How buying a home works, step by step
Most purchases take two to three months from the first lender call to your keys, and 30 to 45 of those days fall between an accepted offer and closing.
Your contract sets the real dates. Questions? Call or text Carrie at (713) 364-5019.
What it costs up front
Paid before closing
| What | When | Typical amount |
|---|---|---|
| Earnest money | A few days after your offer is accepted | About 1%of the price, counts toward what you owe at closing |
| Option fee | A few days after your offer is accepted | $100 to $500paid to the seller |
| Home inspection | During the option period | $400 to $700 |
| Appraisal | After acceptance, through your lender | $500 to $800 |
| Survey | Before closing, if a new one is needed | $400 to $700 |
At closing
Down payment
3% to 3.5%
on some loans, 0% on VA loans
Closing costs
2% to 5%
of the loan; your lender estimates it early
You don’t pay Carrie anything up front. Your buyer agreement says how she’s paid.
Phase 1 of 3 · Steps 1 to 3
Before the offer
Get your money and your agent lined up, then look at homes.
Step 1: Get pre-approved by a lender
A lender tells you in writing how much they’ll likely lend you.
You
Apply with pay stubs, W-2s or tax returns, bank statements and ID. Pick a monthly payment you’re comfortable with, which can be lower than what you’re approved for.
Carrie
Gives you local lender names and turns your budget into a price range.
How long
A few days to a week.
Send financial documents only through your lender’s secure portal, never by regular email.
Not sure where you are in this? Call or text Carrie.
(713) 364-5019Step 2: Sign a buyer agreement with Carrie
A written agreement on what Carrie does for you, for how long and how she’s paid.
You
Read it, ask about anything unclear, sign when you’re comfortable.
Carrie
Walks you through it line by line.
How long
One 20 to 30 minute conversation.
Step 3: Look at homes
Tour homes in your range and figure out what you actually want.
You
List your must-haves. Check the roof, AC and drainage, and ask about taxes, HOA dues and insurance.
Carrie
Sets up showings, sends new listings and pulls nearby sales.
How long
A weekend to a few months.
Phase 2 of 3 · Steps 4 to 8
Offer and contract
You make an offer, and once it’s accepted, the contract’s deadlines start.
Step 4: Make an offer
Carrie writes your offer on the standard Texas contract and works it out with the seller.
You
Settle price and terms with Carrie, send your pre-approval letter and stay reachable.
Carrie
Prices it from recent sales, writes it and explains every counteroffer.
How long
One to three days to a signed contract.
The day everyone signs is the effective date. Most deadlines count from it.
- Effective dateEveryone has signed. Most deadlines count from here.
- A few days inEarnest money and the option fee are due.
- Option periodOften 5 to 10 days. Your inspection happens inside it.
- First week or twoAppraisal.
- About a week before closingFinal loan approval.
- At least 3 business days before closingYour Closing Disclosure arrives.
- Closing30 to 45 days after your offer is accepted.
Step 5: Pay earnest money and the option fee
Your deposits are due within a few days, and they buy you an option period to back out for any reason.
You
Pay both on time or you can lose the right to back out. Call the title company at a number you looked up yourself before sending money, and never wire from emailed instructions.
Carrie
Tells you what’s due, to whom and by when.
How long
The option period is often 5 to 10 days.
Step 6: Get the home inspected
A licensed inspector checks the house and writes up what’s wrong.
You
Hire the inspector, read the report, then buy as is, ask for repairs or a lower price, or back out.
Carrie
Sets up access, goes over the report with you and makes your request to the seller.
How long
Inside your option period, so book it right away.
Step 7: Appraisal and final loan approval
The lender confirms the home’s value and gives your loan its final OK.
You
Answer lender requests fast. No new credit, car loans or job changes until after closing.
Carrie
Keeps the lender moving and works out next steps if the appraisal comes in low.
How long
Appraisal in the first week or two, final approval about a week before closing.
Step 8: Title and survey
The title company confirms the seller owns the home free and clear, and the survey shows the lot lines.
You
Read both and ask about anything odd, like an easement.
Carrie
Gets the title company and surveyor what they need.
How long
Runs in the background until closing.
Phase 3 of 3 · Steps 9 and 10
Closing
One last look, then you sign and get your keys.
Step 9: Final walkthrough
One last look a day or two before closing.
You
Run the faucets, lights, AC and appliances, and check repairs against receipts.
Carrie
Walks it with you and takes any problem to the seller’s agent before you sign.
How long
30 minutes to an hour.
Step 10: Close and get your keys
Sign at the title company, the loan funds and the home is yours.
You
Compare your Closing Disclosure, due at least three business days before, to your loan estimate. Call the title company before sending funds, bring ID and start utilities and insurance on closing day.
Carrie
Goes over the numbers and confirms time and place.
How long
About an hour to sign. Keys come once the loan funds, same day or the next.
What’s on your Closing Disclosure, from the CFPB
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Words you’ll hear
Pre-approval
A lender’s written estimate of what they’ll likely lend you, not a final approval.
Buyer agreement
What Carrie does for you, for how long and how she’s paid.
Offer
Your price and terms to the seller, binding once both sign.
Effective date
The day the contract is fully signed; most deadlines count from it.
Earnest money
A deposit to the title company that counts toward closing, and you can lose it if you back out late.
Option fee
What you pay the seller for the option period; they keep it either way.
Option period
Days after acceptance when you can back out for any reason.
Home inspection
A licensed inspector’s written check of the house and its systems.
Appraisal
The lender’s estimate of the home’s value; your loan is based on it or the price, whichever is lower.
Title
Legal ownership; the title company confirms it’s clear and runs the closing.
Title insurance
Covers you if an ownership problem from before you bought turns up.
Survey
A drawing of the lot lines and where the house and structures sit.
Closing costs
Fees on top of your down payment, usually 2% to 5% of the loan.
Closing Disclosure
Your final loan terms and cash to close, sent at least three business days before closing.
Funding
When the lender sends the money to the title company; keys usually follow.
Escrow
An account that pays your taxes and insurance out of your monthly payment.
Ready to start, or just have questions?
You don’t have to be ready to buy. A year out is a good time to call.
A general guide to buying a home in Texas, not legal or financial advice. Your contract and lender set your actual terms and deadlines. More from the Consumer Financial Protection Bureau and the Texas Real Estate Commission.