RESIDENTIAL

BUYERS GUIDE

LOOKING TO BUY A HOME IN THE DALLAS-FORT WORTH METROPLEX? WE HAVE YOU COVERED.

You’re ready to buy a property! How exciting! We know this is a big deal! Whether you are buying your first home, looking for your dream home, or one of your next investment properties, we can help.

Our agents are top-notch and knowledgeable experts in the market and can find the exact property with all of the features you need and want. We know the market and love what we do. We will guide and help you through the process and ensure a successful outcome.

THE BUYING PROCESS

Here's what you can expect!

PRE-QUALIFY

Buying a home is a major financial commitment. Preapproval is the process of learning how much money you can borrow to buy your next home. Lenders will look at your income, assets and credit score to find which loans are best for you, and how much you can borrow, as well as your interest rate.

SEARCH PROPERTIES

Finding the right home is an exciting, but sometimes difficult process. No matter where you are or what you are looking for, we can help make this process easier for you. Our agents have a great understanding of the area and will work hard to help you find your ideal property. We are dedicated to you!

OFFER & CLOSE

In a market where competition is fierce, you need an expert negotiator and experienced agent to help you get the best deal. Our agents are experienced negotiators who will be by your side every step of the process. Their expertise will successfully close the deal and get you into the home of your dreams!

STEP BY STEP PROCESS FOR HOME BUYERS

Find Out How Much You Can Afford: Your house payment should be no more than 25% of how much you "take home" in your paychecks.
Save For Your Down Payment: You should save 10 to 20 percent, unless you are a first-time home buyer. First time Home Buyers may only have to put down an average of about 6 percent. But also, do not forget to save for closing costs and fees!
Closing Fees: Home Price + Amount Down + Loan Amount + About 4% for Closing Costs = Total Savings Needed.
Pick Out Your Favorite Neighborhoods: Check out our area pages to search for homes and neighborhoods that fit what you are looking for! Be on the lookout for school ratings, neighborhood amenities, proximity to work locations, etc.
Get Preapproved for a 15-year or 30-year, Fixed-rate Conventional Loan or FHA/VA Loan: To preapprove you, lenders look at your income, assets and credit score and determine what loans you could be approved for, how much you can borrow and what your interest rate might be.
Find a GREAT Real Estate Agent: You will want someone who is an expert in the area, negotiations, and who you feel will #workhardforyou. At M&D Real Estate, all of our agents are seasoned professionals who make sure to always have your back and who are knowledgable and can guide you through every aspect of the process and get you the best deal / put in the best, winning offer.
Meet with Your Agent & Give them a List of Your "Must-Haves!" This will help them to set up a search for you, and to know what kind of homes to show you so that you are both on the same page.
Search For & View Homes: Go and see what's currently on the market that fits your budget and "must-haves!" Most buyers search for an average of 8 weeks and view around 9 homes before they find their perfect home!
Make an Offer! Once you find a home you love, your agent will put in a hopefully WINNING offer for you. Your agent should be an expert in knowing what to offer and formulating this to put in on the home you want.
Pay "Earnest Money" & Start Mortgage Process: After your offer is accepted, you’ll pay a deposit called earnest money. Then, you can let your lender know the exact dollar amount to process for your mortgage. After that, you will be given a myriad of paperwork to sign for your lender.
Home Inspections: The time frame on getting inspections starts the day immediately after executing the contract. Your agent will guide you through these and should know of reputable inspectors to get this all done in a timely manner allotted by the contract. Should you find anything that needs to be repaired, your agent will communicate this to the seller as part of negotiations.
Appraisal: Your Appraisal will ensure you are not over-paying, ensuring the value of the home.
Lender Documents: Next, your lender will finalize your loan documents. There’s a ton of paperwork that goes into getting a mortgage, and be sure to sign everything in a timely manner (24 hour turnaround just to be sure). On average, it takes 51 days to close on a loan!
Homeowners Insurance: You will want to get at least 3 bids before making your final decision on homeowners insurance. Your lender will require you have this to finalize your loan, so choose a trusted agent and secure your insurance policy.
CLOSING DAY! Now you will finally get to close on your home, which will include signing a hefty amount of paperwork, paying the rest of any payments outstanding and starting the moving process. CONGRATULATIONS!

CONTACT US TO GET STARTED TODAY

We look forward to working with you and helping you with your residential real estate needs.

BUYERS GUIDE

LOOKING TO BUY A HOME IN THE DALLAS-FORT WORTH METROPLEX? WE HAVE YOU COVERED. ​