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Whether you’re a first-time buyer or a seasoned homeowner, purchasing a new home is a landmark accomplishment—and a segue into a long-term investment.

Put your mind at ease knowing that at Domain Realty, we are here to walk you through the entire home buying process. From start to finish, we strive to cultivate a relationship with you. We utilize our intimate knowledge of Austin real estate trends to find you the perfect property at the right price.

Launching Your Landmark Accomplishment

The Home-Buying Process: From Loan to Close

Let’s Get Started!

  1. Securing Financing

First, you’ll speak with a lender to establish your ideal spending range. Then, your lending agent will help you obtain a preapproval letter for submission along with your offer.

To get started, contact our affiliated mortgage company, Great Hills Lending Group, LLC, at (512) 740-0807. We’ll make sure to roll out the red carpet for you.

Though you are free to choose another lender, we recommend Great Hills Lending Group because it gives you, as the buyer, full access to all of Domain Realty’s resources. By offering an allinclusive service, we eliminate many of the normal speed bumps that can arise and create a seamless home-buying experience.

  1. Making a Plan

Next, you will meet with one of our real estate consultants to give them insight into your timeline, budget, and property specifications. Your agent will help you set a realistic home-buying strategy based on your unique wants and needs.

  1. Shopping for Your New Home

With your plan in place, your new home search begins!

Home shopping is an exciting process—but things can change along the way. Your agent will help you evaluate and revise your initial plan as needed. Whether you find your dream home on the first showing or months later, they will work to help you find the perfect property.

  1. Making an Offer

Once you find the right home, your agent will evaluate market conditions and comparable properties to determine how best to present the offer. After consulting with you and establishing a plan of action, your agent will draft the offer and present it to the opposite party.

It is normal for negotiations to go back and forth a few times before both parties come to an agreement. Your agent will act as your representative, helping you navigate all steps of the negotiation process with confidence.

  1. Under Contract

After final acceptance of the terms by both parties, you are “under contract.” This means that the terms of the agreement are binding. The final acceptance by both parties require the following:

  1. All parties must sign off and date the contract appropriately.
  2. Money must exchange hands—this includes earnest and option monies.

The earnest money is delivered to the title company, which then receipts the contract upon receiving the check. The option money must be delivered to the seller or their agent and receipted within a 3day period.

  1. Option Period

Now begins the negotiated option period (usually between 7 and 10 days). This is your time to get the home inspection and make any amendments to the contract. Your lender will also order the appraisal after the inspection, and the title company will typically provide a title commitment for you to review.

  1. Closing and Funding

This is the finish line!

Once you obtain the Final Approval and a CLEAR TO CLOSE, your lender and the title company collaborate to finalize all figures based on all invoices provided by third parties (appraisers, surveyors, attorneys, insurance, etc.). The CLOSING DISCLOSURE is then sent to you for review.

Once you confirm receipt of this information, current regulations require you to wait 3 business days before you can sign the final documents to consummate the sale.

When all the required documents are signed and finalized and the money exchanges hands, the property becomes yours.

  1. Celebrating Your Landmark Accomplishment

Time to celebrate! You have successfully navigated through the home-buying process. Take time to appreciate your victory, and realize that you have made a step in the direction of a profitable, long-term investment. Enjoy your new home!

Find Your Perfect Property With Austin’s Experts

Domain Realty knows Austin. Whether you’re seeking scenic hill-country living or the bustling downtown scene, we’ll work to find the right home for you.

Contact one of our experienced Austin real estate agents at (512) 872-4211.