title company.  Since the closing is scheduled in advance, the majority of buyers and sellers are able to arrange their schedules and do attend the closing on their house. Sometimes a buyer's or seller's schedule does not permit them to physcially attend the closing.  In these circumstances, the closing can still occur on the scheduled closing date by the title company doing an advance "mail-out" or through the use of...Continue Reading!

Is your Real Estate Agent pushy?

Here's a fun YouTube video on pushy real estate agents.  Rick and I are not pushy real estate agents. As buyers agents, we will show you any house on the Spring Texas real estate market you would like to view.  We work hard to help you find and purchase the right house for your lifestyle and your finances. A thank you goes out to Missy Caulk, a Ann Arbor Realtor. I discovered the YouTube video on her website of Read also: Top 5 benefits of having a Spring...Continue Reading!