How To Purchase A House In The State Of Texas By Shane Smith At Isnare.com Ezine Articles

The process of purchasing a home in the state of Texas begins with the purchaser appointing a Realtor with a database of available houses. The Realtor is an agent who has a fiduciary relationship with the seller. The Realtor can help the purchaser identify a property within budget and in an ideal location. A Realtor with a database of available houses can give a purchaser better choices with regard to houses available according to budget and preference.

Once the property is located the purchaser makes an offer in the form of a sale purchase agreement stating the price offered, the inspections required under law, the time frame in which each stage of the transaction is to be completed and the mortgage amount that the purchaser can obtain. The offer is sent with a check to be kept by the Realtor in escrow and to be paid to the seller. The seller, on receipt of the offer is required under the Laws of the State of Texas to make a complete disclosure of the present and potential defects of the property both structural and environmental. Once these tasks are completed the seller and the purchaser will sign the agreement and make it a binding contract.

The purchaser will now make inspection and title search arrangements. The purchaser should engage a certified inspector to assess structural defects, pest control, sewage, drainage and, appliance malfunction on the property. An inspection certificate required under the laws of the State of Texas will further enable the purchaser to raise a mortgage loan on the property.

The purchaser should hire an attorney, a real estate title company or a trust and title company to scrutinize the title of the property and to check public and court records for possible encumbrances of the title of the property. The American Land Title association has a list of title search professionals the for the purchaser’s reference. Encumbrances that affect the title of property in the State of Texas are implied easements of necessity and benefit which are recognized by law. Other encumbrances are liens on the property arising out of judgments, fines imposed by judgments of criminal Courts, unpaid assessments unpaid litter levies, unpaid estate taxes, unpaid sanitary tax, unpaid income taxes, unpaid levies by the Homeowners Association, unpaid mechanics both by affidavit and by contract and unpaid state taxes. Any encumbrance that can be remedied is communicated to the seller. The purchaser should buy a title insurance to avoid the litigation costs in defending undetected title claims.

The purchaser can then raise the loan from the lender company and make an earnest money payment. When the lender company is satisfied that all the paperwork is complete the purchase is closed. The purchaser is required to show proof of a one year home owners insurance premium payment and a proof of identity at the closure when the deed is signed by both parties and the seller passes possession and title to the purchaser and the purchaser finishes the process of purchasing a home in the State of Texas.

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