Buying a House in Houston

Questions to Ask When Buying a House In Houston

It is important that homebuyers first determine how much they can afford to pay for a house. It is critical to determine how much house a buyer can afford. Choosing realtors who will work on the buyer’s behalf is critical. Before making an offer on a specific house, homebuyers should ask specific questions about the property such as the age of the roof, the taxes on the property, and whether the house has roof leaks. If the roof has leaked, you will need to find a reliable roofing contractor in Houston to inspect the roof and give an estimate of any repairs needed.  

Determine Affordability

Income is a key determiner of how much house you can get. Individuals can often obtain this information by using mortgage calculators that appear on various websites. These mortgage calculators are also handy for determinations of how much the payment will be, based on a specific interest rate. Consumers who are unsure about their credit rating should consider checking this out as well since mortgage eligibility will consider credit score.

A Realtor Can Be Helpful

Once homebuyers have the number of the price they can pay, the next step is to start looking for a house in the place and a price range that is desired. Use of a realtor is often part of this process. Homebuyers should always ask how long their contract with a realtor is, and although many such contracts go for a period of six months, shorter times are preferable because realtors tend to be most available at the beginning and the end of the contract. Homebuyers should also look into using a buyer’s realtor, if available. Once a first-time homebuyer finds a home that meets both the requirements and the price so that it is possible to make an offer, the homebuyer must not forget to clarify more specific issues before making an offer.

Specific Issues Home Purchasers Should Address:

  • The taxes on the home,
  • The age of the roof
  • Any roof leaks
  • Previous water damage
  • Mold Inspection
  • Basement flooding
  • Current termite contract

If You Do not Ask

While people lie, more often in real estate transactions, the lies are those of omission—if a buyer does not ask, a seller does not tell. Remember many areas of Houston are susceptible to flooding. Ask about the availability and cost of Flood Insurance. If the Houston home purchaser is satisfied that he or she has chosen an affordable home in a decent area in decent condition, then it is time to make an offer on the house.

Houston Flooding 2017

Get an Engineer’s Report Before Signing Contract

Once a new homebuyer’s verbal offer is seen as acceptable, the new homebuyer should obtain an engineer’s report on the home before going to contract. The engineer’s report will detail needed repairs or structural issues in the home. If there are expensive repairs required, homebuyers have to choose to back out of the deal or try to negotiate a lower price for the home based on the needed repairs. You may arrange to have the seller put money in escrow for the repairs and release the funds to the buyer after making the repairs.