Home Buying in Fort Worth>Question Details

Mrs. C, Home Buyer in Fort Worth, TX

I am looking to move end of October. Is it too early to start looking now to buy?

Asked by Mrs. C, Fort Worth, TX Thu Mar 29, 2012

Looking for a townhouse or a condo. I'm tied up in a lease until Oct. 31.

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Dear Mrs. C,

The answer is YES ...and... NO.

There are some things you can do to prepare yourself for the buying process. The first thing you should do is consult with an experienced Realtor. The second thing would be to consult with a good loan officer. Do not waste your time driving around looking at houses!

Since I have 32 years of experience selling homes here in Tarrant County, I can guide you through the steps of the process. I can enlighten you on the pitfalls to beware of. I can refer you to the right people who will help you where you need it. You may schedule a consultation with me at no charge, and I will provide you with a checklist of the steps in the process of buying a house. This will give you a guide to follow over the coming months. There may be some things that you need to start working on right away. (Finding a house is not one of them.)

IF your credit score is not above the threshold for loan approval, we will need to get started working on improving your score immediately. I can show you how to check your credit score for free, without putting an "inquiry" on your credit record. I am a Certified Instructor in Credit Repair.

If you do not have all the cash resources you may need to purchase a house, we can start to work on putting together the documentation necessary to convince the lender that you DO have enough cash to close. We can also talk about how to get the seller to pay your closing costs. (I have a house for sale right now where the seller will pay all of your closing costs.)

If you are financially ready to get a loan and buy a house, it may be to your advantage to buy yourself out of the lease you currently have. I can show you how to evaluate that. If not, we will formulate a plan to work toward your move in October.

I can give you a list of houses that are currently available which fit your parameters. You can then see which areas might have a house in the right price range that you might like. You might want to drive around and check out the neighborhoods.

But if you are really going to move in October, then we will start looking at houses in earnest in August. Once you pick one out, I will assist you in negotiating a good deal, and help you write up a contract which we will get the seller to sign. Then we'll get your lender to appraise the property and approve your loan. We'll take the final papers to the title company and I will schedule a closing appointment to fit your work schedule and convenience. I will accompany you to the closing table and make sure everything is in order. All of my fees are paid by the seller's Broker, so there is no money required out of your pocket.

Please contact me for more details and to set up an appointment. Once you are ready to move, I will also help you get a lower energy bill so we can save you money on electricity.

I remain at your service.

Rick DeVoss

...The Michael Group

817-300-6121

rickdevoss@realtor.com

IGNITE ...we light up the world...
1 vote Thank Flag Link Thu Mar 29, 2012
It's never too early to start educating yourself as to the market and the options in your price range.........start looking casually now, so when you're ready to jump in with an offer , you'll have a level of confidence .

average closings can be 60-90 days...........it might take several months to find a home you love............so......start familiarizing yourself with what's out there !

Good luck.......
0 votes Thank Flag Link Fri Mar 30, 2012
If renting it can be costly to buy out your lease,unless near the end. I suggest getting your credit score at mysafemove.com. If issues get them straightened out. pay off credit cards with high interest rates first. If late payments,, and can be explained contact the company.Pay down your debt as much as possible. Do not charge anything else. pay cash for everything until you can close on a home. Call me for more info. I am a Texas Affordable home Specialist. There are alot of grants and bonds out there. For rural area there is a USDA loan. I can get you the income ratio for you. After pre-approved for a loan, start looking about 75 days out.Credit score of 640 and above and debt to ratio not more than 32% is great. Good Luck
Call me 817-528-7706 or pyadkerson@charter.net
0 votes Thank Flag Link Fri Mar 30, 2012
Yes and No..... If you want to wait until your lease ends, so you don't have any double payments, then yes. Typically I like to back things up about 90 before you want to move to really start the search.

Right now you can get prequalified with a a lender. That way they can check your credit report, see if there are things you need to clean up to get the best interest rate, help you decide on down payment, and closing costs in case you need to save for those. You can also determine what price range works best for you.

Then I would pull some of the listings in your price range and start driving the neighborhoods. See which ones you like. See which ones are the right driving distance. Check out the areas you like more extensively for stores, crime, prices, etc.

Then about 90 days out renew your prequalification, start looking at homes. Contract 30-60 days out.

You can search Ft. Worth Condos and Townhomes at the link below.
0 votes Thank Flag Link Thu Mar 29, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Recommend:
1. Locate area of town
2. Know what you like
3. Pull your financial records for past 2 years together including tax returns
4. Contact mortgage broker approx 70 prior to your move in date .
5. Get approved for a mortgage
6. Locate a Realtor provide copy of your qualification letter
7. Takes approx. 2 - 3 weeks locate a home
8. Approx. 30 -60 days to close on a home

Dallas homes for sale Dallas
http://www.lynn911.com/Web/AR287090/CustomContent/index/5055…



Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Mar 29, 2012
Yes, it probably is. I would look into buying out your lease. If it's is possible for you to do so now, it could save you on future increases in interest rates and allow you to buy while prices are still low. Generally, you should looking about 75 days or so out. Be sure to start the loan process soon.
0 votes Thank Flag Link Thu Mar 29, 2012
If October is set in stone, it is too early to buy but it is not too early to start looking. It is a great time to start researching subdivisions and neigborhoods.
Find a loan originator and a Realtor and establish contact with them. They will have a wealth of information for you to use in making an educated decision.



Good Luck,
Albert Elhage
Broker/
http://www.Albertelhage.com
aelhage@austin.rr.com



(512)971-1773 (Mobile)
(512)327-7449 (Fax)

"The finest compliment I can ever receive is a referral from past clients and customers. Thank you for your trust."
0 votes Thank Flag Link Thu Mar 29, 2012
I agree with the above answers. You can check out schools, neighborhoods, etc.You can be set up
To receive listings of homes that meet your criteria
If you need assistance and don't already have an agent you are working with we would to help you
Shawn Jackson
The Michael Group
817-521-0125
Jacksojnj@aol.com
0 votes Thank Flag Link Thu Mar 29, 2012
Going to open houses will really help you to narrow down the area you want to look in when you start seriously looking.
0 votes Thank Flag Link Thu Mar 29, 2012
No, it is not too early to start looking. This way you'll gain a better idea of what you would like in a home when you are ready to purchase.
0 votes Thank Flag Link Thu Mar 29, 2012
It's never to early to start looking especially when considering neighborhoods, schools, shopping and entertainment. Looking now also gives you more insight to better understanding the pricing of a particular neighborhood. You should probably expect though to not go under contract until the August timeframe unless you find a seller that is willing to do a lease before close. Best of luck in your search. Please let me know if I can be of assistance.
0 votes Thank Flag Link Thu Mar 29, 2012
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