Are you a first time home buyer, or as they are now known as a “property virgin?” Thanks to the newest show on HGTV. Property Virgins you can get helpful tips and advice on purchasing your first home as well as “virtually”experience many of the ups and downs that other first time home buyers will encounter. Property Virgins shows you buying a home for the first time, but in this series of articles by the Houston Family Examiner I’ll be giving you advice straight from Houston area Realtors on home buying, selling, financing, improvements and other important topics.
I remember purchasing my first home. I knew nothing, but we were lucky since my uncle was a Realtor. He made sure we understood all the ins and out of searching for our families first home as well as patiently explain to me all the terms used in the hundreds of real estate documents that we would encounter.
I spoke with Dale Ross, of the Homeselling Team – Keller Williams Signature Realty looking for helpful property virgin advice. Dale has 29 years experience as a Realtor been named a Top Agent in Houston, Top 1% of All Realtors in the U.S. since 1993 and is a Certified Residential Specialist. In addition to his national and state of Texas recognition he is also named among the Top 20 Re/Max Teams in Houston and Texas.
Houston Family Examiner: Dale, I know that when we started looking for a home in the Houston area I was so confused. It seemed that so much had changed since I last bought a home. It also seemed that Texas had some different laws and customs. A small example was in my previous home the appliances like the washer/dryer and refrigerator were left in the home during the sale, but here these appliances appeared to move with the seller.
Dale Ross, Keller Williams Signature Realty: Yes, Lisa that’s true. The laws and procedures regarding buying and selling a home are constantly changing. And, Texas does have some unique laws and procedures when compared to other states. That’s why it is so important to have a Realtor who stays up to date on the changes, as well as has some knowledge of what other states do when buying and selling a home.
Houston Family Examiner: So, what is the first step, once you have made the decision that you want to purchase one?
Dale Ross, Keller Williams Signature Realty: Well, unless you are paying cash, the first step I recommend that a home buyer should take is to obtain their financing. With today’s market, a seller isn’t likely to few a buyer, especially a first time home buyer . . .ahh property virgin, seriously without an approved mortgage.
Houston Family Examiner: Are there other advantages to obtaining your financing upfront?
Dale Ross, Keller Williams Signature Realty: Actually there are several. By finding out the amount of mortgage you are approved for you know exactly how much money you can afford to spend on your new home. This can help you not only in shopping for your new home, but with your expectations as well. Many sellers view someone with approved financing as someone who is almost as good as a cash buyer. It can also help you when your reach the price negotiation stage of home buying.
Houston Family Examiner: I had no idea how to go about getting information on financing for our home. We moved here from out of state so it’s not like we even knew which banks or companies to approach. Our Realtor was really helpful. Is that how it works for first time home buyers too?
Dale Ross, Keller Williams Signature Realty: Most of the time your agent can help you locate a lender. Our team has a reliable, well priced, lender we can refer you to, but encourage buyers to feel free to choose any mortgage company they want.
Be sure to stay tuned to your Houston version of HGTV’s Property Virgins, to get more helpful advice, tips and information from Houston area Realtors. Next, deciding on a neighborhood for your new home.