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Steps To Buying A Home In North Dallas – Quick Guide

buying a home in north dallas

At Team Nelson, we know the process of buying a home in North Dallas can be frustrating, to say the least. If it is your first time to buy a home, it can seem overwhelming. Your realtor, lender, and title company will coordinate many of the details, but there are still things you have to do – and it’s good to be “in the know.”

Here is a quick guide to the steps involved in buying a home in any of the many prestigious communities in the Dallas metro area.

Get pre-approved for a home loan. If you know a trusted loan officer, great. If not, ask family and friends, or even your realtor if you are working with one in the early stages.

Decide when you want to move. Are you thinking two or three months, or six months from now? If you want to move in the immediate future, it’s time to find a realtor. Otherwise, you may want to browse the many homes available online so that you can determine which neighborhoods will interest you when it comes time to buy.

Find a trusted and reputable realtor. If you will be ready to buy in just two to three months, now is the time to find a Dallas real estate agent who will work hard to find the house of your dreams, and design a plan to meet your unique goals.

Submit an offer. Once you’ve found your dream home, your realtor will help you in submitting an offer. Your agent can help you decide on a fair offer, and give you a few “secret” negotiating tips.

Execute a contract. Sounds complicated, but it’s easy. Once all parties are agreeable to the terms, you will make a payment to the seller for the option fee, and one to the title company for earnest money. Your realtor can help you out in this area as well, should you have any problems.

Have the home inspected. Home inspections involve looking for any visible signs of trouble, such as mold, wood rot, leaks, pest infestation, roof damage, foundation cracks, etc. This is why you pay the seller the option fee – it gives you an “out” should any bad news come back from the home inspectors such as needed repairs that the seller doesn’t want to pay for or credit off of the home price.

Financing contingency, a home warranty, title policy, HUD statement, and closing day are the next steps. Your lender will work on the financing contingency if you signed a third party financing addendum, which you likely did unless you had the cash to pay for your home. Next, you will be contacted by the title company who will want to know who you have chosen for your home warranty. Your realtor can help you in this area as well. The HUD statement is examined very closely by the escrow agent prior to your signing the remaining paperwork. This statement reviews credits and expenses of both you and the seller.

Now you’re ready for closing day! The day has finally arrived, and you can hardly wait to walk through the door of your new home, knowing it’s all yours. Closing generally takes just 30 minutes or so, so it isn’t a long involved process that will keep you tied up all day.

While this may sound like a lot of work and confusion, it’s really quite straightforward. At Team Nelson, our realtors will be happy to help you throughout any and all stages of the home buying process. Give us a call today, and let us help you find your dream home!

What People Are Saying

  • Team Nelson is highly professional, knowledgeable, and great to deal with. Kelly Sokora guided us through the whole process. My wife Cindy and I are very grateful to team Nelson for making selling our house painless. Thanks again for a great job.

    Hal Volkert Avatar
    Hal Volkert
    9/11/2019

    Team Nelson are there for you from start to finish. Simply the best. Honest hard working group. They have helped me twice and I plan on them helping me next time. Best experience. Ever

    Judith Gowins Avatar
    Judith Gowins
    12/11/2018

    Tricia Hoffman was amazing to work with and very helpful! You can not go wrong with her if you are looking for a house! She made purchasing my new house a very painless and pleasant experience.

    MarilynGrady Avatar
    MarilynGrady
    7/01/2015
  • First house sold in 7 hours! Already sold 2 homes with them, built 1 and bought another so a total of 4 houses. Will definitely use them in the future. They are extremely knowledgeable, able to pick up on potential issues when viewing homes, have excellent contacts for inspections, repairs, loans, and more. They work hard. Reallllly hard. All the time. And they are straight with you. No games. I highly recommend this team.

    Malika Qureshi Avatar
    Malika Qureshi
    12/11/2018

    It was a pleasure to work with the Nelson Team in the purchase of our new home! We received helpful information upfront from Bill that the home we wanted was a Relocation and that affected the price we offered. The paperwork was expedited and everyone was professional and pleasant. We felt we...

    helenskp Avatar
    helenskp
    8/20/2015

    The Your Home Free team is very professional and efficient. They helped us through the entire process. I Highly recommend them and we will back for their service in the future.

    justin patzig Avatar
    justin patzig
    7/25/2017
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