Facts And Questions

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Where Does Maverick Homes And Neighborhoods Operate?

Although over the years I have helped many buyers and sellers all over Bexar County and surrounding areas. Currently, my company focuses on generating business in the Uptown San Antonio area of San Antonio, Windcrest, Converse, Live Oak Texas, and Selma. This allows me to conduct a better overall experience for my clients.

Questions Home Buyers Ask

What is the first step in owning a home?

For many homebuyers, the first step in owning a home is to get pre-qualified to determine where you stand financially entering the home buying process. For others, it may be skipping to the local market research phase.

How long does the process of buying a home take?

When buying a home using financing it can take 30-45 days. This timeline can be shorter or longer depending on how punctual the home buyer is in providing all required documentation. If the home purchase is in cash the process may be completed in less than a week.

What are the down payment requirements when buying a home?

Down payment requirements vary from loan to loan. Military Veterans and down payment assistant participants pay zero down payment towards purchasing a home. FHA participants currently pay a 3.5% down payment. Conventional loan borrowers pay a 3-5% down payment. Consult with one or more lenders about down payment options and the pros and cons of each program.

How much is the closing cost when buying a home?

Closing cost when using a loan in this area typically runs around 3% of the cost of the home and will gradually reduce the higher in the price you go because some costs are fixed and have less impact.

How much does the home inspection cost?

Home inspections can cost as little as 300 dollars up to 600 dollars or more depending on the size and complexity of the property. Separate termite inspections usually cost around 75-100 dollars. Septic tank inspections can be as low as 300-900 depending on the depth of inspection. Pumping the tanks for a full inspection is routinely several hundred dollars. How full the tanks are impacts cost.

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Questions Home Sellers Ask

Who is responsible for paying for repairs?

That all depends on the deal and the current market conditions. Here in Texas, If it is a seller’s market the buyer may be stuck with the cost of any repairs including lender-required repairs. If it is a buyer’s market or anything in between the seller and or the buyer may need to make concessions for repairs. Neither party is typically obligated to continue the deal during an option period or lender request for repairs.

What happens if the home does not appraise?

In most cases, if the home does not appraise, the buyer and the seller are back to negotiating. If an agreement is not met the contract typically can be terminated and the buyer’s earnest funds are usually returned and the homeowner keeps the house.

Who is responsible for paying for title policy?

Who pays for title insurance is a negotiable point in the contract and is often dictated by market conditions. The title insurance process is often initiated by the seller’s side and paid for by the seller. However, in a market where buyer competition is high, buyers may elect to pay for title insurance to make their offer stand out.

When is the best time to sell my home?

The best time to sell your home is when the highest level of buyer interest and traffic can be achieved. This may or may not align with your ideal timing in selling your home depending on your scheduling. A detailed market analysis is recommended to identify the pros and cons of selling at any given time.

Who is responsible for home repairs?

Believe it or not, it’s not always the responsibility of the homeowner to foot the bill for repairs. Any and all repairs are negotiable points in a contract. The only outside factor that may influence the decision to make repairs would be lender required repairs. And even then neither the seller nor the buyer is obligated to make or contribute to the repairs.

Ready to make a move? Contact me now!