HOME BUYING ROADMAP

1. DEFINE YOUR NEEDS
• Make a list of home features desired
• Make a list of home features required
• Combine and prioritize your two lists
• Establish a time frame

2. GET ORGANIZED
• Gather documents - financial statements, bank accounts, investments, credit card statements, auto loans, recent pay stubs and 2 years' income tax returns.
• Check your credit rating, preferably at least 6 months before you plan to buy a home, so that you have time to correct any errors. As of June 2005, Texas residents are entitled to a free annual credit report from each of the three major reporting agencies (Equifax, Experian, & Trans Union). The ONLY place to get your free credit report is at http://www.annualcreditreport.com. Although your credit report is free, you'll pay a small fee if you want to retrieve your credit score, the numeric score used by lenders to determine your interest rate.

3. GET PRE-APPROVED BY LENDER
• Tells you how much house you can afford
• When you find a property to buy, your offer will be better positioned than someone's without pre-approval.
• Your lender may need the following information: Job & career status, Income, monthly debt payments, cash available, total assets and debts.
• My recommended lender is Rick Dougherty with TriCoast Mortgage. (512.261.3877)

4. FIND AN AGENT
• Entering into a written agreement with a buyer's agent, means the agent must place your interests first and disclose any material information known to the agent.
• Buyer's agents are free! Buyer's agent's commissions are paid by the seller at closing.
• Call (512.970.4489) or email me at Diana@dianathomasrealtor.com, so we can discuss how I will make your Austin home purchase a professional, efficient and pleasant experience.

5. SHOP FOR A HOME
• Become familiar with the neighborhoods and school districts you are considering.
• Home Search - Search for your home here on my site for free! You have full access to the entire Austin MLS database, with updates every 24 hours, so visit often. There's no obligation ! Even more convenient is my Free Email Update Program that allows you to receive automatic emails when new homes are added that meet your search criteria that have been saved in your Property Organizer program here on this site.
• Tour homes with your agent

6. MAKE AN OFFER
• Your agent will help you determine the offer price by reviewing recent sales of homes that are similar in size, quality, conveniences and amenities.
• Your agent submits a written contract
• Seller rejects your contract, accepts your contract as is, or negotiations begin to reach a mutual agreement.

7. ESCROW, APPRAISALS, INSPECTIONS
• Upon contract acceptance, your contract and down payment are held in escrow at a title company. If you don't already have a preferred title company, I refer my clients to Jan James of Independence Title. (512.263.1703).
• As your agent, I will help coordinate service providers performing inspections and oversee the execution of those procedures on your behalf.
• Contact your title company to make sure all necessary documents are prepared and delivered to the correct location on the appropriate date.

8. CLOSING
• Review the closing documents prior to closing date.
• Find out what form of payment and personal identification you will need to bring to closing for any unpaid fees.
• Closing is usually held at the offices of the title company, but with computer automation and overnight delivery, buyers and sellers need not be in the same room to close a deal. CONGRATULATIONS ON THE PURCHASE OF YOUR NEW HOME!