When you buy a house, you know the price of the house and the percentage you plan to put down, but what about additional costs? How much money will you actually have to bring to the closing table? The answer can vary depending on many factors. For example, sometimes a seller will pay for a portion or all of a buyer’s closing costs. Regardless of who covers the expense, it’s important to know what’s being paid. 

Real estate commissions have received a lot of attention recently because of the recent NAR settlement and the lawsuits leading up to that settlement. Even so, I find that many average Texans don’t know the basics of how Realtor compensation works. Here’s a guide by Texas Realtors.

Private mortgage insurance is required by most lenders if you put less than 20% down on your home. Many people have an aversion to this extra cost, but you shouldn’t be scared of PMI!

A CMA compares a subject property to similar homes currently on the market, under contract, or recently sold — these properties are known as comps. Whether buying or selling, you will almost certainly see a Comparative Market Analysis (CMA) at some point during the process.

Is this neighborhood good? Safe? Diverse? These might seem like reasonable questions to ask your real estate agent, but we agents have to answer cautiously in order to avoid “steering” and to comply with Fair Housing Rules.

Buyers often have questions about earnest money and when it is refundable and when it is not. Read this primer to understand more!

How to prepare before you apply for a mortgage.

Every state has its own regulations and norms. An option period is Texas’ way of providing a home buyer time for due diligence. In exchange for that time, the buyer pays the seller an option fee. Both the option period length and the option fee amount are negotiable points in a real estate contract.

Most people buy homes based on what they can afford to pay per month. So what does a $300k home cost at a 5% interest rate? What about at a 7.5% interest rate. Take a look at this chart compiled by Amy Oehler of Big Life Home Group.

Property taxes in Texas are a sore subject for many residents! As property values have skyrocketed so too have property taxes, which are based on yearly county appraisals of value. Find out more about how Texas property taxes factor into home ownership.